Bitcoin Forum

It's wonderful to see how small things can change with days. :)


10,000BTC was equivalent to 41$, (a couple of pizzas,) today many dreams come true.

I saw the 60 Minutes segment with the guy who spent 10,000 BTC, and he says he is not upset that he spent it. Actually, he lives in a nice home and has a nice standard of living. I believe Satoshi sent him that amount based on his contributions to the nascent network. According to today's valuation, that would be worth about $800 million.

This is hilarious, but probably that guy has more than 10.000 Biitcoins in his hand, uhh.. it's already 9 years now!

Back then many are not pretty sure what is ahead of us for Bitcoin price, Maybe he is too hungry back then that is why a couple of pizza would be nice for a cheap price of 10,000 BTC and he is willing to add up the amount if the BTC is still not enough, If you would think about the past would you not be tempted to exchange your bitcoin for a pizza or anything that you like, No one knows what exactly may happen after a couple of years and he is not regretting his decision, Because I think he just mine a couple of more bitcoins back then.

Yes I watched the interview he did during the segment which aired over the weekend and mentioned 1 bitcoin was only worth about a penny (two and half). :-[
But in the famous song by Doris day may her soul rest in peace:
Que Sera Sera! Whatever will be will be. Que Sera.. Sera.
https://www.youtube.com/watch?v=xZbKHDPPrrc  :)

yeah instead of thinking he wasted those bitcoin it was their best investment ever.. he give it a real usage in the real world..,. and thats the most dificult par in the crypto assets.. give them a real world value.. other wise those token would be have those $41 price or even lower because anybode want them the most funny part is what  did tho the seller of the pizza with those bitcoins.

I wish I should have bought that 10,000 BTC from him and keep it at least for fun. Then I am a bitcoin millionaire now and could have enjoy my rest of life with the financial freedom.  :'(

By the way, we can learn a lesson from this case. If there are undervalued coins right now that have a potential in the future, those can also make your fortune.
 

There's no regret here since Laszlo is now part of bitcoin history and there is even a special day given in honor of that very historical transaction. Of course, the regret I think is on people like us thinking that we could have been a millionaire already if we were in the shoes of the man. The thing is that nobody can really be sure of the future and that time only a few had the vision enough to see that bitcoin can go as high as today. Remember that bitcoin started as a simple idea with no assurance that it can catch the attention and fancy of this generation and be the symbol of our displeasure with the traditional financial system. Happy Bitcoin Pizza Day, everyone!

Didn't know that this "pizza guy", was also part of this forum. So cool!  8)

And at least this guy had enjoyed and taste his 10,000 bitcoin rather than the guy who lost thousand of bitcoin just because his wife threw his hard drive. Perhaps that was the most grievous. ouchhhhy..

Yes, way back then only few bitcoin knows bitcoin and demand was low so that's very usual. AFAIK, he didn't regret to pay with those 10,000BTC because during that time price is really too low.

laszlo made a history and his name will be remembered forever with the transaction he made for trading 10k BTC for pizza. He created the first trade ever.

Instead of focusing with those potential coins that would pump in the future, you should focus with bitcoin.

That was really worth remembering. Who would have thought that pizza could worth that much back then. I wish I was the one who was selling pizza. I might be owning huge pizza stores already. Everything really happens for a reason so a single bitcoin that you have now might change your life in the future.

This is my first bitcoin pizza day that I'll be able to buy a pizza for bitcoin!

Woot!

We will be gathering at Scratch restaurant in Independence, OH on May 22 from 4-7pm.

I hope you can join to catch up and celebrate while enjoying a flatbread pizza.

As you may know, Scratch is one of the only restaurants accepting bitcoin at this time in the greater Cleveland area!

https://www.facebook.com/events/322255865133481/

Yes, I agree that Laszlo became a critical piece of bitcoin's history by making the first purchase of a real-world item with it. His lack of regret seems to come from his recognition that he played an important historical role. Nonetheless, one takeaway from this story is that the price of bitcoin today may be regarded as insanely cheap by future generations.

Wow, I wish I'm just living near that restaurant. It's a good thing that there's a restaurant who recognizes and remembers this kind of event in crypto world.
If I also have that amount of Bitcoin before, I would have bought cheap goods through it.

I am asking myself here why do I keep seeing this $800 million figure used by you and all the publications? According to my calculations, 10000 Bitcoins is actually only worth $80 million at the price of today. Is something missing from my calculations or is Anderson Cooper the famous journalist and all the other news publications making a mistake?

Is it? I will love to sold Pizzas then  :D 10,000BTC was equivalent to 41$ (a couple of pizzas,), guys give me a break! I like to buy Pizza with BTC but remember BTC has its own value

I'm not sure if you followed this thread or if I followed your post correctly, but that's what happened in the past. This thread is celebrating the old and famous tale of the 10k BTC for pizzas.


Yeah, it's a mistake imo. Even if you use ATH, 10k BTC won't even equal to $300 million.

This is true the guy isn't having a regret I mean why would he?
Back then it was just around $41 and nobody expect the price of Bitcoin to raise this high.
And I agree why would he have regrets to his action he became legend in crypto industry he would go down in history.
And for sure he still have a good amount of Bitcoin in his hands .

Haha mate, we can not be wishing now because bitcoin has turned the way it is now. Have we also thought if bitcoin has continued to worth less than $41 for that 10,000 unit at the moment  :o Sure, the story would be different, that he spent those coins when it was ripe to be spent and thumps up would have been for him. He took the decision he was to take then. For my part, if I take such decision, I would have done that based on reason.

Just as you said though, it is all for the lesson. Some altcoins are still up for grabs but who knows the one that will bull next even as binance is doing .

one thing that i have always wondered about the Pizza case was how much "more" bitcoin does he have. because when it comes to the pizza story people always focus on how much what he spent is worth today but they miss the fact that someone in early days who spent 10k bitcoin surely owned more than 10k and it may have even been less than half of his total bitcoins! so even though the amount spent looks big but he may not even care as he still has more money than he can spend today!

This celebration made me aware to believe bitcoin price in the future, I always think when I spent bitcoin per week around 0.003 BTC it's from signature campaign payment and at this time I just can buy for 10 kilogram of rice but I don't know what will happen in 2020 2021 and so on. Maybe with 0.003 BTC I can buy a new motor cycle and another stuff more than 10 kilogram of rice. And surely I'll regret it in the future, so now as much as possible I try to not use bitcoin and I intend to store it in my cold storage for a long time. 

Those coins was a symbolic victory for Bitcoin, because the news coverage of this event, showed the world that Bitcoin had value and it put Bitcoin on the map. It also made Lazlo famous, which cannot be bought with all the money in the world.  ;)

We should celebrate Bitcoin Pizza Day, because it was the first time that people actually realized that Bitcoin could be used as a currency and that it has actual value.  ;)

I will buy my Pizza today with bitcoin and be proud of what Lazlo did for us back then.  ;D

Let's eat to that! Cheers! 🍕🍕

No, pizza isn't that worth that much, it's still just some dollars yet Lazlo still think that 10,000 btc isn't enough to buy a pizza. lol!

This is the question now, if the pizza parlor kept that 10,000btc.

Happy pizza day! Now it is possible lots of pizzas just for one btc, and not only pizzas lol

Happy Bitcoin Pizza Day! Y'all ... Who's getting hungry? ...


Man spends millions worth of bitcoin on pizza ...
- https://www.cbsnews.com/video/meet-the-man-who-spent-millions-worth-of-bitcoin-on-pizza-60-minutes-2019-05-16/

@hugeblack - I was just about to create a thread to celebrate this glorious day when I noticed you beat me to it!

We've created an infographic to get a pizza the action, with a few fun facts about what that kind of dough would buy today!  ;)




Bonus fact: Unfortunately for Jercos (the recipient of the 10,000 BTC) this took place before the infamous I AM HODLING (https://bitcointalk.org/index.php?topic=375643.0) thread, and he sold his coins when the value rose by 10x a short while later for just $410  ::)

Who knew how much the price would grow over the next 9 years!


What would you do with 10,000 BTC these days? I'd be on the beach of my private island somewhere scarfing down pizza and champagne (served by my robot butler OFC).

Ronnie @ Cloudbet

One of those who witnessed what happened, what do you feel in those days and the situation now, I do not think you were expecting Bitcoin to continue for ten years and to gain all this value.


I think I will design some BTC Pizza shirts and sell them for 0.00001BTC Mirror of 10,000 BTC using LN.

I guess I'll be eating pizza again today, and that while I already had a pizza this Monday (there goes my diet lol).

I'll hype up some people around me to eat pizza too, and I'll pay for them in Bitcoin. It's a good way to utilize the higher price on a very important day in Bitcoin's history.

1 regular pizza is ~0.002BTC (€14) and one day I'll be reminded that I paid 0.0018BTC too much.  :D

If you read some of my early posts, I had perhaps demonstrated more hope for the Bitcoin project economically than most, however, I was concerned in regards to some technical aspects and future political / regulatory issues etc.,

In terms of supply, I actually though Bitcoin had missed / passed it's point of economic inception vs adoption. It took longer than I thought / predicted. I also didn't like some aspects of the way the project and early community seemed to be headed. I moved out of Bitcoin (temporarily) to recover some debts and business obligations and to continue with retail forex trading etc., (which was more profitable at the time) I had a lot of personal funds stolen, confiscated and/or lost. Not just Bitcoin.

I have Signed and Verified my (old) zero balance wallet here (unlike CSW currently):
- https://bitcointalk.org/index.php?topic=4630066.0

I've always believed in the Bitcoin project and it's potential. I some ways, I've maligned myself from the industry.

Realize that I left this forum before Satoshi and returned in 2013.

Currently I make a basic supplemental (personal) income from mining (at home) mainly: Bitcoin (BTC), Litecoin (LTC), Zcash (ZEC) and Monero (XMR).

I prefer genuine privacy projects, not for illegality, but to help preserve all our Rights and Freedoms (both online and in the real world), as well as towards 'true' digital cash.

Peace !

Glad to know that are still people remembered what happened before, the very funny yet memorable history. As I remember this guy, I don't know if I will be happy or disappointed because the value of the 10,000 bitcoins now is worth millions.
Additional, look at this youtube video about the Bitcoin pizza: Meet the man who spent millions worth of bitcoin on pizza (https://www.youtube.com/watch?v=LjNMgeqUgks)

yes, I don't think this. Too much shitcoin is delivered by the undervalued coin. So I don't want to be trapped in some of the shitcoin, although I'm sure there will be some that will become gold in the future. So it's better for bitcoin, which we can predict in the future.

maybe to celebrate bitcoin pizza day, it should be a historic national moment on Bitcointalk by adding special ornaments like April Fool.  ;D

Merit can turn into pizza slices for the day, so we can share cheesy treats with deserving forum members  ;)

Ronnie @ Cloudbet

This should be an official holiday on the forum like a day members of the forum can share things for free like giveaways etc officially lol. I read online that this was the very first bitcoin transaction, was it truely the first? Because I saw a reply on the thread suggesting that he can trade his 10,000btc for $41 that only means others have been trading bitcoin before the plaza incident or is there something I'm missing?.

I'll be celebrating today by buying some pizza for lunch myself but this time it won't be 10,000 BTC but 0.0016BTC

5-22. What's good to smoke after enjoying a large greasy pizza?

I know people like to make fun of the btc pizza trade but consider the butterfly effect.  If that trade never happened bitcoin may have never become the juggernaut it is today.  

Its really interesting to back and look at the old posts from 2010 knowing what we know now.

This shows the potential of BTC. It was underrated

As i said in the other thread, the CBS program (and Laszlo) were both wrong. TODAY, it would be 80 million, not 800. 1 bitcoin is 8k, not 80k.

Its easy, just add the zeroes: 4 zeroes + 3 zeroes gives 7 zeroes, NOT 8. How hard it can be?

41$ was in fact overpriced, but given this was one of the first bitcoin transactions in the real world, i think they were willing to pay extra to convince someone to do it. More interesting would be to ask whoever got the 10k ₿ and then bought and sent the pizzas to Laszlo what he did with that money.

I think the actual pizza guy is that person, you know, went the trouble to buy the pizzas with his fiat in exchange of this imaginary currency that could become zero dollars tomorrow, he took a leap of faith there... Did he hold onto those bitcoin?

Everyone is talking about how much would that bitcoin worth now but that doesn't mean the person who spent it back then would have been a multi milionare today. If he spent it for a couple of pizzas then I'm pretty sure he would have also spent it later when the price was up to 1-10$ for something else. Think if you would have been in his situation, would you still hold your bitcoin when you know you can cashout $50k instantly? So forget about the value of those bitcoins in today's market because he wouldn't have kept it until today.

BlockChain24.co (https://www.blockchain24.co/happy-bitcoin-pizza-day-everybody/?utm_source=forum&utm_medium=referral) has just reminded me about it
Wow, it's almost a decade...

Yes, you are right, 10,000 BTC would be worth about $80 million today - somehow an extra zero was accidentally added by Anderson Cooper. Nonetheless, that's a massive chunk of money.

I cant imagine the reaction of the person behind it for sure like us who regret not holding bitcoin before the bull run of 2017 and now we can see the start of bull run again, maybe most of his lifeline will be full of regret on what he or she had done.

It was the biggest rip off ever.

Ordering pizza in celebrating of the 800 million dollars that was celebrated on za! Guy is a american hero

The transaction that spawned Bitcoin Pizza Day will go down in history!

For every year that passes, the value of crypto, in general, has increased. This proves time and time again that it is not the market that progresses the tech, but the individuals supporting it.

The community is a powerful force that drives the progression of blockchain into the future.

The purchase of 2 large pizzas was the first documented use case of crypto to be exchanged with a merchant. From there, its utilization has substantially increased!

Now governments and large entities, like banks, are researching and implementing blockchain into their systems. Though this may not be the preferred usage for everyone, it is proving that the tech is highly valuable and is incredibly disruptive.

All and all, we must give a hats off and a round of applause to the two men who made a small interaction a monumental occasion that we can all celebrate together!

Happy Bitcoin Pizza Day to everyone! Cheers and enjoy a slice for our forefathers

It's certainly very unusual now. Now having 10 000 bitcoins it is wealth. Represent as it's a shame this man for that he so spent their bitcoins.

yes in the last 10 years many people could realize there dreams with bitcoin.
But also many People lost in the last 10 years huge amount in investing at false time :D


regards

I dont think anyone who did this will want to remember and it is also a lesson to learn from for every holder.

that is a good idea, I like that...  ;D

I wouldn't call it a choice but I call this one a tragedy. I don't know how much the owner of those 10,000 bitcoins will say now. If you will convert that amount to the ATH let's say it was $19,000. So $19000 x 10,000 = $190,000,000. So this is it everyone. A $41 for $190M. This is why I call this tragedy and what would be the regret of that guy with this. This is what I'm dying to know.

Of if only he knew what he would be capable of achieving with 10,000 Bitcoins :-\
Sad guy's fate, i wonder what price would be by now if would be willing to exchange those during current times :D
Nevertheless we should all learn from these mistakes and prepare ourselves for what price is coming next ;)

The truth is that you wont also know that the price of bitcoin will skyrocket if you are in his position  because bitcoins back then is not really that important and have only a little to less value when compared to the latter years  but let say that he still have those 10k bitcoins , i think he is now a multi billionaire stud  .  

Like what you said , this should be a lesson to him and also to all of us that we should not be hasty in life especially on bitcoin and cryptocurrencies becuse we now know the true worth of cryptos  .

No, this was referring to the one which is now being celebrated. There's no more time he bought pizza. I just have read that topic.

He seems pretty optimistic about the entire ordeal. Check out this article by Bitcoin Magazine,
https://bitcoinmagazine.com/articles/the-man-behind-bitcoin-pizza-day-is-more-than-a-meme-hes-a-mining-pioneer/ (https://bitcoinmagazine.com/articles/the-man-behind-bitcoin-pizza-day-is-more-than-a-meme-hes-a-mining-pioneer/)

Laszlo Hanyecz, the individual who ordered the pizzas, approaches the infamous pizza purchase, and questions surrounding it, the same way he approaches Bitcoin: with good-humored aplomb, rather than bitter regret. In fact, he doesn’t see it as a loss at all; he sees it as a win.

“A trade happens because both parties think they’re getting a good deal,” he said. “I felt like I was beating the internet, getting free food. I was like, ‘Man, I got these GPUs linked together, now I’m going to mine twice as fast. I’m just going to be eating free food; I’ll never have to buy food again.’”