May 22, · Today, Bitcoiners all over the world are eating pizza—in offices, on couches, at their apartments and their houses. They’re not doing this because pizza . Dec 07, · When I saw the price of bitcoin fall to $9,, I pressed buy, defying the wisdom of two finance titans and my wife. One hundred dollars, or bitcoins. (A . May 21, · Laszlo Hanyecz was that man – known as the “Bitcoin pizza guy” – who bought two Papa John’s pizzas for a whopping 10, BTC. Back in .
Pizza buy bitcoinMy First Bitcoin Pizza
If you owned a share of an experimental technology, how much of it would you give up to help that technology grow? Startup founders do this calculus whenever they raise capital. Ten years ago today, a developer named Laszlo Hanyecz did it with bitcoin. Hanyecz is known as the first person to use bitcoin in a commercial transaction. On May 22, , when bitcoin was a little over a year old, he bought two pizzas for 10, BTC.
The joke is also a parable, illustrating the competition and interplay between three potential uses of bitcoin. The first is speculation. Even U. Or would we? Hanyecz works for apparel brand GORUCK as a developer and, partly because he is internet-famous, the e-commerce company is one of a handful that accepts bitcoin.
The dollar cost averaging people talk about, it works really well. Bitcoin as digital gold, or a store of value to accumulate and hold for the long term, has proven more attractive than commerce, as a pair of recent events underscore. Times have changed drastically. In fact, there is now a crypto project for ordering pizza. You also know that I think bitcoin is going to move a lot higher — and other smaller altcoins will do even better.
Institutions and wealth investors are leading the way, which is different than during the first 10 years of its existence when it was more individuals. Cryptos are still not well understood in part because they sound like fantasy internet money. Instead, think of bitcoin and altcoins as revolutionary new software programs that will unleash tsunamis of productivity … and profits.
Cryptos and the blockchain technology they are built on are going to change everything. The way you buy everyday goods and services … purchase a home … pay your taxes … even how you order a pizza.
We think it will be the biggest thing since the mass adoption of the internet. Transformational platforms bring about a wholesale change … like when a caterpillar becomes a butterfly … or when a child becomes a teenager. The harnessing of electric power in the early s transformed the world.
It gave birth to our use of light bulbs, refrigerators, radios, televisions, telephones, air conditioners … the list goes on. The world after we harnessed electricity looked totally different than the one before it. These revolutions are rare. We saw probably just a handful in the 20th century — electric power, the internet, even smartphones. It is being used in more and more places all the time, and this massive disruption creates a once-in-a-lifetime financial opportunity for anyone who acts today.