Bitcoin Forum

Other => Beginners & Help => Topic started by: opsd1 on March 26, 2013, 08:35:53 PM



Title: Pizza sold for 10,000 BTC in 2010...
Post by: opsd1 on March 26, 2013, 08:35:53 PM
http://motherboard.vice.com/blog/this-pizza-is-worth-750000


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: SR20DEN on March 26, 2013, 08:38:39 PM
Yeah this poor topic has been beaten to death. Obviously the guy wouldn't have done this had he known it's future value.


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: LeTanque on March 26, 2013, 08:54:01 PM
It's pretty easy in hindsight to proclaim the purchase as a bad idea, but as stated in the article, without people like Hanyecz, no one would be using the currency.  I've spent a number of coins up to now as well, I bought a, now, $100 pizza from pizzaforcoins.  But that doesn't matter, it doesn't invalidate the importance of those transactions.  At the time, that's what btc was worth. 

Hanyecz is no fool; he spent 10k btc on a pizza, and probably still has a 100k btc!


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: MikeMark on March 26, 2013, 09:11:43 PM
I'd happily trade a beautiful home-made pizza for just BTC100.

Anyone?



Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: jwzguy on March 26, 2013, 09:12:33 PM
Yeah this poor topic has been beaten to death. Obviously the guy wouldn't have done this had he known it's future value.
That's not obvious at all. People are using Bitcoin for purchases every day, (Bitcoinstore.com has done well over $100,000 in sales this month). We just buy more if we want to save a certain amount of coins, effectively "spending" the USD. Using Bitcoin helps adoption.



Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: Mike Christ on March 26, 2013, 09:14:23 PM
I'd happily trade a beautiful home-made pizza for just BTC100.

Anyone?



That had better be an orgasm-inducing pizza, buddy.


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: gamelife859 on March 26, 2013, 10:35:49 PM
well 10 years from now, people will be amazed we are paying a whole 0.5 BTC for pizza.


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: mantis_tobbogan on March 27, 2013, 01:01:55 AM
That man serves as a martyr and example to us all.


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: thomashrev89 on March 27, 2013, 01:55:14 AM
shiiiiit O_O


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: agibby5 on March 27, 2013, 05:04:27 AM
If everyone held their bitcoins, we wouldn't have a bitcoin economy.


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: Bitzing on March 27, 2013, 05:10:08 AM
Yes we should be thanking this man for buying/spending bitcoins. The transactions are what rises the price, which I'm sure this is not new info to most of you  ;)

The smart ones will take this guys lesson and start buying into Ltc and other smaller currencies now when they are still easy to mine and cheap to buy. If they become anything like a BTC there will be serious money to be made.

Don't hold off and kick yourself in the arse again in a couple years!


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: notme on March 27, 2013, 05:19:06 AM
https://bitcointalk.org/index.php?topic=137.0


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: Minlukaz on March 27, 2013, 08:35:04 AM
This is a pretty touchy subject a lot of older miners don't like to talk about. I think everyone is afraid of the new pizza issue happening with higher priced items down the line, thus holding on to them for a while longer than they used to.


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: wishlog on March 27, 2013, 09:33:30 AM
The guy who give up 10,000 coins should have another 100,000 coins in his wallet, he won't care about it.


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: torzsy on March 27, 2013, 11:36:01 AM
This is the dumbest thing I ever heard of.  :o



Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: empoweoqwj on March 27, 2013, 11:39:19 AM
Hope it was a big pizza


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: cr00k on March 27, 2013, 11:49:41 AM
haha! hope that pizza was worth it!


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: crazyfingers on March 27, 2013, 12:01:28 PM
The smart ones will take this guys lesson and start buying into Ltc and other smaller currencies now when they are still easy to mine and cheap to buy. If they become anything like a BTC there will be serious money to be made.

Don't hold off and kick yourself in the arse again in a couple years!

How does one buy litecoin?

Is it available on mt. gox or some other exchange? (I used coinbase to get my BTC)

Why do you expect it to gain marketshare alongside BTC? Do you think it'll be like silver to BTC's gold?

Because obviously BTC is already highly divisible down to the 8th numeral or whatever.

Thanks in advance for answering my questions.


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: WishIStartedSooner on March 27, 2013, 12:13:51 PM
The smart ones will take this guys lesson and start buying into Ltc and other smaller currencies now when they are still easy to mine and cheap to buy. If they become anything like a BTC there will be serious money to be made.

Don't hold off and kick yourself in the arse again in a couple years!

How does one buy litecoin?

Is it available on mt. gox or some other exchange? (I used coinbase to get my BTC)

Why do you expect it to gain marketshare alongside BTC? Do you think it'll be like silver to BTC's gold?

Because obviously BTC is already highly divisible down to the 8th numeral or whatever.

Thanks in advance for answering my questions.

I buy bitcoin from gox and transfer it to BTC-E.com for buying litecoin when I wanna buy some LTC.

As far as how high the price will go, nobody knows.

Seems to be linked to bitcoin a little bit, but not too much (it's been holding steady at about 50 cents a coin for the past few weeks, up from crashing at like 7 cents a coin).

Someone came out with a silk road equivalent for it recently, so if that's not a honeypot it should stimulate the litecoin economy quite a bit.

but who knows?


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: Bitzing on March 27, 2013, 12:21:39 PM
Yes no one really KNOWS if LTC will be on a  come up, we would all retire tomorrow if it was that easy.

I personally think you have it right about LTC being BTC silver. I'm going to PM you a little incite on my perspective instead of over running this thread with my mumblings  :P


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: crazyfingers on March 27, 2013, 12:31:20 PM
Thanks for the reply and the link WishIStarted.

I still don't quite understand the point of Litecoin when BTC is already highly divisible but I guess it provides competition and maybe makes governmental tracking / bans even more difficult. What the hell I'll buy a couple hundred bucks worth.


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: crazyfingers on March 27, 2013, 12:35:54 PM
Yes no one really KNOWS if LTC will be on a  come up, we would all retire tomorrow if it was that easy.

I personally think you have it right about LTC being BTC silver. I'm going to PM you a little incite on my perspective instead of over running this thread with my mumblings  :P

Cool. Thanks. Yes, of course it is all about risk vs reward, but at the same time it's hard to shake the feeling we're on the cusp of something revolutionary.


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: edaikuan on May 25, 2013, 03:12:13 AM
That is probably one of the most expensive pizza in the history of pizza. But at that time, the buyer must thought that he made a good deal.


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: tehelsper on May 25, 2013, 03:18:13 AM
That is probably one of the most expensive pizza in the history of pizza. But at that time, the buyer must thought that he made a good deal.

In present value, it was probably a good deal for the buyer. Transactions like these were important to prove Bitcoin was a usable currency.


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: alkuluku on May 25, 2013, 03:26:32 AM
This is the dumbest thing I ever heard of.  :o
And everyone who didn't buy Microsoft shares for $21 in 1986 were idiots.


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: TheGovernedSelf on May 25, 2013, 03:28:04 AM
well 10 years from now, people will be amazed we are paying a whole 0.5 BTC for pizza.

0.1 now


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: itxtutor on May 25, 2013, 06:25:09 AM
Damn if he kept the coins, hes now f**ckn rich


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: TimJBenham on May 25, 2013, 06:36:15 AM
Meme is wrong.  ::)

 It was 10k BTC for TWO pizzas.


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: bohanz on May 25, 2013, 07:32:56 AM
If he kept the coins, he would have been still broke. What if no one had ever made a transaction with the useless coins, as they essentially were at the time?


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: TimJBenham on May 25, 2013, 08:03:43 AM
If he kept the coins, he would have been still broke. What if no one had ever made a transaction with the useless coins, as they essentially were at the time?

But but.. what if he had been satisfied with ONE pizza and had kept the other 5,000 BTC? Who eats 2 LARGE pizzas at a sitting anyway?


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: MorXpe on May 25, 2013, 10:43:31 AM
This is a pretty touchy subject a lot of older miners don't like to talk about. I think everyone is afraid of the new pizza issue happening with higher priced items down the line, thus holding on to them for a while longer than they used to.

True. Gavin Andersen was very uncomfortable when asked about "bitcoin faucet" (interview: Triangulation 103).

Bitcoin fauced used to be the largest bitcoin giveaway in history. It was a script that send you free bitcoins to play around with. At the beginning it used to give away 5 btc to every visitor (first determined by IP and Bitcoin address, later by Gmail account). This value decreased over time to mBTC.

It appears that Gavin Andersen gave away total of 10'000 BTC, an equivalent of 1'300'000 USD today. (if I remember it correctly...).
Of course it wasn't all his money, he used to get donations to do this... but still.


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: kieras on May 25, 2013, 11:01:59 AM
I want that great looking pizza.


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: RobinHood27 on May 25, 2013, 11:12:20 AM
Well, congrat to this man, that was real BitCoin promotion in that time


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: MorXpe on May 25, 2013, 11:17:25 AM
It appears that Gavin Andersen gave away total of 1'0000 BTC, an equivalent of 1'300'000 USD today ... Of course it wasn't all his money, he used to get donations to do this

The first 10,000 bitcoins were provided by Gavin. They were his own. Donations were in addition to that.

Now that's something. Or is it?

It's like an inflation vs deflation memory battle.

Now when you think that people used to buy a car for $1000 in the 50's, you think you're doing so much better than they did.
But truth is that $1,000 in 1950 had the same buying power as $9,728.86 in 2013.

When someone spend 10,000 BTC on pizza, an equivalent of $10 at the time, you think he's been robbed.


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: philr14 on May 25, 2013, 11:27:17 AM
Wolrds most expensive Bitcoin in todays rates.


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: Ardenyham on May 25, 2013, 01:43:29 PM
But truth is that $1,000 in 1950 had the same buying power as $9,728.86 in 2013.

Wow $9,728.86 , what a precission


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: veracity on May 27, 2013, 11:33:51 PM
It just shows how quickly the price has risen.  It will continue going up for the foreseeable future.


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: giligon on May 27, 2013, 11:48:31 PM
iot is really expensive pizza


Title: Re: Pizza sold for 10,000 BTC in 2010...
Post by: daywalker on May 28, 2013, 12:17:47 AM
Ill hand deliver a pizza to anyone for 10k btc  lol