Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Mega Mind on May 20, 2024, 10:15:01 PM
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We have seen how the hype around the recent BTC halving has created exposure for the crypto market and Bitcoin in general. Even altcoin traders were enthusiastic about alctoins which many believe would have brought in more returns if Bitcoin had done well and made a lot of increase, now we have another interesting day for Bitcoin which is the Bitcoin Pizza Day and I want to know what everyone thinks of this day.
I mean we are remembering the day when someone bought a pizza with 10,000 BTC, if we remember events like this, it could inspire the trust in BTC and may might want to benefit from it believing that it could rise up in future, I mean, nobody will like to be like the guy.
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Well that kind of worked, not knowingly of course but it still worked. People do sell their coins, daily, every single day, there are people who sell. But there are also a lot of people who hold as long as they possibly could without ruining their finances, just so they do not become like that guy. There are also a lot of people who invest as well knowing that they do not want to be missing out as well. So this does work very well on the long run. I think it should be something that people realize, every event in the crypto world itself will make a bigger news for crypto prices then any other news in non-crypto world could.
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I mean we are remembering the day when someone bought a pizza with 10,000 BTC, if we remember events like this, it could inspire the trust in BTC and may might want to benefit from it believing that it could rise up in future, I mean, nobody will like to be like the guy.
I would not say 'nobody would like to be the guy' all because that transaction for Bitcoin was very important as it marked a big milestone in its history as an asset that can function like money. There would be no annual Bitcoin Pizza Day if there was no Laszlo Hanyecz (https://finance.yahoo.com/news/coinex-celebrates-bitcoin-pizza-day-140000174.html)who exchanged 10,000 BTC for two pizzas on May 22nd, 2010, symbolizing a significant turning point in the practical application of Bitcoin. Now, talking on impact of an event like this on BTC's price, I think the effect can be limited as there is nothing new here although this is taking some space in crypto-related news site and maybe even the mainstream media can mention it thus encouraging more people to look at Bitcoin. Halving can definitely create more impact as it happens every four years and it slashed the mining reward in half thus limit the supply more.
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It is true that Bitcoin Pizza Day has become an important part of Bitcoin history, but I do not expect it to have a significant impact on the price of Bitcoin. With the exception of some celebrations and the distribution of some gifts here and there in some exchanges to encourage trading, etc., I do not expect Pizza Day to have a significant impact on the price.
The biggest impact of Pizza Day, in my opinion, is psychological, as many people pay to keep Bitcoin for as long as possible so that something does not happen to them, as happened to Laszlo Hanyecz, who paid 10,000 Bitcoin for two pieces of pizza.
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I mean we are remembering the day when someone bought a pizza with 10,000 BTC, if we remember events like this, it could inspire the trust in BTC and may might want to benefit from it believing that it could rise up in future, I mean, nobody will like to be like the guy.
Nobody wants to be that guy, but the guy himself isn't regretting for his decision either.
I also bought my own personal computer in 2018 that caused me around 0.04 BTC at that time. I don't know what's the price of 0.04 BTC in 2018, but for sure it's lower than where it is today. Did I regret using my Bitcoin to buy a personal computer? Hell, no because it's my decision, and I don't have spare money to use to buy my computer aside from the BTC that I'm holding.
Crypto events will just happen. Some might have significant impact towards the price of Bitcoin, but most will have not. The recent event which is the Bitcoin halving event is the one that always have a significant impact towards the price of Bitcoin. Smaller events like an influencer buying Bitcoin or whatever will have little to no impact towards the price of Bitcoin.
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The rise of Bitcoin in the past is not a measure of how it will rise in the future, but the truth is that the rate of rise in the price has decreased a lot compared to previous years, as it was easy for the price to weaken 3 times easily, but at the present time a 100% increase may be impossible.
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You can see it right now, when the ETH ETF rumors pump the market!
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I mean we are remembering the day when someone bought a pizza with 10,000 BTC, if we remember events like this, it could inspire the trust in BTC
Many people remember that event and on Bitcointalk it's celebrated each year. It's one of the most impactful events about Bitcoin and it really reminds us that how far we have gone.
Bitcoin was literally very low in value in 2009-2010 and now the ones who own it are the richest ones.
Satoshi's invention and vision has changed this world a lot and we all should be thankful to him that he created Bitcoin.
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I mean we are remembering the day when someone bought a pizza with 10,000 BTC, if we remember events like this, it could inspire the trust in BTC and may might want to benefit from it believing that it could rise up in future, I mean, nobody will like to be like the guy.
First of all, it was actually 2 pizzas and yes such a cautionary tale could indeed have the ability to build up some motivation in the heart ofanny investors as it'll open their minds to the possibilities of Bitcoin. Even I do think about the story sometimes and imagine just how devasted that dude who paid 10,000 BTC for two pizzas would be today ( if he's still alive), I mean I would be if I were him
But looking at it on the bright side, if he hadn't initiated such a transaction then, his name and story wouldn't be remembered and talked about when discussing notable moments in the history of bitcoin every single year, so it's actually a good thing and a sort of inspiration for other Bitcoiner.
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We have seen how the hype around the recent BTC halving has created exposure for the crypto market and Bitcoin in general. Even altcoin traders were enthusiastic about alctoins which many believe would have brought in more returns if Bitcoin had done well and made a lot of increase, now we have another interesting day for Bitcoin which is the Bitcoin Pizza Day and I want to know what everyone thinks of this day.
I mean we are remembering the day when someone bought a pizza with 10,000 BTC, if we remember events like this, it could inspire the trust in BTC and may might want to benefit from it believing that it could rise up in future, I mean, nobody will like to be like the guy.
Nobody wants to be that guy,, I even wonder how he'll be feeling now. Although I think this wouldn't have an impact on BTC price, but I think some platforms are celebrating with some events. Which I think it's cool.
(https://i.ibb.co/XxHyyQs/IMG-20240520-WA0030.jpg) (https://ibb.co/KxnNNPq)
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We have seen how the hype around the recent BTC halving has created exposure for the crypto market and Bitcoin in general. Even altcoin traders were enthusiastic about alctoins which many believe would have brought in more returns if Bitcoin had done well and made a lot of increase, now we have another interesting day for Bitcoin which is the Bitcoin Pizza Day and I want to know what everyone thinks of this day.
I mean we are remembering the day when someone bought a pizza with 10,000 BTC, if we remember events like this, it could inspire the trust in BTC and may might want to benefit from it believing that it could rise up in future, I mean, nobody will like to be like the guy.
Perhaps this is what drove the price of Bitcoin recently to above $70k? As investors trying to relived this historic event and so it created a lot of hype again and again every year. So I would say still good and yeah it could instill some trust in BTC.
However, when he did it, he wants to proved that BTC can be used for micro-payment/transaction. But now BTC is a investment vehicle, everyone is jumping on it because of it's potential to get us good ROI in the future. Nevertheless we won't forget this historic event that Laszlo Hanyecz as it really pave the way and open the doors for BTC.
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We have seen how the hype around the recent BTC halving has created exposure for the crypto market and Bitcoin in general. Even altcoin traders were enthusiastic about alctoins which many believe would have brought in more returns if Bitcoin had done well and made a lot of increase, now we have another interesting day for Bitcoin which is the Bitcoin Pizza Day and I want to know what everyone thinks of this day.
what do you mean by about what we think now?of course this is a festive day that we will always celebrate because this day the wrold will always remember bitcoin holder spending millions if not billion of dollar for pizza.
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I mean we are remembering the day when someone bought a pizza with 10,000 BTC, if we remember events like this, it could inspire the trust in BTC and may might want to benefit from it believing that it could rise up in future, I mean, nobody will like to be like the guy.
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we are all benefiting from that day because that is the time where bitcoin becomes more popular and now the price keeps growing year after year.
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At the time when a guy sold his Bitcoin for buying pizza he was not familiar with the value of Bitcoin but now as people are hearing about that guy then everyone wants to hold Bitcoin because they know that the value of Bitcoin will increasingly as time passes.
Everyone wants to be a guy like that who was an investor of bitcoin but no one wants to sell their Bitcoin for just buying a pizza like that guy. But that happening has a positive impact on Bitcoin investors and their goals are now just to hold Bitcoin without making any mistakes for which they will regret in future.
The pizza day does not change the price of Bitcoin but it can change the mind of Bitcoin investors to accept Bitcoin and keep it longer instead of using it for purchasing materials.
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If in the past the person who exchanged 10,000 Bitcoins for pizza knew that Bitcoin prices would be like they are now, of course that person would not have done it. But because at that time no one knew, this could happen.
And of course this will be the history of Bitcoin, where it was the first time Bitcoin could be exchanged for goods. I also think this will not affect the price of Bitcoin, but this will only be remembered as a historic day.
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I mean we are remembering the day when someone bought a pizza with 10,000 BTC, if we remember events like this, it could inspire the trust in BTC and may might want to benefit from it believing that it could rise up in future, I mean, nobody will like to be like the guy.
Yeah you are right, this event did not only serve the purpose of that one sacrifice that was needed to initiate the public sale of BTC, although BTC was traded before this trade as well. But this one got more hype. As it was public, not among Satoshi and Hal Finney. It also served the purpose of giving a lesson to those who want to sell it. As many people might consider this event as a lesson or excuse to no to sell otherwise they will regret it.
And I think we should really not take this event in that way while selling and buying should be logical base, not emotional or past events based. So, we should make proper analysis instead of linking ourselves to an emotional event I take it as emotional because it makes me haha. I think of it as a great sacrifice that Laszlo has made. I hope he would have made more BTC till now.
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Have you seen that coinmarketcap.com added a feature to see all those historical events in bitcoin price?
(https://www.talkimg.com/images/2024/05/24/Lu4MJ.png)