Erik Weijers, 10 months ago
Did you celebrate Bitcoin Pizza Day? May 22, 2022 marked the twelfth anniversary of this memorable day. Bitcoiners remember that Laszlo Hanyecz bought two pizzas for ten thousand Bitcoin. As far as we know, it is the first purchase with Bitcoin.
While it's not entirely out of the question that people had paid for stuff with Bitcoin before, that May Day in 2010 takes the credit. 10 k bitcoin was worth $41 at the time. For that amount, visionary Laszlo got two sturdypizzas. He announced his wish on Bitcoin Talk: "I'll pay 10,000 bitcoins for a couple of pizzas... like maybe 2 large ones so I have some left over for the next day."
It's hard to imagine but until February 2010 there were no places to buy Bitcoin: running a bitcoin client was the only option if you wanted to do transactions. It wasn't until February of that year that crypto exchange Mt. Gox went live.
The fact that Laszlo's ten thousand bitcoin would now be worth about 300 million is, of course, hard to ignore. So we hope he didn't spend all of his 2010 bitcoin on food. Meanwhile, it's good to realize that Bitcoin could never have become worth much without people like him. The value of a monetary network is correlated with the number of payments that occur in it.
Incidentally, Laszlo remained an early adopter. In 2018, when Lightning was still in its experimental phase, he paid for two pizzas with Lightning.
Mar 21, 2023
It's nice for every BTC hodler to see the price go up. But for Bitcoin miners the recent pump - in fact, one of the best weeks in Bitcoin's history - is more than just fun: it's existential. Bear market prices and high electricity costs have hurt them hard in the past 12 months. Finally, the tides seem to be turning.
Mar 20, 2023
Balaji Srinivasan, the former CTO of Coinbase and author of The Network State, has made a bet of 1 BTC and $1 million on whether the US will experience hyperinflation. Only if BTC will reach $1 million by June 17, Balaji will win this outrageous bet. What has he been smoking?
Mar 14, 2023
After a tumultuous weekend, in which the American government had to prevent a bank run on regional banks, markets have had some time to digest the developments, including some new economic data. What to expect - and why the recent pump?
Mar 13, 2023
Bitcoin was born as an idea in 2008 when its whitepaper got published. Only a few months later, on January 3rd, 2009 the so-called Genesis block was mined and the Bitcoin network started working. Only 14 years later the United States and the world are facing a very similar situation to the one we saw between 2007 and 2009. Some banks acted irresponsibly and without a bailout, there might be a contagion effect that kicks in. Many people believed that bailouts are out of the question after the failure of Lehman Brothers.
Sign up to stay informed via our email updates