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Author Topic: 10000 BTC for a pizza?  (Read 10028 times)
mccorvic
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June 21, 2012, 05:34:37 PM
 #41

I have had a few friends who know little about BTC but have still heard the pizza story from somewhere.

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June 22, 2012, 12:13:20 PM
 #42

Hahaha, I bet he feels like shit now and thinks he should have kept them Cheesy

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June 22, 2012, 02:12:53 PM
 #43

Hahaha, I bet he feels like shit now and thinks he should have kept them Cheesy

That's -really- unlikely. When people realize that they can actually do stuff with coins it makes them go get even more. He probably feels much better about buying a (historic) pizza with bitcoins than spending dollars on pizza which could have gotten him bitcoins. And the amount bad he feels about both is probably negative.

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June 22, 2012, 03:36:49 PM
 #44

I'd give 1 BTC for a pizza right now.

i wouldn't.  1 btc will be in the thousands very soon.

Not if people don't exchange them for other things, like pizzas.

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June 22, 2012, 04:23:04 PM
 #45

Anyone think an investment in litecoin is worth it?
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June 22, 2012, 04:23:47 PM
 #46

Anyone think an investment in litecoin is worth it?
HAHAHAHAHAHAHA

no.

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June 22, 2012, 09:08:19 PM
 #47

Anyone think an investment in litecoin is worth it?
No. Literally no one thinks that.
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June 23, 2012, 09:46:01 AM
 #48

I came across this thread just today... At first I though he offered $10 (we use , for decimals and . for thousands) but then I realized!!! :O

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June 23, 2012, 09:54:05 AM
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>I bet he is okay cuz he has 200,000 more:)

Yeah seriously, he had ample time to mine more at that stage and frankly I doubt those would have been the only coins in his possession. And just for context, what would have stopped him from dropping 30 bucks to buy 10,000 more? People seem to think that once his coins were gone he had no hope of getting any more, the logic mystifies me.

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June 23, 2012, 08:28:09 PM
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>I bet he is okay cuz he has 200,000 more:)

Yeah seriously, he had ample time to mine more at that stage and frankly I doubt those would have been the only coins in his possession. And just for context, what would have stopped him from dropping 30 bucks to buy 10,000 more? People seem to think that once his coins were gone he had no hope of getting any more, the logic mystifies me.

As somebody who had several thousand coins (from selling something small and cpu mining) back when they were they were somewhere around $0.005, It absolutely wouldn't surprise me if the vast majority of the other "early adopters" from those days had no coins left.

I sold the majority of those very early coins when the price jumped 10 times(!) up to $0.05 in the course of a few days. I also gave many away to friends to convince them to try out bitcoin (I mean, giving away blocks of 50 or 100 coins at a time).

It's not like we knew the price was going to rise so much.
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June 23, 2012, 08:47:12 PM
 #51

What everyone needs to remember is, that part of the explanation as to WHY bitcoins are valuable today is because people started using them.

If we go all butterfly effect on this, one could imagine that if he had not paid that amount in bitcoins for that pizza, then bitcoins would not have caught on, and the coins would be worth nothing today.

All in all, he did the right thing in buying that pizza, even if he did think the value was going to go up.

Spending bitcoins because you think they are worth something is good, it will help increase their value.

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June 23, 2012, 08:56:52 PM
 #52

What everyone needs to remember is, that part of the explanation as to WHY bitcoins are valuable today is because people started using them.

If we go all butterfly effect on this, one could imagine that if he had not paid that amount in bitcoins for that pizza, then bitcoins would not have caught on, and the coins would be worth nothing today.

All in all, he did the right thing in buying that pizza, even if he did think the value was going to go up.

Spending bitcoins because you think they are worth something is good, it will help increase their value.

Good point!

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June 24, 2012, 06:10:04 AM
 #53

I recall the 10,000 BTC was worth about $50 at the time, so whatever that exchange rate translates into.  $50 is still a lot for two large pizzas, but I suspect he wanted to give an incentive for someone to do it.

if you try to buy anything from any merchant that is not yet into bitcoin, you probably would not get it even at a 100x markup. most merchants i ask about bitcoin don't even consider it a scam. they just don't consider it at all.

else, if you can buy something for bitcoin, please do so and don't bother hoarding. you are one of those who know where to convert fiat to bitcoin so you don't loose anything if you use bitcoin.

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June 25, 2012, 01:11:05 AM
 #54

Anyone think an investment in litecoin is worth it?

Totally, I have about 140 that I'd part with.  PM me with an offer.  Last I looked, they were worth about 8/10th of a bitcoin, but it would take at least 0.5 Bitcoin for me to fire up my litecoin client and resync.

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June 25, 2012, 02:57:39 AM
 #55

How many toppings did he get?

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June 25, 2012, 03:21:10 AM
 #56

How many toppings did he get?

Second result after searching for pizza:
https://bitcointalk.org/index.php?topic=137.0

It was actually 2 pizzas.

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