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Topic: 10000 BTC for a pizza? (Read 10492 times)

legendary
Activity: 1904
Merit: 1002
June 24, 2012, 10:21:10 PM
#56
How many toppings did he get?

Second result after searching for pizza:
https://bitcointalksearch.org/topic/pizza-for-bitcoins-137

It was actually 2 pizzas.
full member
Activity: 178
Merit: 100
June 24, 2012, 09:57:39 PM
#55
How many toppings did he get?
legendary
Activity: 1904
Merit: 1002
June 24, 2012, 08:11:05 PM
#54
Anyone think an investment in litecoin is worth it?

Totally, I have about 140 that I'd part with.  PM me with an offer.  Last I looked, they were worth about 8/10th of a bitcoin, but it would take at least 0.5 Bitcoin for me to fire up my litecoin client and resync.
legendary
Activity: 1862
Merit: 1114
WalletScrutiny.com
June 24, 2012, 01:10:04 AM
#53
I recall the 10,000 BTC was worth about $50 at the time, so whatever that exchange rate translates into.  $50 is still a lot for two large pizzas, but I suspect he wanted to give an incentive for someone to do it.

if you try to buy anything from any merchant that is not yet into bitcoin, you probably would not get it even at a 100x markup. most merchants i ask about bitcoin don't even consider it a scam. they just don't consider it at all.

else, if you can buy something for bitcoin, please do so and don't bother hoarding. you are one of those who know where to convert fiat to bitcoin so you don't loose anything if you use bitcoin.
sr. member
Activity: 250
Merit: 250
June 23, 2012, 03:56:52 PM
#52
What everyone needs to remember is, that part of the explanation as to WHY bitcoins are valuable today is because people started using them.

If we go all butterfly effect on this, one could imagine that if he had not paid that amount in bitcoins for that pizza, then bitcoins would not have caught on, and the coins would be worth nothing today.

All in all, he did the right thing in buying that pizza, even if he did think the value was going to go up.

Spending bitcoins because you think they are worth something is good, it will help increase their value.

Good point!
hero member
Activity: 740
Merit: 500
Hello world!
June 23, 2012, 03:47:12 PM
#51
What everyone needs to remember is, that part of the explanation as to WHY bitcoins are valuable today is because people started using them.

If we go all butterfly effect on this, one could imagine that if he had not paid that amount in bitcoins for that pizza, then bitcoins would not have caught on, and the coins would be worth nothing today.

All in all, he did the right thing in buying that pizza, even if he did think the value was going to go up.

Spending bitcoins because you think they are worth something is good, it will help increase their value.
member
Activity: 90
Merit: 10
June 23, 2012, 03:28:09 PM
#50

>I bet he is okay cuz he has 200,000 more:)

Yeah seriously, he had ample time to mine more at that stage and frankly I doubt those would have been the only coins in his possession. And just for context, what would have stopped him from dropping 30 bucks to buy 10,000 more? People seem to think that once his coins were gone he had no hope of getting any more, the logic mystifies me.

As somebody who had several thousand coins (from selling something small and cpu mining) back when they were they were somewhere around $0.005, It absolutely wouldn't surprise me if the vast majority of the other "early adopters" from those days had no coins left.

I sold the majority of those very early coins when the price jumped 10 times(!) up to $0.05 in the course of a few days. I also gave many away to friends to convince them to try out bitcoin (I mean, giving away blocks of 50 or 100 coins at a time).

It's not like we knew the price was going to rise so much.
member
Activity: 113
Merit: 11
June 23, 2012, 04:54:05 AM
#49

>I bet he is okay cuz he has 200,000 more:)

Yeah seriously, he had ample time to mine more at that stage and frankly I doubt those would have been the only coins in his possession. And just for context, what would have stopped him from dropping 30 bucks to buy 10,000 more? People seem to think that once his coins were gone he had no hope of getting any more, the logic mystifies me.
sr. member
Activity: 250
Merit: 250
June 23, 2012, 04:46:01 AM
#48
I came across this thread just today... At first I though he offered $10 (we use , for decimals and . for thousands) but then I realized!!! :O
legendary
Activity: 980
Merit: 1008
June 22, 2012, 04:08:19 PM
#47
Anyone think an investment in litecoin is worth it?
No. Literally no one thinks that.
rjk
sr. member
Activity: 448
Merit: 250
1ngldh
June 22, 2012, 11:23:47 AM
#46
Anyone think an investment in litecoin is worth it?
HAHAHAHAHAHAHA

no.
sr. member
Activity: 280
Merit: 250
June 22, 2012, 11:23:04 AM
#45
Anyone think an investment in litecoin is worth it?
edd
donator
Activity: 1414
Merit: 1002
June 22, 2012, 10:36:49 AM
#44
I'd give 1 BTC for a pizza right now.

i wouldn't.  1 btc will be in the thousands very soon.

Not if people don't exchange them for other things, like pizzas.
legendary
Activity: 1246
Merit: 1016
Strength in numbers
June 22, 2012, 09:12:53 AM
#43
Hahaha, I bet he feels like shit now and thinks he should have kept them Cheesy

That's -really- unlikely. When people realize that they can actually do stuff with coins it makes them go get even more. He probably feels much better about buying a (historic) pizza with bitcoins than spending dollars on pizza which could have gotten him bitcoins. And the amount bad he feels about both is probably negative.
member
Activity: 68
Merit: 10
June 22, 2012, 07:13:20 AM
#42
Hahaha, I bet he feels like shit now and thinks he should have kept them Cheesy
hero member
Activity: 518
Merit: 500
June 21, 2012, 12:34:37 PM
#41
I have had a few friends who know little about BTC but have still heard the pizza story from somewhere.
legendary
Activity: 3066
Merit: 1147
The revolution will be monetized!
June 21, 2012, 12:10:09 PM
#40
I remember that. It's true.
sr. member
Activity: 261
Merit: 285
June 21, 2012, 12:04:50 PM
#39
Re-reading this thread, I realized everyone's missing the point:

PIZZA IS AN INCREDIBLY STABLE & FUNGIBLE CURRENCY.

I'm currently in the process of converting all of my hoarded BTC and USD into medium size pizzas (each unit is divisible to about 2 decimal points.) There's an electricity cost I have to subsidize to keep them fresh in a deep-freezer, but it's less electricity than I could consume with a mining rig, so...

sr. member
Activity: 373
Merit: 250
June 06, 2011, 01:44:36 AM
#38
I recall the 10,000 BTC was worth about $50 at the time, so whatever that exchange rate translates into.  $50 is still a lot for two large pizzas, but I suspect he wanted to give an incentive for someone to do it.
newbie
Activity: 35
Merit: 0
June 05, 2011, 03:53:12 AM
#37
I love that Bitcoin has memes now. We have the 10kBTC pizza, and we have the alpaca socks... our own little cryptocurrency counterculture...

carrots too
I see this joke about carrots everywhere, can someone please explain it or link me some thread?

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