Bitcoin Forum

Can I just say that the person who bought a pizza for 10,000 bitcoins is a numbnuts?

He helped get the currency off the ground.

Sorry you can't appreciate that.

If Lazlo never bought that Pizza, Bitcoins would likely be worth little to nothing still

Why?  It was the exchange rate at the time.  He could have bought the pizza and then turned around a week later spent some cash and bought 10K BTC back.  10K BTC were simply only worth that much back then.   It would be like saying "I would like to say whoever sold 1 oz of Gold in 1950 for $30 (or whatever the exchange rate was) was a dumbass".  

I would also point out without exchange/commerce the coins essentially have no value.  Had he (and others) not traded trading Bitcoins for products & services the experiment may have failed a long time ago.  Price discover doesn't happen by magic.  It happens by people trading.  The more people trade the better idea we have that the price is an accurate one.  It has to start somewhere.

I think he deserves a monument. Make it a pizza.

casascius pizza coin = 10,000 btc

LMAO

I doubt this purchase made any impact on BTC value.

Roughly $110,000 at today's value. I hope that was a tasty pizza.

What about the guy who pays 1BTC for a pizza today? Will he be a dumbass in 10 years when each BTC is worth 10K USD?

Hopefully we still have pizza in 10 years.  :o

That is like saying "Grandpa your an idiot for spending a dollar cause now that could be worth $500 (I am making up numbers for the example)" You have to think, that a year in time, is a long time in the bitcoin economy. Just like 70 years is a long time to hold on to money now.

Which also reminds me that you should spend the money while you're still alive.

It was like one of the first bitcoin transactions ever.  At the time, it was like he got two pizzas for free.

OMG GENIUS!

BRILLIANT!

In two more years, people will say the same thing about the "dumbasses" that sold when it moved from 15 to 8.

I love the detailed in depth economic analysis offered by the OP but I am afraid I must disagree.

Can I say you are? Most worthless OP so far.

I'm still not sure. I'm going to have to really dig in and make sure that I am interpreting the charts correctly but I think he may be onto something. ;p

Would you buy a pizza today for 0.5 bitcoin?

Yes or not?

all i need now is a time machine and a bunch of high end cpu`s / gpu`s  :D

https://en.bitcoin.it/wiki/Units

We should add the "Pizza" to the list of units.

uh no, bitcoins was always going to make it, people actually knew about back in 2001-2006, satoshi must have had friends he talked to about it back then because i knew about bitcoins back then

You only need the time machine and a fist full of dollars.  Go back and buy the things!!

But either way:

mmmmmmmmmm  Pizza

Pizza is amazing, so I think they got a fair deal.

That story will be legendary. It already is. If bitcoin hits $1000 usd it'll probably be a story in every major newspaper. If it hits $0.0001 USD then we'll all be buying pizza for 10000 BTC. Now someone please get me out of this newbie zone I got the 4 hours and 6 posts and I need to put some smack down on BitMofo for not doubling my 1 BTC that I sent like 2 days ago or whatever. Peace.

Edit: Disregard I'm a Jr. Member now yay me.

Don't forget your USB stick with a copy of a GPU-enabled miner!

How could one dollar be worth 500 dollars, it will always remain one dollar, unless the value of USD drops to 0 and we're all using bitcoins in the future, in which case your grandpa sounds like a pretty smart fellow to offload it while it still had value.

I think you need to call him and apologise young man.

Wow numbnuts, you buy any pizzas since 2001? Should have bought bitcoins instead.

Make him a hero! http://imgur.com/DHxQM

what kind of pizza was this?

I also hope to have my BTC * 10K USD ... sweet. F the 401K, I'll retire on bitcoins

No. Did you forget your brain in bed this morning? I also can tell that you don't understand how an economy grows.

Uh no retard, I am an investor in real life, so I know what I'm talking about.

If you had stocks of Microsoft when it started selling its stocks on the first day(let's say a million shares), does it make sense for you to sell it for a pizza? or the equivalent of a pizza? Of course back then it was just penny stocks, but now it would be worth billions.

Bitcoins is just like stocks, you're suppose to take risks and make the right calls then and again.

He failed to make the right call. He failed to predict the market correctly.

That does not mean he is a dumbass.

Would you buy a pizza for 0.5 bitcoin today?

If BTC continue to increase in value (big IF) I wonder if in 5 years people will say WOW look what that dumbass purchased for 10 BTC. That could have been a new car now. Hindsight is 20/20....

And if bitcoin crash "oh back then i could buy a pizza for 0.5 btc. Now i must spend 10.000btc

"That person who sold a pizza at 0.5 BTC was a dumbass!"

LOL We already can say something like that! Bitcoin was as high as $35 USD per bitcoin, now it's down to $11.

But yeah I know it's only going to go up from here.

My only problem is the possibility of being hacked, I don't know enough about the software. Like why can TorWallet access addresses and put password locks on them? Does that mean that my one and only address right now can be accessed by TorWallet?

:) very nice work

I believe the pizza purchase was well worth it. Obv the guy who bought it had a zillion BTC and is now worth millions.

Genius.

OP failed to make a simple assumption:

Assuming Laszlo had 50k in BTC or more (which isn't unlikely) that sale gave the rest of his balance its current value.

If you spend 10 BTC today, how smart would the person ten years from now be calling you a "dumbass" for spending a million bucks worth of bitcoin on a pair of used Calvin Klein underwear.. or whatever the hell one buys for 10 BTC these days.

I ALREADY EXPLAINED THIS.

Most people who trade stocks really do call others dumb for not being able to forecast the future.

Stop reiterating things on my thread and go get an explanation from a professional somewhere.(A LAWYER there, go ask a lawyer)

Bitcoin is not like a stock, where you buy shares in a company that offers something and you can therefor expect it to grow (your Microsoft example). If everyone would just sit on their coins expecting them to grow, they wouldn't be worth a single cent.

It's things like this pizza deal that give BTC Value. In fact that was the first proof of Bitcoin having any real live value that I now of.

It wasn't the guy who bought it that was dumb.

That is a very silly comment.

Some day, in the future, some guy on a forum thread will say, "wow, solareclipse64236 was sooo stupid for buying that thing at $10/coin, didn't he know they would be worth $1,200 in only three years?!?"

He bought a pizza for the exchange rate of that time, what's wrong with that? It would be the same as if you decide to buy a pizza with 1BTC today, and without expecting, in 6 months 1BTC is valued at 1m dollars, would you call yourself a numbnuts? ???

You should spend the money while you're still young.

He could still have plenty of BTC in his savings.

Those that believe in Bitcoin will keep some as investments. If however you are planning to buy something that is available on a site that accepts BTC then it makes sense to support that website by getting just enough Bitcoins from an exchange to immediately purchase the item and support the Bitcoin economy. By doing this all our BTC will go up in value.

Do YOU know what the future will be?

lol, that 10,000 BTC for that pizza is now worth nearly $600,000.
60% of a million dollars  :o

Unless that pizza was solid gold.
I hope that pizza was good!

How far has prices changed..

I agree

A successful pizza place that accepts btc would be a nice investment than juz keeping the coins to myself. it'll be boring to juz wait around waiting for the PERFECT time. to me it's like waiting for the day i'd die and i'd spend everything on the last day.., pass the money around in support to the community...

it's his money, his bitcoins, his pizza to enjoy... he felt it's the right time to buy a pizza that day and made him happy...

happiness = priceless  :)

Don't even joke like that dude. Somethings are not meant to be joked around with...

FYI : I do not agree with calling the guy a dumbass or anything of the sort.   This guy did something that might have changed history.   Until that point Bitcoin was never used for commerce.  He was the first.    Because of that he is sort of a hero to the bitcoin community.    

Maybe a better way to phrase it,  because he did that he pushed Bitcoin ahead at least 2 years.

That being stated,   it's a valid metric (Bitcoin Pizza Index)  because it does show how much Bitcoin has progressed in the past 3 years, and because of that it's included in the official Ounce.Me Bitcoin Apps.



Well the official pizza index is up.

Via web:

http://www.ounce.me

Via Android Free:

https://play.google.com/store/apps/details?id=com.btc.ounce.me

Via Android Paid (no ads)

https://play.google.com/store/apps/details?id=com.bitcoin.ounce.me.paid

lol bitcoin pizza index

I believe we are all still early adapters, and we some of us will be laughed at later. thats why I plan to hoard the s*** out of my bitcoins.

Hey 59.570 EUR / BTC  and bitcoin-central is DOWN.... someone call the site owner!

Gold would be about US$32/Troy Ounce around mid fifties.  I think the free market rate for it now is something like US$1.5k...big bump, to be fair.  By the way Gweedo, are you familiar with Expression Engine?  My team has projects that overflow from time to time, would be good to check out your work, get a quote, maybe do biz in BtC.

I think you mean "money is inflationary" and "BTC is deflationary", yes?  Nodding at your point though.

Bitcoin is something if you give it away,
Give it away, give it away.
Bitcoin is something if you give it away,
You end up having more.

It's just like a magic penny,
Hold it tight and you won't have any.
Lend it, spend it, and you'll have so many
They'll roll all over the floor.

Money's dandy and we like to use it,
But Bitcoin is better if you don't refuse it.
It's a treasure and you'll never lose it
Unless you lock up your door.

I got what you were saying though, of course.

So what, all the folks are suppose to sit on their bitcoins and wait for their value to go up?

Hey buddy let me tell you something:  in order for you to make a profit, someone else has to lose.

Basic economics.

lol I heard this too xD