Celebration Bitcoin Pizza Day. - page 3.

Wiwo

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Quote from: Merit.s on May 22, 2023, 12:25:01 AM

This is a big lesson for us from Laszlo using 10000 btc to purchase just two pizzas. Assuming he knows that in the very near future bitcoin price will surge high to the 26+k,I don't think that he would have made this moves. Some forum members are not happy that bitcoin is used as an asset, instead they want us to use bitcoin for our everyday transaction because bitcoin was created as an alternative means of payment. Forgetting that bitcoin volatile nature in 13yrs time from now can make one who holds on to his investment a winner. When you think like this bitcoin is dying because it is used as an asset. You might end up making the drastic mistake that Laszlo made and you will regret your action of failing to hold for long. My first time to be part of this great day, nobody believes in 2010 that bitcoin will be a valuable commodity with time passage.

Aside from value, Laszlo was trying to test the usability of Bitcoin for peer 2 peer trade such as paying for the pizza with the 10k bitcoins regardless of what its DCA value is, and above all Laszlo was trying to create a record of being the first person to exchange bitcoin for a pizza and that sigler act has become a historic events in bitcoin history.

Some consider the 10kBTC as being too much doe a pack of pizza 🍕 but then know what Laszlo's bitcoin balance was at that time, and considering how easy and cheap bitcoin was at that time, he could afford to throw off such amount without much worries of what the price could be short.

Above all happy bitcoin pizza day to everyone.

Merit.s

sr. member

Activity: 350

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This is a big lesson for us from Laszlo using 10000 btc to purchase just two pizzas. Assuming he knows that in the very near future bitcoin price will surge high to the 26+k,I don't think that he would have made this moves. Some forum members are not happy that bitcoin is used as an asset, instead they want us to use bitcoin for our everyday transaction because bitcoin was created as an alternative means of payment. Forgetting that bitcoin volatile nature in 13yrs time from now can make one who hold on to his investment a winner. When you think like this that bitcoin is dying because it is used as an asset. You might end making the drastic mistake that Laszlo made and you will regret your action of failing to hodi for long. My first time to be part of this great day,nobody believes in 2010 that bitcoin will be a valuable commodity with time passage.

Popkon6

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Activity: 560

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Bitcoin's future is guaranteed to be headed in the right direction. So if we leave the total assets (20%-30%) for a long time there will be no problem. Because even if you sell everything you spend, all the money will be gone. So even if you keep some wealth, your danger will go away. BITCOIN WEALTH FUTURE Looking at Laszlo's past performance, I can be sure that Bitcoin will surely move forward with great speed into the future. Had he kept a fraction of the 10,000 bitcoins in the present day, he would have built up a huge wealth.
Today we can enjoy this day because we bought two pizzas with 10 thousand bitcoins. And we can learn from this incident that some assets should be left for the long term.

NicNacCoin

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Quote from: Patrol69 on May 21, 2023, 05:43:12 PM

Let's all celebrate Bitcoin Pizza Day.

Today on this day 22nd May 2010 a legend ordered two pizzas for his family for 10000 bitcoins which is going to be 13 years today. Hoping to spread the joy of Bitcoin Pizza Day to all Bitcoin Forum community members today.
Although the price of Bitcoin was less than cents at that time in 2010, the first person to order a pizza in exchange for Bitcoin was the first product to be bought and sold in Bitcoin history. If it weren't for that event, we wouldn't have Bitcoin Pizza Day today.

Thanks Lazlo Hanycez
Thanks Papa john

SoulMortal

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Just read about this. It will be more interesting if both parties starts using bitcointalk again. It's a lesson pizza can be very expensive.

BlackBoss_

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Rollbit is for you. Take $RLB token!

Quote from: Captain Corporate on May 21, 2023, 06:27:15 PM

To make it clearer, thats 267 million dollars. I am not even writing what the rest is, just 267 million dollars should be enough to show how insanely high this was in amount, it just doesn't make sense.

267 million dollars is a value of 10,000 bitcoins at today price, not at 2021 all time high price that is about more than two times of this value.

Quote

I understand obviously that this was just one time thing and anyone back in those days that were willing to spend this much, also had some bitcoins leftover. Laszlo talked about this before, he said that wasn't all he had and he had more and he cashed out some of them later on as well. I guess he is not a poor person at all. Like when we talk about him spending 10k on pizzas, we make it look like he had nothing left and he is starving today, dude did that, and then used the dollars to buy more bitcoins later on, so he was an early bird who got out with some decent chunk, definitely not a mistake for him.

Even laszlo is poor after all his sales of bitcoins with cheap prices, it is not a big issue with him or with us. Time flies and nobody can revert time so we have to live moving forward without regret about our past decisions.

However we can learn from laszlo trade that we should never sell all of anything we own and believe in its future. We can keep about 10% or 20% of what we own for future. The 10% or 20% of our asset has unknown future and we might have a fortune with it or nothing with it in future. If we already have profit from our investment, we don't regret if the 10% or 20% turns to 0 in future but we will be very happy if it turns to be our big fortune.

Captain Corporate

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To make it clearer, thats 267 million dollars. I am not even writing what the rest is, just 267 million dollars should be enough to show how insanely high this was in amount, it just doesn't make sense. I understand obviously that this was just one time thing and anyone back in those days that were willing to spend this much, also had some bitcoins leftover. Laszlo talked about this before, he said that wasn't all he had and he had more and he cashed out some of them later on as well. I guess he is not a poor person at all. Like when we talk about him spending 10k on pizzas, we make it look like he had nothing left and he is starving today, dude did that, and then used the dollars to buy more bitcoins later on, so he was an early bird who got out with some decent chunk, definitely not a mistake for him.

Cantsay

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Bitcoin Casino Est. 2013

Op, go and re-upload your image using Talkimg.com.
It seems like you're not aware of the fact that images hosted using Imgur no longer work in bitcointalk.

https://talkimg.com

This should be the second pizza day I've celebrated since I became a part of this forum, altough I'm not quite sure if I was active to post that day or not.
I do wonder If he still regret his decision each he comes online on this day and sees that his iconic action is still being remembered by forum members and the whole bitcoin adopters.

edit

I forgot to add the iconic post itself.

Quote from: laszlo on May 22, 2010, 03:17:26 PM

I just want to report that I successfully traded 10,000 bitcoins for pizza.

Pictures: http://heliacal.net/~solar/bitcoin/pizza/

Thanks jercos!

Patrol69

sr. member

Activity: 546

Merit: 274

Today is May 22 (May 22, 2010), the historic day when a gentleman named Laszlo Hanyecz purchased just two pizzas from a pizza vendor named Papa John's for 10,000 Bitcoins. Converting 10,000 bitcoins to US dollars according to current market value, the current market value of 10,000 bitcoins is 267017400$. That is, according to the current market price, Laszlo Hanyecz bought only 2 pizzas for 267017400$.
The price of pizza is almost the same as before but guess how much the price of Bitcoin has increased.

We have lessons to learn from here. Given where the Bitcoin market value is now, 13 years from now, you can imagine where the Bitcoin market could be.

Let's all celebrate Bitcoin Pizza Day.

Topic: Celebration Bitcoin Pizza Day. - page 3. (Read 377 times)