Story of buying two pizzas with 10,000 Bitcoins in 2010 | Now worth 91 million-dollars!

It was worth $25 in 2010, Now worth $91m! Yes, it's true!

Back in 2010, A computer programmer from Florida named Laszlo Hanyecz, made a deal with someone into accepting the 10,000 Bitcoins he had "mined" (read about Bitcoin Mining on my blog) on his computer in exchange for two pizzas.

In those distant days, Laszlo estimated that every Bitcoin he earned through simply running a software on his computer doing crunching of numbers was only worth a tiny fraction of not even a dollar, but a cent. It was just like the small cashback value of a coupon received in an email, worth buying a single cookie.

So at that time, it appeared something like a coupon to grab a couples of muffins with money that some software came into existence through some strange mathematical magic. But it was something far beyond that. Since you are reading this, you already know what I'm talking about! Yes, you got me right!

Image Courtesy: https://i.ytimg.com/vi/AF_TJ4ff1L0

Then the three years passed and came 2013. Financial speculators, the media and everyone who got wind of Bitcoin were astonished to see the price rise over $1,200 at the beginning of December, 2013. At present, when I am writing this, it is $9,300. If you want you can take your calculators out and see that Laszlo's pizza purchase must be worth about $91 million at the current prices of Bitcoin.

In an interview at the New York Times, Mr. Hanyecz said, “It wasn’t like Bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool,”.

Now, some analysts (including me) have a projection that price of a single Bitcoin could ascent higher than $30,000 in the coming months and years. But for now, I'm waiting here to see that happen and ordering a plethora of pizza, because unlike Bitcoin, today also I have love for a slice of veg extravaganza with cheese burst, even if the first bite of it burns my mouth.

Source: http://www.techcryptoguru.com/?p=517