Celebrate Bitcoin Pizza day (Bitcoin Purchase Power)
Happy the Bitcoin Pizza Day! Wondering what on earth that is?
Bitcoin is a decentralized digital currency (Distributed Ledger) that operates on a peer-to-peer network. Bitcoin allows users to transact directly, without the need for an intermediary like a bank or government. It is a form of cryptocurrency, which means it is secured by cryptography and can be used as a medium of exchange.
On the 22nd May 2010, Laszlo Hanyecz famously became the first to exchange Bitcoin for physical goods by purchasing two large pizzas with 10,000 Bitcoins! It may sound crazy now, but back then, 10,000 Bitcoins were only worth around $41. Fast forward to today and BTC is known all around the world, not just by the crypto savvy!
Consider a average pizza $12 USD as of today, with 27K USD (one bitcoin), you can buy 2250 Pizzas! So, 13 years ago, 10K bitcoins for two pizzas, that is 5K bitcoins for a pizza, roughly each bitcoin buys 1/5000 pizza. In thise 13 years, the purchase power of bitcoin is increased from 1/5000 to 2250 so 11,250,000 times! The price was from $41/10K to 27K (6,585,365 times)
[caption id="attachment_153291" align="alignnone" width="640"]
Bitcoin Price on 2023 Bitcoin Pizza Day![/caption]
Bitcoin gives Freedom! Bitcoins are cryptocurrency gold - free from censorship. It is decentralized and the consensus algorithm is Proof of Power/Work! It is anonyomous and transparent. The transactions are immutable and can't be reversed or blocked. Bitcoin is the first and by far the most successful DApp (Distributed Application). It is often referred to the Gold of Cryptocurrency.
I told my sons this story, and have asked them "What have you learned from this story?" - The younger son said "Everybody (should) love Pizzas!"
Not a Financial advice in anyway.
Steem to the Moon🚀!
- You can swap the STEEM/SBD to USDT (TRC-20) via Steem2USDT!
- Register a free STEEM account at SteemYY!
Blog: Celebrate Bitcoin Pizza day (Bitcoin Purchase Power)
--EOF (The Ultimate Computing & Technology Blog) --
!ask what is a bitcoin?
Bitcoin is a decentralized digital currency that operates on a peer-to-peer network. Bitcoin allows users to transact directly, without the need for an intermediary like a bank or government. It is a form of cryptocurrency, which means it is secured by cryptography and can be used as a medium of exchange.
command: !ask is powered by witness @justyy and his contributions are: https://steemyy.com
More commands are coming!. !ask is currently based on ChatGPT-3.5
!thumbup
Hello @justyy! You are Fabulous!
command: !thumbup is powered by witness @justyy and his contributions are: https://steemyy.com
More commands are coming!