Don't trade your Bitcoin like Laszlo Hanyecz

[decodx]

Lazslo wrote the following soon after:

This is an open offer by the way.. I will trade 10,000 BTC for 2 of these pizzas any time as long as I have the funds (I usually have plenty).  If anyone is interested please let me know.

You think the offer is still valid? I'll even throw in extra cheese and stuffed crust.

No, the offer is no longer valid (you should have read the thread further, btw). Shortly after this successful trade, the price of bitcoin spiked sharply, so Laszlo wrote this:

Well I didn't expect this to be so popular but I can't really afford to keep doing it since I can't generate thousands of coins a day anymore Smiley  Thanks to everyone who bought me pizza already but I'm kind of holding off on doing any more of these for now.

[Ale88]

He definitely could and had been buying pizza with fiat all the time. Laszlo offered to buy pizzas for Bitcoin because it had never been done before.

Are you sure? How did Laszlo Hanyecz know that no one had done this before? How can we know that Laszlo Hanyecz was the first to exchange bitcoin for real goods? Yes, perhaps he was the first to make a public offer, but there could have been thousands of private deals before Laszlo in which bitcoin was broadly involved. Although bitcoin didn't yet have an "official" price set by the market, it still could have been used in the barter economy among those who understood bitcoin should have some value because of its peculiarities. Perhaps, people, who really believed in bitcoin when it had no market price, didn't want to announce they were participating in the bitcoin economy because they valued their privacy, which is why we have never heard of them. But we definitely have heard of Laszlo who has a public profile and is registered under his real name. If Satoshi Nakamoto, a mysterious creator of Bitcoin, has said he just exchanged his bitcoin for pizza, would you believe him? I doubt it since there is no way to verify that. But in the case of Laszlo, it is a lot easier to verify he had bought something because everything about him is public information.

Sometimes it doesn't matter who is actually the first but who gets the more exposure. It's very likely that someone else bought something physical before Laszlo, but he started a thread on this forum making his offer open to anyone, that's the difference. And let's not forget that this pizza exchange became famous after a while especially because of the value off the 10k bitcoins.

[DapanasFruit]

Laszlo Hanyecz very much made into the Bitcoin history book as one of the first to prove that BTC can be used like an ordinary money. Now, had I been in his place i would not just buy pizza but also some coffee and maybe eve donuts with my BTC mined. We have many things to thank this man for taking the risks and for finding that pizza patrol for the transaction. And that is why we have an annual Bitcoin Pizza Day to honor the event, honor the man and honor Bitcoin. I am wondering what kind of pizzas were bought back then...

[ilovealtcoins]

What he did was mark a turning point in bitcoin's history, I really can't understand what you're thinking to be able to say these words. Nowadays the value of bitcoins has increased so much that most people will choose to hold rather than use them but you should remember the ultimate goal of holding is still to use bitcoins only when you use them will bitcoins really be of value to you.

[romero121]

Laszlo Hanyecz very much made into the Bitcoin history book as one of the first to prove that BTC can be used like an ordinary money. Now, had I been in his place i would not just buy pizza but also some coffee and maybe eve donuts with my BTC mined. We have many things to thank this man for taking the risks and for finding that pizza patrol for the transaction. And that is why we have an annual Bitcoin Pizza Day to honor the event, honor the man and honor Bitcoin. I am wondering what kind of pizzas were bought back then...

In the history of bitcoin we don't know the identity of Satoshi. Atleast we've seen the person who have given value to the marvelous innovation. He mentioned it was two large pizzas. I would like to remind people not to donate anyone requesting in the name of Laszlo Hanyecz. Came across a Twitter account requesting donation.

[lienfaye]

I hate people spending their bitcoin sort of being 'demonized', as there's definitely nothing wrong with what the dude did. He publicly showed that bitcoin can actually be used as a currency. Big achievement, if anything.

Indeed. He just show that Bitcoin can be use as currency and besides that is the purpose why Bitcoin is created, to be an alternative to fiat and that time it works as intented.

Who would have thought the value of Bitcoin will skyrocket. If only we know whats going to happen in the future, probably we all buy Bitcoin during the early days and be a millionaire now. Buying pizzas for 10k Bitcoin is now a history that we'll never forget.

[rodskee]

Laszlo Hanyecz very much made into the Bitcoin history book as one of the first to prove that BTC can be used like an ordinary money. Now, had I been in his place i would not just buy pizza but also some coffee and maybe eve donuts with my BTC mined. We have many things to thank this man for taking the risks and for finding that pizza patrol for the transaction. And that is why we have an annual Bitcoin Pizza Day to honor the event, honor the man and honor Bitcoin. I am wondering what kind of pizzas were bought back then...

In the history of bitcoin we don't know the identity of Satoshi. Atleast we've seen the person who have given value to the marvelous innovation. He mentioned it was two large pizzas. I would like to remind people not to donate anyone requesting in the name of Laszlo Hanyecz. Came across a Twitter account requesting donation.

None of us will fall from that trap because we already Knew how scammers move nowadays and we will never let our precious coins be on their hands.

and also if this is truly Laszlo then he should use the Old address he used back then when he bought that pizza for 10 thousand bitcoin  that i doubt he can provide because it is not Him.

[nullama]

Laszlo doesn't use twitter, reddit or any other social media. Any message coming from that is 100% a scam.

Here's what he said about this:

I don't do social media, the people pretending to be me on twitter/reddit/etc begging for donations are scammers.  -Laszlo

HCEMyDqAXNBcpPbgQjYsm1V+HReQBWfBvNWr14iNBQj0b2u4mkgBl4S00gv1hXZUZQRaICKBRIxaxeeUNHQx94Y=

1XPTgDRhN8RFnzniWCddobD9iKZatrvH4

This is also a good opportunity for newbies to learn about how to verify a signature to prove someone is who he is claiming to be. In the previous message there's a Bitcoin address associated with laszlo, a message, and a signature. Anyone can verify that message with that signature, and see if it's valid. That means that the person writing that message has control of that Bitcoin address.

So, in this case, you have the address of the 10k BTC pizza transaction in the message, and you can check that the transaction actually occurred in the blockchain at that time:
https://www.blockchain.com/btc/tx/a1075db55d416d3ca199f55b6084e2115b9345e16c5cf302fc80e9d5fbf5d48d

Then you can use the following details to verify the message with any wallet/tool. For example, with Electrum, you can go to Tools->Sign/Verify Message and then input the following:

message: I don't do social media, the people pretending to be me on twitter/reddit/etc begging for donations are scammers.  -Laszlo
signature: HCEMyDqAXNBcpPbgQjYsm1V+HReQBWfBvNWr14iNBQj0b2u4mkgBl4S00gv1hXZUZQRaICKBRIxaxeeUNHQx94Y=
address: 1XPTgDRhN8RFnzniWCddobD9iKZatrvH4

If you click Verify, you'll see if the signature is valid or not.

That way you can 100% know that the person who wrote that message has control of that address.

[Ale88]

Laszlo Hanyecz very much made into the Bitcoin history book as one of the first to prove that BTC can be used like an ordinary money. Now, had I been in his place i would not just buy pizza but also some coffee and maybe eve donuts with my BTC mined. We have many things to thank this man for taking the risks and for finding that pizza patrol for the transaction. And that is why we have an annual Bitcoin Pizza Day to honor the event, honor the man and honor Bitcoin. I am wondering what kind of pizzas were bought back then...

In the history of bitcoin we don't know the identity of Satoshi. Atleast we've seen the person who have given value to the marvelous innovation. He mentioned it was two large pizzas. I would like to remind people not to donate anyone requesting in the name of Laszlo Hanyecz. Came across a Twitter account requesting donation.

People really have no dignity... I hope no one is gonna fall into this scam, especially because if you know who Laszlo is it should mean that you know at least a little about bitcoin, so you should be used to this type of scams. So tired of these cockroaches...

[Silberman]

I hate people spending their bitcoin sort of being 'demonized', as there's definitely nothing wrong with what the dude did. He publicly showed that bitcoin can actually be used as a currency. Big achievement, if anything.

Agreed, bitcoin is a currency, and while we know that it is an incredible investment and that it has still huge potential to go up in value during the long term, and this is why many people do not want to spend even a satoshi, the truth is that there is nothing wrong with spending some of your bitcoin in order to get something that you want, also if my memory does not fails me that was the fist time bitcoin was used in a  a commercial transaction so it was and it is still is part of the history of this market.

[Jemzx00]

I hate people spending their bitcoin sort of being 'demonized', as there's definitely nothing wrong with what the dude did. He publicly showed that bitcoin can actually be used as a currency. Big achievement, if anything.

Agreed, bitcoin is a currency, and while we know that it is an incredible investment and that it has still huge potential to go up in value during the long term, and this is why many people do not want to spend even a satoshi, the truth is that there is nothing wrong with spending some of your bitcoin in order to get something that you want, also if my memory does not fails me that was the fist time bitcoin was used in a  a commercial transaction so it was and it is still is part of the history of this market.

Laszlo Hanyecz experiment at that time to used bitcoin as a way to pay some pizza is one of the first transaction where bitcoin shows value. There's nothing wrong spending your Bitcoin to pay for something if it allows you to. I mean, that's the whole point what we are trying to achieve, right? Where Bitcoin can be widely used or even be considered as one of the main currency worldwide.
If logic dictates what the OP's imposing, we should not trade our 100,000 dollars worth of bitcoin for a Lamborghini or even a house. We should just invest, invest and invest. Whether the price is high or not, if we want to use it for payment on some transaction, then why not?
We should rather enjoy what we've bought and enjoy what we have right now because of bitcoin rather than regretting the value that we then have used it.

[milewilda]

Laszlo Hanyecz very much made into the Bitcoin history book as one of the first to prove that BTC can be used like an ordinary money. Now, had I been in his place i would not just buy pizza but also some coffee and maybe eve donuts with my BTC mined. We have many things to thank this man for taking the risks and for finding that pizza patrol for the transaction. And that is why we have an annual Bitcoin Pizza Day to honor the event, honor the man and honor Bitcoin. I am wondering what kind of pizzas were bought back then...

In the history of bitcoin we don't know the identity of Satoshi. Atleast we've seen the person who have given value to the marvelous innovation. He mentioned it was two large pizzas. I would like to remind people not to donate anyone requesting in the name of Laszlo Hanyecz. Came across a Twitter account requesting donation.

We aren't that dumb to fall for this begging scam attempt which is clearly that he's not Laszlo even though he had make use of that 10k coins but for sure he was proud off considering that this was a historical event that happened into this crypto space which it had been recognized by this community and for sure that is something that he would be proud of but it can't really be denied in speaking into those coins if ever he do able to hold it up until now which hey made out himself to be financially free.

[KennyR]

Laszlo Hanyecz very much made into the Bitcoin history book as one of the first to prove that BTC can be used like an ordinary money. Now, had I been in his place i would not just buy pizza but also some coffee and maybe eve donuts with my BTC mined. We have many things to thank this man for taking the risks and for finding that pizza patrol for the transaction. And that is why we have an annual Bitcoin Pizza Day to honor the event, honor the man and honor Bitcoin. I am wondering what kind of pizzas were bought back then...

In the history of bitcoin we don't know the identity of Satoshi. Atleast we've seen the person who have given value to the marvelous innovation. He mentioned it was two large pizzas. I would like to remind people not to donate anyone requesting in the name of Laszlo Hanyecz. Came across a Twitter account requesting donation.

We aren't that dumb to fall for this begging scam attempt which is clearly that he's not Laszlo even though he had make use of that 10k coins but for sure he was proud off considering that this was a historical event that happened into this crypto space which it had been recognized by this community and for sure that is something that he would be proud of but it can't really be denied in speaking into those coins if ever he do able to hold it up until now which hey made out himself to be financially free.

The guy himself is proud of spending the big number of buying pizza. That itself a big message and he had made history. Rather than financially free, he might've turned it to more other millions through investment on different firms. Anyhow what he have done will surely repay him in some means. For now he have got fame and he doesn't look like financially good. Possibly something will make him financial free.

[nurilham]

Well, today is the main celebration of the Bitcoin Pizza day. May 22 marks the 12th anniversary of Bitcoin Pizza Day, a day when the cryptocurrency was used in a real-world transaction for the first time.

Main celebration? If I can use Bitcoin to pay for any Pizza in my country, I will celebrate it every day. Sadly, we still cannot use BTC for buying Pizza here since Using BTC as a payment tool is forbidden. However, I am optimistic someday BTC can be used as a payment tool here and I can celebrate BTC pizza every day.

A big lesson
Do you know your Bitcoin asset can worth more than you could ever image in time? Hodl and buy more since price is down and await the future to decide.

In Laszlo case, he tried to ensure people that BTC can be used as a payment tool as well, not only as an investment tool. This person has a big contribution to making people become more optimistic about the possibility of using BTC as a payment tool. What he did, is the first real step to realizing BTC having varied purposes and has more value. "Laszlo pioneered BTC adoption for payment purposes".

Hold is the way for BTC holders, but Laszlo did what BTC hero should do. If you think as a holder, you must hold it till achieving your target (Profits). But BTC Hero didn't think like that, he did something that make a big influence for BTC future.

[AnotherAlt]

I hate people spending their bitcoin sort of being 'demonized', as there's definitely nothing wrong with what the dude did. He publicly showed that bitcoin can actually be used as a currency. Big achievement, if anything.

Exactly! Use Bitcoin as a currency, spend it, earn it, save it. Adoption is what can make Bitcoin grow.
Laszlo didn't spend all his Bitcoin on pizza, he had enough left. Bitcoin wouldn't be worth much if only a few guys would have kept all of it for themselves.

I agree with this. If people only buy and hold Bitcoin and don't spend anything. Why would other organizations open a gateway to accept payment with Bitcoin? If everyone just holds their bitcoins and doesn't spend anywhere, that will not help.

Suppose an Organization opened a payment gateway for Bitcoin and anything you can buy from there with Bitcoin. Now, No one is using this payment method because everyone wants to hold it. The organization will be forced to shut down the payment gateway because no one is using it. So, I agree with LoyceMobile. Earn it, Spend it and save it.

[Johnlomape]

Laszlo Hanyecz very much made into the Bitcoin history book as one of the first to prove that BTC can be used like an ordinary money. Now, had I been in his place i would not just buy pizza but also some coffee and maybe eve donuts with my BTC mined. We have many things to thank this man for taking the risks and for finding that pizza patrol for the transaction. And that is why we have an annual Bitcoin Pizza Day to honor the event, honor the man and honor Bitcoin. I am wondering what kind of pizzas were bought back then...

In the history of bitcoin we don't know the identity of Satoshi. Atleast we've seen the person who have given value to the marvelous innovation. He mentioned it was two large pizzas. I would like to remind people not to donate anyone requesting in the name of Laszlo Hanyecz. Came across a Twitter account requesting donation.

This is ridiculous looking at the picture of the name of the man that sold 10,000 Bitcoin for two big Pizza. When he sold his Bitcoin for pizza he would have thought that he is on the right track and so lucky but time was able to prove him wrong. This is of the reasons why we should not take things for granted. We don't know what the price of Bitcoin would be in the next few years coming.
Hold your coin and keep it save, time might gives you a triple value.

[Rikafip]

When he sold his Bitcoin for pizza he would have thought that he is on the right track and so lucky but time was able to prove him wrong.

On the contrary, he proved to be correct and bitcoin is used as a means of payment and you can even live of it and that was the whole point of his bitcoin for pizza transactions.

Hold your coin and keep it save, time might gives you a triple value.

If those early bitcoin adopters thought the same, 99.99% of us woulnd't be here as no one outside of handful of cyprephunks and enthusiasts would never hear about Bitcoin. With that in mind, I would say to hold majority of your coins, but also spend it from time to time.

[AnotherAlt]

If those early bitcoin adopters thought the same, 99.99% of us woulnd't be here as no one outside of handful of cyprephunks and enthusiasts would never hear about Bitcoin. With that in mind, I would say to hold majority of your coins, but also spend it from time to time.

That's what I was talking about earlier. Laszlo Never regrets this. Allow me to quote myself here. Isn't it suit your thoughts?

I agree with this. If people only buy and hold Bitcoin and don't spend anything. Why would other organizations open a gateway to accept payment with Bitcoin? If everyone just holds their bitcoins and doesn't spend anywhere, that will not help.

Suppose an Organization opened a payment gateway for Bitcoin and anything you can buy from there with Bitcoin. Now, No one is using this payment method because everyone wants to hold it. The organization will be forced to shut down the payment gateway because no one is using it. So, I agree with LoyceMobile. Earn it, Spend it and save it.

[famososMuertos]

I must tell you that you are confusing things with reference to that day and specifically with the title of your post.

On the contrary, if you feel like eating a Pizza, buy it, do not go hungry to save some satoshis (current comparison) people should not stop having their usual purchases or those that correspond to their responsibility.

Please don't starve or let your dependents suffer hardship because of your compulsive acts of holding bitcoin.

Laszlo Hanyecz :Gracias/MErci/ Vielen Dank/...all r/ Thank you for making this day exist.

[Silberman]

This is ridiculous looking at the picture of the name of the man that sold 10,000 Bitcoin for two big Pizza. When he sold his Bitcoin for pizza he would have thought that he is on the right track and so lucky but time was able to prove him wrong. This is of the reasons why we should not take things for granted. We don't know what the price of Bitcoin would be in the next few years coming.
Hold your coin and keep it save, time might gives you a triple value.

You are looking at this from the completely wrong perspective since you are not taking the historical perspective at all, while it is true that we need to be careful with our spending, this is something not exclusive to bitcoin so you have a point there, however the reason you have received a negative respond is that you choose the transaction of Laszlo as an example of what not to do, when Laszlo was a pioneer and we celebrate pizza day not as a way to mock him but to remember this transaction that gave a confidence to everyone that this form of money did indeed have potential, if it was not for people like Laszlo then bitcoin would not be anywhere near as valuable as it is now.