Don't trade your Bitcoin like Laszlo Hanyecz - page 3.

Kakmakr

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You are absolutely wrong!

Bitcoin is not an investment option, it was developed by Satoshi Nakamoto to be a currency. A currency must be used for it to have value ..and for it to gain value over time. It is the speculators in Bitcoin that are destroying it, because they pump the price..take profits and then dump it again.

This "Pump n Dump" strategy are causing extreme volatility that are making it almost impossible for people to use it as a Currency. (A currency needs stability)

Stop looking at Bitcoin as a "Commodity" ....and focus on it as being a "Currency" ....and you will get more benefits from it. Wink

Flexystar

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Quote from: mk4 on May 22, 2022, 08:45:23 AM

I hate people spending their bitcoin sort of being 'demonized', as there's definitely nothing wrong with what the dude did. He publicly showed that bitcoin can actually be used as a currency. Big achievement, if anything.

Definitely worth applauding. Since he made worlds first real transaction of bitcoin he should be remembered as perfect person. Nonetheless today, there is no such transaction happening. I can’t even go and talk to some shopkeepers and buy anything I want for my bitcoin. It’s becoming more or less commercial appearance now where if store accepts it then only you can pay with the bitcoin otherwise just go away! Crypto isn’t about real word application anymore, it’s more or less trade it, gain profits and save for later. That’s all.

Henrobakkara

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Quote from: worle1bm on May 24, 2022, 12:40:25 AM

It's all dependant on how we want to use our money like whether we want to hold it or use it to buy whatever we like through bitcoin if it's accepted there.You see that Laszlo didn't have any regret of trading his coins with pizza and same way we see today also like people buying some real estate worth millions with bitcoins so they are using it as money.But if you want to save it then you should hold it for long term waiting for good profits.But we can't say what Laszlo did was wrong.

Exactly, we see today many arguments about making Bitcoin a legal tender and if that comes true for most countries what would you now want to do with the Bitcoin you are HODLing? spend it. So I don't get this talk of how Laszlo Hanyecz spent some Bitcoin as if it is a crime and let's not forget that what Bitcoin is now is not how it was accepted then and like you rightly said, people still spend millions worth of bitcoin Buying stuffs whatever that might be.

bitterguy28

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Sorry but I see no issue about how He spent His bitcoin? lets think what happen now if Laszlo did not act like that?
if he did not sacrifice His Bitcoin (though this is only 10% of His total funds) so now for me? actually he is a Hero of crypto currency.
but of course the perception of others are different because newbie wanted funds to keep safe, but in the past? they wanted to spend the funds to show people how to use this.

worle1bm

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It's all dependant on how we want to use our money like whether we want to hold it or use it to buy whatever we like through bitcoin if it's accepted there.You see that Laszlo didn't have any regret of trading his coins with pizza and same way we see today also like people buying some real estate worth millions with bitcoins so they are using it as money.But if you want to save it then you should hold it for long term waiting for good profits.But we can't say what Laszlo did was wrong.

Dr.Osh

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now and then are different. what Laszlo Hanyecz does is a sacrifice that proves that bitcoin can be an alternative payment on the internet. it can be said that the development of the bitcoin price to date is one of what he was trying to do a few years ago. this is different from spending bitcoins nowadays. in addition, Laszlo Hanyecz also gave the impetus for bitcoin to have value at that time. after all, he is a legend that crypto users should appreciate. however, the perception of bitcoin trading now and then is a different matter.

PepeLapiu

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If Lazlo had decided to hord his coin and if every early adopter all had decided to hord their coin, it wouldn't be where it is today.
So I wouldn't say his is a hero for buying a pizza. A legend maybe, but not a hero. I'm pretty sure you gotta save an old Lady or a cute puppy to be a hero. Buying pizza hardly qualifies, unless it's to feed the homeless or something.
But we wouldn't be here today if it weren't for the early adopters refusing to hord their coin.

Ale88

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Quote from: ololajulo on May 22, 2022, 05:09:45 PM

I dont understand how people look at that guy foolishly.
[/quote]
Because people are stupid and envious. These days of course I read many comments online, especially of FB, about how stupid Laszlo was, how they hope he doesn't have any bitcoin left, etc etc, why is that? Because those are just poor people, poor both as IQ and financially, and they enjoy reading that kind of news. Where were those people back in 2010 while Laszlo already knew what bitcoin was and he was mining a ton of coins per day? What did they accomplish in their life besides criticizing on social media? Probably nothing. In the meantime Laszlo is part of this community's history forever and we all should be grateful and proud of what he accomplish to do.

btc78

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But remember that because of this action ? people starts to understand and use Bitcoin for transactions and this also makes bitcoin worth using .

Maybe this is a Bad move as that is a Lot of amount but going back to the time? who really knows that bitcoin will have this huge amount of value?

I still look at this man as a Hero and not just something that misusing his coin.

Quote from: swogerino on May 23, 2022, 03:07:12 PM

I think the title of this thread is wrong,that guy had almost 100.000 Bitcoins when ordered the pizzas if I am not mistaken and that means he used 10% of his stash to buy the pizzas when the value of Bitcoin was really low,so I think he did what he felt to do at that time.It is not wrong to spend money and Bitcoin is a form of money which he used to buy goods,he was smart enough to have saved the majority amount of his stash as most probably he believed the value would go up like it did.

yes and he did that to help Bitcoin show people its function and with this? they successfully introduced Bitcoin to the world.

swogerino

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I think the title of this thread is wrong,that guy had almost 100.000 Bitcoins when ordered the pizzas if I am not mistaken and that means he used 10% of his stash to buy the pizzas when the value of Bitcoin was really low,so I think he did what he felt to do at that time.It is not wrong to spend money and Bitcoin is a form of money which he used to buy goods,he was smart enough to have saved the majority amount of his stash as most probably he believed the value would go up like it did.

milewilda

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Quote from: non fungible anxiety on May 23, 2022, 01:09:21 PM

Well, the original idea was that bitcoin would be the new everyday currency, so he followed the times mindset. Now it's so valuable and transactions are expensive that no ones want to buy pizza with it, only lambos.

You would really be having that thought considering that it is really used for p2p payment without 3rd party involvement which means that you do really make use of it with that kind of transaction
and to mind off that no one really had expected for its price to climb up that high which i cant really blame that pizza guy and much sure that he had already moved on with that
situation even though this is something that you would really be regretting since considering the value which is totally enourmous or something that you couldnt just ignore
but at least we do have that pizza day here on crypto space because of what he had done. LOL!

PepeLapiu

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Quote from: nullama on May 23, 2022, 01:45:02 AM

This doesn't make any sense.

At that time he was mining Bitcoin with a normal computer, and Bitcoins were basically worthless, so basically he got the pizzas for free.

He actually continued to mine and get more pizzas, even when lightning was new he bought more with it.

Bitcoin is money, you can do whatever you want with it.

People think that he only had 10k BTC and traded it all for pizza. That's nonsense. Most people that say Laszlo made a mistake usually don't know the history of how that happened.

It was actually a great thing to do, not a mistake at all!.

One tiny correction. He didn't get the pizzas for free. In 2010 you already needed a pretty high end gaming rig to mine Bitcoin. And you still had to consume a lot of electricity too. I would guess the electricity alone to pay for that pizza was over $25.
Bitcoin incorporates a lot of the values of free market. In in the free market, there is no such thing as a free lunch....or free pizza.

non fungible anxiety

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Well, the original idea was that bitcoin would be the new everyday currency, so he followed the times mindset. Now it's so valuable and transactions are expensive that no ones want to buy pizza with it, only lambos.

lixer

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Quote from: Johnlomape on May 22, 2022, 08:28:06 AM

A big lesson
Do you know your Bitcoin asset can worth more than you could ever image in time? Hodl and buy more since price is down and await the future to decide.
I'm a Bitcoin optimist!

Yes, we already know this but thanks for reminding us once again. It's helpful in case someone is worrying lately due to heavy bears and forgot that they are holding a valuable item (a piece of gem).

Nowadays it's now easy to determine if what cryptos are valuable and can worth more in the future especially if you are an experienced guy in cryptos but back on the days where btc was still new, no one would ever thought that it can rise above to hundred or a thousands of dollars. That is why we have that pizza guy laszlo that confidently spends a whopping of 10k bitcoin only for the two boxes of pizza. Sorry but some of your approach are kinda offensive. You are not respecting the hero or the legend that introduce bitcoin to the world as a legit currency.

nullama

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This doesn't make any sense.

At that time he was mining Bitcoin with a normal computer, and Bitcoins were basically worthless, so basically he got the pizzas for free.

He actually continued to mine and get more pizzas, even when lightning was new he bought more with it.

Bitcoin is money, you can do whatever you want with it.

People think that he only had 10k BTC and traded it all for pizza. That's nonsense. Most people that say Laszlo made a mistake usually don't know the history of how that happened.

It was actually a great thing to do, not a mistake at all!.

Newlifebtc

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Quote from: hZti on May 23, 2022, 12:35:50 AM

I think many people seem to miss, that his bitcoin address was known and after ordering the pizza there was still some 81.000 Bitcoins left in there. So to all the people that would say that he is stupid for buying the Pizza, I think he can only laugh in his Ferraris.

No body said i he was stupid buy Bitcoin with pizza worth 10,000 BTC, the thing is what he did make bitcoin to be popular and people began to know bitcoin and see today his name has be known by people and different set of people, can you believe that with out exchanging bitcoin to pizza some wont have known that can be use for exchange of services, if his bitcoin address is known is part of popularity

hZti

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I think many people seem to miss, that his bitcoin address was known and after ordering the pizza there was still some 81.000 Bitcoins left in there. So to all the people that would say that he is stupid for buying the Pizza, I think he can only laugh in his Ferraris.

Lubcub62

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even though he lost 10,000 bitcoins but he deserves credit for carving his name as the person who first proved that he could use bitcoin as a means of payment in the real world. in fact I think his name Everywhere else will be in the world record holder's books. as the first person to use bitcoin and prove bitcoin can be used in the real world.
and what you need to know is that at that time he was able to buy a pizza with 10,000 bitcoins. i think he still has more bitcoins he keeps. he is no ordinary person. Of course he knows the potential of bitcoin in the future. he is just a person who dares to take steps to make history in digital money (bitcoin). he is not the inventor of bitcoin but the first user to transact in the real world with bitcoin. I appreciate him

batang_bitcoin

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Quote from: m2017 on May 22, 2022, 03:55:09 PM

Quote from: batang_bitcoin on May 22, 2022, 03:23:51 PM

It looks like what laszlo did was quite negative based on your explanation. The guy didn't even regret what he has done and it's the main reason why the exchange of bitcoin into other things has started and has come with a value.
And if anyone has to spend his/her bitcoin, there's nothing wrong with that. Satoshi did even make bitcoin for purchasing and for means of transfer/exchange so, it's okay to spend if you want to and do whatever you want like holding too.

Laszlo's purchase of pizza can't be considered something negative in any way, even despite the cosmic amount that those 10.000BTC are now valued at. On the contrary, this event had a huge positive impact on the entire bitcoin-community and it showed for the first time that for bitcoin you can buy something physical and tangible, which was not there before. This day is a push for bitcoin, without which everything would be different.

That's what OP is looking for based on his explanation about Laszlo's pizza purchase.

Quote from: m2017 on May 22, 2022, 03:55:09 PM

Why should Laszlo regret what he did? Those bitcoins at that time were worth very little, and he had a lot of time and opportunities to make up those BTC many times over. Also, most likely, there was a lot of time to sell those btcoins at one of the stages of the formation of this cryptocurrency.

It was also based on the interview that I've watched about him that he told it directly that there's no regret and you're right, the price of bitcoin wasn't that much before. And the best thing is that he has contributed a lot to the current phase of the bitcoin community right now.

ololajulo

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Quote from: mk4 on May 22, 2022, 09:31:29 AM

Quote from: KaliLinux on May 22, 2022, 09:27:07 AM

True that but I think people are more concerned now about that spending because of what Bitcoin is today and its worth but not really the spending. Looking at the worth of those Bitcoin today and the number of pizzas they were spent on is imbalanced if I may say it like that but people have to understand that we cannot compare then and now and people can actually spend because thats part of its essence too, I believe.

Is that really a good way of looking at things though? Like, "screw enjoying my life and spending $41 for some pizzas, this money could be worth a lot more pizzas in the future!" That's just dumb.

Look, if he was bullish on bitcoin in the first place, then he likely covered that 10,000 BTC and likely purchased a lot more than that.

I dont understand how people look at that guy foolishly. One of the constraints broken was the ability to use bitcoin as currency, It does not matter the value it was then. Beside no entity ever precede bitcoin, so it was difficult to believe it would turn out this way. Nothing prove that the pizza seller is still holding the coin and nothing prove the buyer used all the coin he had for the trade.

Topic: Don't trade your Bitcoin like Laszlo Hanyecz - page 3. (Read 738 times)