Pizza for bitcoins?

[genjix]

>I can't generate thousands of coins a day anymore

laszlo printing $100 everyday

and... 10k btc (!) for a pizza. more like 160 btc now.

[1713564842]

1713564842

[1713564842]

1713564842

[1713564842]

1713564842

[Vinnie]

and... 10k btc (!) for a pizza. more like 160 btc now.

For a second there I thought I'd be able to quit my job and order pizza for a living!

[lulzplzkthx]

$18,000 pizza. Very nice.

I hope it was delicious.

[Littleshop]

Someone could write a story about the $18,000 pizza!   

[JackSparrow]

necrophiles!

[Ian Maxwell]

I'll be happy to order anyone a pizza for only 1000 bitcoins!

[ribuck]

I've written it up:

"What is the world's most expensive pizza?"

[Littleshop]

I've written it up:

"What is the world's most expensive pizza?"

A+!

[marcus_of_augustus]

Check this out ... smoketoomuch couldn't sell 10,000 btc for $50 about a year ago ....

http://bitcointalk.org/index.php?topic=92.0

what were they thinking?

[fabianhjr]

I've written it up:

"What is the world's most expensive pizza?"

Less than a year later, on April 23 2001, bitcoins were trading for $1.95 each

Oh no! 2001!
Also, even if some where traded that high it would be more appropriate to be on the 1.70 level until the market moves further.

[SmokeTooMuch]

Check this out ... smoketoomuch couldn't sell 10,000 btc for $50 about a year ago ....

http://bitcointalk.org/index.php?topic=92.0

what were they thinking?

From today's perspective I'm pretty lucky not to have sold them for 50 bucks

[marcus_of_augustus]

Check this out ... smoketoomuch couldn't sell 10,000 btc for $50 about a year ago ....

http://bitcointalk.org/index.php?topic=92.0

what were they thinking?

From today's perspective I'm pretty lucky not to have sold them for 50 bucks

yeah, that's what I was thinking ... the "they" I was referring to was anyone who saw the offer and didn't buy them!

Easy to be a genius in hindsight eh?

[SmokeTooMuch]

Well, back in the days Bitcoins were a very risky thing and nobody knew what could happen to the project.
The pizza thing was one of the very first attempts to trade bitcoins with real goods.
Everybody could generate thousands of bitcoins per months so they didn't have a real value back then.

[marcus_of_augustus]

Well, back in the days Bitcoins were a very risky thing and nobody knew what could happen to the project.
The pizza thing was one of the very first attempts to trade bitcoins with real goods.
Everybody could generate thousands of bitcoins per months so they didn't have a real value back then.

I think you, or someone else who was around at that time, should write up an essay or similar to how things were, i.e, what was going through your minds and what kinds of things you were doing .... just for a historical perspective. Another yeah of smoking-too-much and it'll all become a blur and future generations will never know what it was like to be a bitcoin miner in the clean, fresh open fields of bitcoin paradise with your solo CPU rig doing 1MHash dragging in what would turn out to small fortunes in value from the ether ... it'll make a good narrative, imo.

[theymos]

I thought it was pretty cool how I was able to generate so much BTC when I first started using Bitcoin. It was fun and unique. A few times I generated two blocks in a row with my 3000 khash/s. My CPU was pretty fast compared to others on the network.

I sold 15,000 BTC on Bitcoin Market for ~0.003 USD: the all-time low on any market, AFAIK. I had measured my power consumption and determined that it only cost me ~0.001 BTC to make one BTC, so I thought 0.003 was a good profit margin. I knew the price would rise over time due to the deflationary nature of Bitcoin, but I didn't think it would happen so suddenly.

[marcus_of_augustus]

I sold 15,000 BTC on Bitcoin Market for ~0.003 USD: the all-time low on any market, AFAIK. I had measured my power consumption and determined that it only cost me ~0.001 BTC to make one BTC, so I thought 0.003 was a good profit margin. I knew the price would rise over time due to the deflationary nature of Bitcoin, but I didn't think it would happen so suddenly.

Neat story. What I find really interesting that even at that low of an exchange rate you were still able to be profitable. Obviously, the machines that are doing the mining have got a lot more powerful but I wonder if the margin has changed dramatically? Must be that law of price driving difficulty driving hardware selection driving profitability and energy/resources expended was in effect from the earliest days.

Maybe we should change the title of the thread to  "2 Pizza for 10,000 bitcoins? It really happened.

[xc]

I discovered Bitcoin in late 2009.  It really was a totally different time.  I guess that in the world of software one year feels like 5 in the real world.

I had spent a lot of time up to then thinking about the e-gold fiasco and the problems of centralization. Loom.cc was an intriguing possibility, but still relied on trust in loom-asset issuing organizations and a central Loom server to keep track of everything.

I surreptitiously stumbled on Bitcoin after relentlessly searching google for topics on agorism and crypto-anarchy. Information was hard to come by. There were zero mainstream references. The FAQ was very limited, but the careful eye would have been able to glean the key pieces that made the system genius: decentralization, open source, voluntary, pseudo-anonymity, predefined supply... The wikipedia page then was very basic (this was prior to the first deletion crisis). The only technical documentation was of course the white paper.  Satoshi had just transitioned to the SMF forum.

Satoshi walked freely amongst us then and answered our questions directly.  I felt like I had discovered some secret club of cryptoanarchists.  Posts were more like a few a day and it was easy to keep up with all the chatter.  There must have been less than 100 members on the forum then.  After having just read Alongside Night, one of my favorite posts from back then: http://bitcointalk.org/index.php?topic=39.msg345#msg345

Mining was easy.  All you had to do was download the client and hit generate.  No modifications necessary. Because Bitcoin Market had not yet been created, we were without an accessible valuation discovery mechanism.  The only exchanger was NewLibertyStandard.  He had this really simple ad-plagued website were he offered to exchange BTC for paypal.  There was no bitcoind yet, so everything was done manually through email.  I think he was exchanging for less than $.0005 per BTC and based his pricing on how much it cost him to generate.  He later started selling stickers for BTC, but I don't know if anyone actually traded for them.

It's funny though.  When it came to the economics and vulnerabilities of the system, we pretty much debated all the same 'fatal flaws' that newbies bring up now.  Watching the Bitcoin economy grow and develop feels like watching a planet being born.  Economic growth really is bottom-up and organic.

[bitjet]

this thread makes me wish I discovered bitcoin prior to the slashdot article. I'll never get social security, I've never had a bank account, I've got a little silver and not much in usd. Im hoping to put away a little bitcoin to help me in the future. So many coulda, shoulda, woulda's!

Now who wants me to buy them a pizza?

[SmokeTooMuch]

Satoshi walked freely amongst us then and answered our questions directly.  I felt like I had discovered some secret club of cryptoanarchists.  Posts were more like a few a day and it was easy to keep up with all the chatter.  There must have been less than 100 members on the forum then.

Yeah, I really liked beeing part of that small bitcoin family we were.
I read all the new posts every day and there was this "all new, exciting" atmosphere around.

I kinda dislike seeing the forum spammed by all this let's say "less important posts" nowadays because back then it felt like listening to some technology-socialist-anarchist-liberalist gurus.
I'm glad Bitcoin is finding acceptance by many people now but it has definetly lost it's secret-elite-flavour.

[marcus_of_augustus]

Satoshi walked freely amongst us then and answered our questions directly.  I felt like I had discovered some secret club of cryptoanarchists.  Posts were more like a few a day and it was easy to keep up with all the chatter.  There must have been less than 100 members on the forum then.

Yeah, I really liked beeing part of that small bitcoin family we were.
I read all the new posts every day and there was this "all new, exciting" atmosphere around.

I kinda dislike seeing the forum spammed by all this let's say "less important posts" nowadays because back then it felt like listening to some technology-socialist-anarchist-liberalist gurus.
I'm glad Bitcoin is finding acceptance by many people now but it has definetly lost it's secret-elite-flavour.

Who's to say there isn't a secret elite club somewhere trading the next, best crypto-currency right now?