🍕Pizza Come and get your Pizza!
Laszlo Hanyecz the orginal person who completed the first bitcoin transaction (at least that we know of) by ordering two pizzas in 2010 for 10,000 BTC has done it yet again!
However this time he did it on the lightning network. Sending out what I feel is a very powerful message to the world at how much lightning network is going to change bitcoin and the world.
In London the 25th for Feb. 2018 Hanyecz posted on the lightning network a contract for the two pizza order. This demonstrated just how quick and powerful this new network is and will become as more companies begin to use it.
On May 22, 2010 the orignal transaction took place which 10,000 BTC would be worth around $97.5 MILLION Dollars!
Today however Feb 25th 2018 he paid just 649,000 satoshi or about $62.
In just a little under 8 years we have gone from what the world didn't even know about a hobby coin to a digital currency that is worth now over $9,000 each. When I say that is just scratching the surface it really is. If bitcoin reaches its 1 trillion dollar market cap that would hold one bitcoin at $50,000 each! To put that into prospective Gold is a $7.5 Trillion Dollar market cap and the stock market is $18.5 Trillion!
MMMM Pizza I think I will be getting myself two today as well!
62$!!! Does that mean the transaction cost was still high or the place expensive?
Must have been an expensive pizza place lol cuz transactions on lightning are next to nothing. Even the main bitcoin block chain is about $3 per transaction.
He probably wanted to give a very nice tip. He tend to give nice tips as we saw with the original pizza purchase. I wonder if those original pizza guys kept the Bitcoins. Would be very sad if they didn't! Clearly Bitcoin will go to the moon. I want a crypto pizza but not sure what kind of toppings it would need to have to be a crypto pizza!
lol, I would have loved a 97 million dollar tip myself Im curious the person that got the 10,000 BTC what they did with it after
If I know pizza guys correct they probably forgot about it and kept making more pizza! What a thing to find 10,000 Bitcoin again...
Wow! Where did you find this information? The MSM should report this new milestone. We'll see if they do now that we are in the middle of a price winter. Reestemed!
This is awesome! I am glad he is still happy to buy pizza with BTC. I like looking at the 1 trillion market cap perspective. Not too far away it would seem.
Now to sit back and watch that $62 become 97 MM again :)
I believe we need to improve the day to day transactions. Lightning Network can be the way for that... I am excited!
I heard about this story and wondered if it was true. I guess if this same guy did it again today, that must be a real person and validates the story. Cool!
Paying that much for pizza is water under the bridge at this point, but I wonder if people that used their BTC back then kick themselves.
Either way, a fun story. Thanks for sharing, cheers.
I kick myself over smaller things like when bitcoin was $300- $800 and is not $9,000! lol Perhaps in 8 years bitcoin will explode just as much!
Thanks for posting this. Personally, I have been baffled by Bitcoin's success over the years. While I have come to appreciate blockchain and cutting out the big banks, I do have some concerns about bitcoin specifically. (And full disclosure, I own a tiny amount of bitcoin and am all about blockchain and cryptos.)
And again, before I go further, trust me I have been there since 2010 and have watched this entire thing explode.
BUT... I struggle with the identity of Satoshi not being revealed (to me it deflects some accountability.)
I struggle with speculation in the crypto markets (essentially people with REAL dollars who seemed to convert to bitcoin and speculated the hell out of it.)
I struggle with bitcoin being seen as a financial investment rather than an active currency.
I struggle with understanding how the banks will play a role in all of this without purposely crashing bitcoin (very possible and make no mistake the banks will insist on getting in on this.)
And lastly I struggle with crypto not being attached to any real commodity in the real world (like to gold, but then again I also struggle with the idea of the petro-dollar actually being based on consumer 'sentiment' which is a racket in and of itself.)
So there you go. With that in mind I of course have opted to come to this platform and participate because I do feel crypto is the future. Steemit is the future. Blockchain is the future. And all for all the good reasons.
Not meaning to criticize at all, just exploring this topic as I don't know ANYBODY in my personal day- to- day life that understands any of this (no that I do necessarily) so there are limitations for me I totally understand. Thanks for posting and championing cyrpto; it IS the future.
When they thought they found out who Satoshi Nakamoto was... agents had broken into and ransacked his house within three hours. He is smart to be anonymous otherwise he would likely be dead, tortured, robbed, jailed or a combination of those things.
I don't wanna blast off on this awesome post and thread, and get all weird up in here, and all but I guess the other side of the spectrum is he actually a "she" or (more where I am at) a "they." Totally within the realm of possibility it was actually a consortium of players who contributed to the project. I personally choose to believe it was either:
an experiment that went nuts somehow (not likely)
an off- grid hacker group that intentionally did this to bring the fiat currency to its knees (my personal favorite)
possibly a bad intentioned hacker/ coder group motivated solely for profit (not likely as those folks' egos usually get at least one caught, especially with so much bitcoin Satoshi allegedly holds)
or this was all pre-arranged by a central government operator a la fsb or any other three letter outfit (my front runner.)
Either way we are in the mix and figuring out our own ways to move forward as things evolve and there is no doubt bitcoin changed everything. It's a good time to be alive!
For me it's only good we have no human behind Satoshi! But if you dig into YouTube then you could get hints at who the real guy is and he seems really smart. Humans are not reliable.
They have perverse incentives and corrupt things. No human = no problem. In math we trust! Clearly we have seen for hundreds of years now how bad it has been letting humans getting their slimy hands on the ability to print limitless money. Now we have a limited supply of Bitcoins and that keeps the value up! But the magic is more the Blockchain that will take over peoples life more and more.
Actually the Blockchain will ideally make us into better humans by removing the perverse incentives that humans have. Humans manipulate things for us. We do not want this. We need more transparency! Not sure why crypto would have to be attached to a offline commodity. Clearly the fiat money as of this date is not attached to anything either but still gets printed daily in the banks system where they just create more!
Heck yes! When I noticed how easy it is to just talk trash online and then delete a post or whatever I finally understood why blockchain matters: it protects the truth, or at least provides a very clear path to uncover the frauds. I'm 100% on board with crypto for all the same reasons. Same page.
Fiat currencies suck. Time tested and not user approved haha!
There is a limit to bitcoin for sure, which keeps up the value. BUT, bitcoin are unevenly distributed through the network, and bitcoin is still stolen so that part sucks. I appreciate what bitcoin has done to disrupt the economy and for taking us to a new and hopefully better place.
I've tried digging in the Satoshi thing, but honestly that rabbit hole isn't too attractive to me anymore. I continue to struggle with a currency that offers transparency, but its founder does not. Oh and Satoshi holds a TON of bitcoin last time I heard. I prefer the tactic of the genius kid from Etherium who is minimally invested in that crypto from what I last heard. I could be wrong though.
And all AI has a human master(s) behind it. I understand AI is meant to transcend us simple humans, but its god is a human still. What scares me the most about AI is that it is so efficient, so damn intelligent, that ultimately it will realize the problems of this planet and barriers to AI growing, is us humans. Crazy times but I love it anyways.
Thanks a ton for your time and thoughts. Much love!
Yes as you said AI scares me too because it's so smart I have a hard time see a human be able to control that. For example you can connect two people online. Take 2 real accounts, create 2 fake accounts that looks exactly like the original. Then you could write a bot that use the 2 humans and let them talk to eachother but the bot connected them. It's using the 2 fake accounts to connect all the 4 accounts in a circle. And the bot can see all the message and use humans for mining new intelligence.
Ideally now the bot can connect any humans it wants and make them talk to eachother. Potentially it can connect millions of humans and mine all their data and store it. Yes currently this only works in digital world but when we start to create more robots it will be very hard to detect a robot from a so called human. The AI will learn so much from all this data mining that it will know all about us humans extremely fast. We are already starting to see people use bots now more and more for money even on Steem. So it's already starting to happen.
As of right now we humans are limited in the amount of data we could take in per day but if we could solve this then we could see some amazing growth and progress. Clearly it's not something that could be stopped since everyone is so empowered now so whatever happens happens.
Another thing with us humans is yes we can hold alot of money but usually we have no clue what to do with it since we are so slow and primal in our thoughts. So most of what we think of is extremely petty and low level thinking. In this new economy I would say that connecting with other intelligent humans is power even more than money. I see money to be pretty pointless in the future since experiences will be so cheap. Especially when Virtual Reality truly goes mainstream.
Now it's all about who understands computers the best and can use the most speed and optimize their time and attention which is now the real currency. Since it's very rare. Money is starting to be very common these days. Especially when people can make 100X returns. And it will only keep on getting more wild in the future since we are moving up towards a 10 billion world population!
Two pizzas for $62? He must have ordered all the toppings...
maybe even doubled up!
The reason for the $62 is because of the GBP to USD conversion I swear our pizzas aren’t that expensive :’(
50K bitcoin , i really hope we see that by the end of this year or the next