Two pizzas for 10,000 Bitcoins
It's an old news but still worth thinking about. Back in 2010 a Florida programmer Laszlo Hanyecz managed to talk someone in Domino's pizza into selling two pizzas for 10,000 Bitcoins he had mined. Today these could be considered the world's most expensive pizzas worth around $87 million. During the pizza buy the Bitcoins were worth $41. Now May 22 has been named Bitcoin Pizza Day to commemorate the transaction.
When Laszlo's pizza buy was worth "just" $7 million, he said to New York times that "It wasn't like Bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool." His pizza buy was actually one of the first purchases done with the cryptocurrency ever. Although his decision might look stupid, back then people didn't really know what bitcoin is or how big it could become.
Bitcoin is currently trading at anywhere between $8300 and $9000, down from nearly $20000 back in December 2017.
What happened to the guy he sold the pizzas to? Well, he did something similarly stupid, he sold them for 10x profit, so 10 000 Bitcoin at around $400 in total. While making 10x profit isn't bad at all, thinking about it now it still sounds pretty ridiculous.
When Laszlo's pizza buy was worth "just" $7 million, he said to New York times that "It wasn't like Bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool." His pizza buy was actually one of the first purchases done with the cryptocurrency ever. Although his decision might look stupid, back then people didn't really know what bitcoin is or how big it could become.
Bitcoin is currently trading at anywhere between $8300 and $9000, down from nearly $20000 back in December 2017.
What happened to the guy he sold the pizzas to? Well, he did something similarly stupid, he sold them for 10x profit, so 10 000 Bitcoin at around $400 in total. While making 10x profit isn't bad at all, thinking about it now it still sounds pretty ridiculous.
more in bitcoin
What can you do with Bitcoin today?
What can you buy for Bitcoin? What can you do with Bitcoin besides, well, buying, selling, and holding Bitcoin?
What can you buy for Bitcoin? What can you do with Bitcoin besides, well, buying, selling, and holding Bitcoin?
Paying telegram crypto bots
Different crypto bots come and go all the time - but which ones are working now and actually paying out? Before investing any money in any of them, be sure to check their community chat to confirm they are still paying out.
Different crypto bots come and go all the time - but which ones are working now and actually paying out? Before investing any money in any of them, be sure to check their community chat to confirm they are still paying out.
Is it worth mining Bitcoin on your laptop?
In general, it is not a good idea to try mining Bitcoin with your regular laptop without an ASIC chip because your laptop is definitely underpowered. But...
In general, it is not a good idea to try mining Bitcoin with your regular laptop without an ASIC chip because your laptop is definitely underpowered. But...
Bitcoin ETFs, do they REALLY matter?
We have talked a bit about Bitcoin ETFs and how they could push up the price of Bitcoin, but there's a hidden danger in thinking about it like that. While it is true that Bitcoin ETFs might push Bitcoin price up a lot, talking about it and hoping for it might have a totally opposite result, at least short term. The market makers have done a good job trying to convince everyone that Bitcoin ETFs are a must for crypto growth. In reality, crypto has been doing good without the ETFs as well, and the reason why it might be influencing the price now, is the expectation of it, not much else. If you look into it, Bitcoin ETFs have been denied for the last five years, although they have been pushed all the time. Bitcoin ETFs for now are for Wall Street to make money. But Wall Street managed to miss the boat getting in cheap into the crypto market. So now they have convince everyone that the ETF proposals are paramount for the market to ever go up again. Most, if any, ETFs won't be approved this year, and this fact is being used by the big market makers to further drive down the price of Bitcoin, to buy it as cheaply as possible. The ETF proposals are in fact clouding the crypto market with the manipulative messages. Crypto market is not about ETFs, it's about its technology and adoption - and things are going great from this perspective. We should all forget about ETFs for now and Bitcoin price will again start increasing soon.
We have talked a bit about Bitcoin ETFs and how they could push up the price of Bitcoin, but there's a hidden danger in thinking about it like that. While it is true that Bitcoin ETFs might push Bitcoin price up a lot, talking about it and hoping for it might have a totally opposite result, at least short term. The market makers have done a good job trying to convince everyone that Bitcoin ETFs are a must for crypto growth. In reality, crypto has been doing good without the ETFs as well, and the reason why it might be influencing the price now, is the expectation of it, not much else. If you look into it, Bitcoin ETFs have been denied for the last five years, although they have been pushed all the time. Bitcoin ETFs for now are for Wall Street to make money. But Wall Street managed to miss the boat getting in cheap into the crypto market. So now they have convince everyone that the ETF proposals are paramount for the market to ever go up again. Most, if any, ETFs won't be approved this year, and this fact is being used by the big market makers to further drive down the price of Bitcoin, to buy it as cheaply as possible. The ETF proposals are in fact clouding the crypto market with the manipulative messages. Crypto market is not about ETFs, it's about its technology and adoption - and things are going great from this perspective. We should all forget about ETFs for now and Bitcoin price will again start increasing soon.
Current Bitcoin price prediction
The price of Bitcoin is extremely volatile. Just two days ago in gained around 10% in value. Compared to December 2017 the price is still more than $10k lower. But where will Bitcoin be by end of 2018?
The price of Bitcoin is extremely volatile. Just two days ago in gained around 10% in value. Compared to December 2017 the price is still more than $10k lower. But where will Bitcoin be by end of 2018?
  |