The 10.000 btc pizza...

[Bonanzacoin]

...guy is a hero in Bitcoin really. Because when bitcoin wouldnt be spend in the early days we all now wouldnt be here... Early spenders made it possible for bitcoin to develop. So to say he spend half a billion on a pizza. Well not in that time. What he actually did was to make it possible to boost bitcoin to the price of today.

He sacrificed, as other early spenders, money to give others money basicly. Because only now its a store of value because of these early spendings. He was one of the founders of the total marketcap of today. He basicly invested a portion of his wealth to create a huge ponzi scheme... haha. Well jk. But anyway. I think thats a better way to look at it then a guy who ordered a pizza of half a billion.

No, thats not how it is. Cause if no one would v spended bitcoin in beginning it would be worthless today.

[haroldtee]

I don't think if such person thinks about himself as hero because he didn't know that Bitcoin is going to be worth so much money in the future. It wouldn't be nice to talk to him and ask how does he feel about it. Would he be mad because he could have a fortune now? Or would he turn it into a joke? Also I think that he wasn't the only person who spent Bitcoin somehow.

Like you said, he wasn't actually the only person who did... So many people did of course. However, the transactions and all the activities they have done in the past is still a great plus cause we may not even be here. Funny enough, he may not really regret it, afterall that does not mean he didn't have more than that back then and since that was the value as at then, nothing he could have done better than people spending presently now. No one knows if what you spend today would amount to millions tomorrow.

[Za1n]

I really don't know why this story keeps coming back up again and again and why people cannot grasp one simple concept. He did not pay millions of dollars for a pizza, he paid roughly $40 or the going rate at the time for two pizzas delivered with tip. He also did not even pay the pizza place, as I recall it was more along the lines of he traded 10,000 BTC to someone who could get a pizza delivered to his house, hot and ready to eat. Someone took him up on the offer, ordered two pizzas from a deliver joint and had them deliver it to the BTC guy's house. After he got the pizzas he kept his end of the bargain and sent the buyer his 10,000 BTC. So at the time the BTC was worth approximately $40/10,000 or roughly 4 tenths of 1 cent each.

At the time you could mine up a bunch more BTC just using your CPU and active trading wasn't even a thing. So yes I agree that actions like this help spread the word about BTC and its eventual rise, but to keep saying he lost or wasted million of dollars is just absurd. Thinking like that you may as well horde every item real or virtual you encounter as it could one day become worth a lot of money. Further, had all the early adopters horded it, it would be worth nothing today as their is not much of a market with just a few dozen people trading virtual tokens back and forth. It gets its value from be distributed to the masses, not by a handful people hording it all.

[AT101ET]

Do we really need another thread about this? Let's leave poor Lazlo alone already. Yes, his Bitcoin Pizza will go down in history as it was one of the most insane Bitcoin transactions of all time (in hindsight). Bitcoin was still in its infancy and Lazlo made an opportunity to use the BTC he'd accumulated. I can only hope that he kept some BTC in a safety net fund and is now laughing at us from some beach in Mexico.

[Yakamoto]

...guy is a hero in Bitcoin really. Because when bitcoin wouldnt be spend in the early days we all now wouldnt be here... Early spenders made it possible for bitcoin to develop. So to say he spend half a billion on a pizza. Well not in that time. What he actually did was to make it possible to boost bitcoin to the price of today.

He sacrificed, as other early spenders, money to give others money basicly. Because only now its a store of value because of these early spendings. He was one of the founders of the total marketcap of today. He basicly invested a portion of his wealth to create a huge ponzi scheme... haha. Well jk. But anyway. I think thats a better way to look at it then a guy who ordered a pizza of half a billion.

No, thats not how it is. Cause if no one would v spended bitcoin in beginning it would be worthless today.

That's the way anything grows, through usage. If no-one uses for anything meaningful it then there would simply be no reasons to use it for anything at all. It didn't have to be the Bitcoin Pizza case but it definitely had a considerable impact on the practical use of Bitcoin. Anything would have worked, but the Pizza incident definitely allows for a lot of reflection on the early days of Bitcoin and everything that was happening. It's a shame I can't buy a pizza from the same place due to my geographical location.

[Bonanzacoin]

^^

OP:

He sacrificed, as other early spenders, money to give others money  

[hatshepsut93]

The guy who bought 10,000 BTC pizza or any other person who sold Bitcoin early didn't actually lose any money, the lost opportunity to get more money which is a very different thing. In fact, every person on Earth is losing million dollars worth of opportunities each year by not investing in something that will skyrocket in value in the future - simply because no one knows the future for sure. For example, BTC increased 4-5 times since the beggining of this year, so anyone who didn't buy and hodl it has lost an opportunity to increase their value 4-5 times. So, it's really wrong to feel bad for losing opportunities, because they are all tied to risks, and fore every multi-million dollar pizza there are thousands of bad investments that result in a real losses for investors.

[jseverson]

I really don't know why this story keeps coming back up again and again and why people cannot grasp one simple concept. He did not pay millions of dollars for a pizza, he paid roughly $40 or the going rate at the time for two pizzas delivered with tip. He also did not even pay the pizza place, as I recall it was more along the lines of he traded 10,000 BTC to someone who could get a pizza delivered to his house, hot and ready to eat. Someone took him up on the offer, ordered two pizzas from a deliver joint and had them deliver it to the BTC guy's house. After he got the pizzas he kept his end of the bargain and sent the buyer his 10,000 BTC. So at the time the BTC was worth approximately $40/10,000 or roughly 4 tenths of 1 cent each.

At the time you could mine up a bunch more BTC just using your CPU and active trading wasn't even a thing. So yes I agree that actions like this help spread the word about BTC and its eventual rise, but to keep saying he lost or wasted million of dollars is just absurd. Thinking like that you may as well horde every item real or virtual you encounter as it could one day become worth a lot of money. Further, had all the early adopters horded it, it would be worth nothing today as their is not much of a market with just a few dozen people trading virtual tokens back and forth. It gets its value from be distributed to the masses, not by a handful people hording it all.k

Lmao this is so true. The guy simply used Bitcoins the way it was meant to be used, which is as a digital currency. He did not lose anything, strictly speaking, as he got what it was worth at the time, which was two pizzas.

I guess the reason why this keeps popping up, is because of the opportunity cost, which is the cost incurred by not enjoying the benefit that would have been had by taking an alternative choice. That just about amounts to around $40,000. I know that everyone dreams of being rich and having the financial freedom to really enjoy themselves, but it's pretty ridiculous. At the time, there was no way anyone could have predicted that Bitcoin would boom the way it did. That's why it became revolutionary after all.

[Herbert2020]

you know what, the person who did that really understood what bitcoin is: a currency.
others who are surprised by such spending do not understand what bitcoin is, they consider bitcoin to be an investment that should make them rich. you are the killers of bitcoin if you think that.
of course we all know bitcoin is rising and we all take the profit but if everyone sees bitcoin as just an investment to make profit i believe there won't be any profit anymore. bitcoin is rising because it is a currency not because it was an investment.

[AwpDragonPoor]

Yea he didn't see the potential. I think it's pretty funny and ironic that one would use $5000 coins for pizza. and 10000 of them as well. but whats done is done, no use crying over split milk.

[Bonanzacoin]

they consider bitcoin to be an investment that should make them rich. you are the killers of bitcoin if you think that.

This is definitly not true at this moment. Thats why i say the early spenders are the hero's. Those who hold now create the foundation for altcoins to florish. And making btc a digital gold. So id say we are hero's as well. After all, we take the risk that it can all go down. We believe it wont, but the a majority does. OR... lets put it this way. There are those who dont believe in it (a Dimon, who represents a lot of influence) and those who do. In between there is the mass. Who will win? Thats still not sure...

[Bonanzacoin]

Yea he didn't see the potential. I think it's pretty funny and ironic that one would use $5000 coins for pizza. and 10000 of them as well. but whats done is done, no use crying over split milk.

thats my whole point. If those early spenders werent there... it would have never came this far... whether he knew it would be worth that much or not. That doesnt matter. He was one of the few that made it happen.

[allthebitandbobs]

i guessing the guy jump off a bridge are something a few year later are is committed  .No way is he alive are sane at this stage

[Cranidos]

...guy is a hero in Bitcoin really. Because when bitcoin wouldnt be spend in the early days we all now wouldnt be here... Early spenders made it possible for bitcoin to develop. So to say he spend half a billion on a pizza. Well not in that time. What he actually did was to make it possible to boost bitcoin to the price of today.

He sacrificed, as other early spenders, money to give others money basicly. Because only now its a store of value because of these early spendings. He was one of the founders of the total marketcap of today. He basicly invested a portion of his wealth to create a huge ponzi scheme... haha. Well jk. But anyway. I think thats a better way to look at it then a guy who ordered a pizza of half a billion.

No, thats not how it is. Cause if no one would v spended bitcoin in beginning it would be worthless today.

Yes he is. But I think more likely he did it out of fun and experimentation. And he didn't know that 10k btc will become billions today so he didn't actually lose billions out of 2boxes of pizza. What I'm wondering now is how many btc does that pizza guy have right now and how much profit he got from it as of this year. And what happened to the other guy who received 10k btc from him? Maybe they're in touch with each other and became pals playing golf, drinking wine somewhere in this planet, lol! What a story to tell to their children and grandchildren in the future. Yeah, this is me daydreaming after reading a novel. 

[szpalata]

Yea he didn't see the potential. I think it's pretty funny and ironic that one would use $5000 coins for pizza. and 10000 of them as well. but whats done is done, no use crying over split milk.

thats my whole point. If those early spenders werent there... it would have never came this far... whether he knew it would be worth that much or not. That doesnt matter. He was one of the few that made it happen.

Exactly, their experience and the contribution add up to the current craze and interest in bitcoin. At least he got pizzas for them, what about those that lost their private keys or their harddrives forever? They list them without even a slice of pizza.

[xBitHodler]

10 000 BTC for a pizza? This guy must have felt content when he paid for it with BTC which he has mined. He wasn't able to predict Bitcoin's future price. Early spenders probably blame themselves but for us it was very important. Maybe they encouraged other people to buy BTC from them?

[BrewMaster]

Yea he didn't see the potential. I think it's pretty funny and ironic that one would use $5000 coins for pizza. and 10000 of them as well. but whats done is done, no use crying over split milk.

the "potential" was the fact that he took a decentralized digital token (practically some numbers on the computer back then) and used it as a currency for the first time in the history.

and obviously he did not posses the magic ball you have to tell him about the future. and who said 10,000 bitcoin was all the bitcoin he ever owned? have you ever thought he may have 1,000,000 coins right now!

[viktorbesov]

i guessing the guy jump off a bridge are something a few year later are is committed  .No way is he alive are sane at this stage

lol Heroes dont do like that

I think he was a little sad as he find out Bitcoin BTC price a few years later..
But he realy cant imagine the future where some "NUMBERS" on computer have so big value for all people. It was first steps of cryptocurrencies in general and it cant be without things like that.

[Prince8]

he didnt sacrifice anything..

he could have spent 10k btc on the btc and bought 10k btc again in the next minute

doesnt make any difference..

life goes on

[MelisaMoris]

I agree that actions like this help spread the word about BTC and its eventual rise, but to keep saying he lost or wasted million of dollars is just absurd