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Yay! It’s Bitcoin Pizza Day

Updated: Oct 21, 2022

You know, I love pizza. I mean, it’s one of my favorite things. I know it’s not good for you. I know it’s got cheese and dairy and all the stuff they say is not supposed to be good for you, but I love pizza, maybe you do too. Anyway, today is a very important day in the history of Bitcoin because it’s called Bitcoin pizza day. Now, let me tell you about this Bitcoin started in 2009, on January 3, 2009, is when Satoshi Nakamoto the founder or the whoever he is or what group it is, because they’re gone, disappeared. He or they founded this thing and then basically went away on January 3 2009. And there’s people that were starting to take this on as a currency or as an interesting technology project. And they started to mine it right? They call it mining, it’s basically just creating more Bitcoin up to a limit of 21 million shares or 21 million coins. And so, this little program community, you know, people were sitting there mining it, and you could get like 20 Bitcoin every time you help to mine it. So, like every 10 minutes, you could make another 20 Bitcoin, this is back in 2010. But nobody knew what to do with it. It was supposed to be a currency, but there weren’t enough people using it to trade it. So, this dude, he was a miner, a programmer, his name was Laszlo Hanyecz, and he was an early bitcoin miner. And basically, he was like, “You know what?  I want to I want to figure out a way to spend this stuff that I’ve been mining, because what’s the point of doing all this fun stuff? And creating all these, you know, these tokens, but you know, I get them, but what are they worth?”

So, he looked for somebody to take him up on an offer of 10,000 Bitcoin for two pizzas. And so, he stated, “Hey, does anybody want 10,000 Bitcoin for two pizzas?” And finally, somebody goes,” Yeah, I’ll do it. I’ll take your little 10,000 Bitcoin that aren’t worth anything for two pizzas?” Well, that was back in 2010. Here we are on the 12th anniversary of that day, and those pizzas were consumed. Today, it would be worth $300 million. That’s $300 million. Couple of pizzas, right? So, I always find this interesting, because this is the first known actual transaction that happened with Bitcoin. So, I always find it funny that two pizzas were worth $300 million. Now, it’ll probably end up being worth $3 billion or more, because I think bitcoin is going to keep going up, as long as we keep printing money. But anyway, it’s just interesting that the first transaction was to pizza. 

So, it makes it a great story. Part of the great stories that are taking place in Bitcoin, besides the fact that it’s gone up 562,000% in 12 years, is that its founder is basically nowhere to be found, right? And we don’t know who he is, if it was even a person or group of people, or if they’re still alive or dead, it adds to the mystique of this thing, because it’s really turned into be a benevolent, almost a perfect kind of money. It’s never been hacked, and it’s grown to be worth today is about $30,000 per coin. And it’s actually being adopted not just by companies, and not just by people now. And it’s not just being traded, like I did, when I went to El Salvador, it’s being adopted by countries like El Salvador. 

Now, there are a couple other countries, major cities in Switzerland, and several other countries in Africa are now considering it as well, countries in Central America. So, it’s not just a couple of people in the back room making bitcoins anymore, it’s now become a thing. And you know, there’s going to be a lot of fear, uncertainty and doubt, what we call Fud. And those people are going to be telling you all these bad things that are going to happen: “It’s going to be regulated by the government,” “oh, it’s only being used for drugs, and illicit things.” Well, cash is being used for drugs and illicit things, and always has been, and there’s a lot of other things. But that’s the dumbest thing that you can ever say about Bitcoin is it’s being used for illicit things, because every transaction is public. So, if you’re an idiot, you’ll do transactions in Bitcoins. Some people just stole a bunch of Bitcoin and put it to an exchange and they were caught within six hours by the FBI, because you’re not going to cheat anybody by putting things on a public blockchain. So that’s really stupid, but you’re going to hear all kinds of negative things about it. It uses too much energy and can’t be traded. It’s really slow. But I can tell you I went to El Salvador a couple of months ago, because I wanted to see what it was like on the ground, to be trading Bitcoin and I was able to take my phone, and in two seconds to buy dinner, and in two seconds to buy a beer. And in, this third world, people were way ahead of what we’re thinking.  They were able to just give you a QR code, accept Bitcoin, get paid in it and be happy with it. Now, what they did with the Bitcoin after whether they traded it for dollars, or they traded it to somebody else and bought their own thing. But the fact that they were able to do it on the beach without a connection, you know, plugged into the wall. Without anything other than a phone, were able to accept some kind of payment, to me means that they’re way ahead of the skeptics that are out there like whoa, we think this is for drugs or we think this uses up too much energy or whatever. But anyway, I love pizza. I thought it’d be an interesting story to tell you here on Bitcoin Pizza Day, the 12th anniversary of the first transaction of Bitcoin back in 2010. I love the pizza story, and I love Bitcoin. I hope you have a great day. 

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