If you bought $100 of bitcoin 7 years ago, it'd be worth $72.9 million now

[siru]

Monday marks the seven-year anniversary of Bitcoin Pizza Day – the moment a programmer named Laszlo Hanyecz spent 10,000 bitcoin on two Papa John's pizzas.

More important than the episode being widely recognized as the first transaction using the cryptocurrency is what it tells us about the bitcoin rally that saw it break through the $2,100 mark on Monday.

Bitcoin (Exchange: BTC=-USS) was trading as high as $2,185.89 in the early hours of Monday morning, hitting a fresh record high, after first powering through the $2,000 barrier over the weekend, according to CoinDesk data.

On May 22, 2010, Hanyecz asked a fellow enthusiast on a bitcoin forum to accept 10,000 bitcoin for two Papa John's Pizzas. At the time, Hanyecz believed that the coins he had "mined" on his computer were worth around 0.003 cents each.

Bitcoin mining involves solving a complex mathematical solution with the miner being rewarded in bitcoin. This is how Hanyecz got his initial coins.

The cryptocurrency has many doubters as it continues to be associated with criminal activity, but it has still seen a stunning rally. Here are two facts, on Bitcoin Pizza Day, however, that highlight this:

While being worth $30 at the time, Hanyecz pizzas would now cost $21.8 million at current bitcoin prices

If you bought $100 of bitcoin at the 0.003 cent price on May 22, 2010, you'd now be sitting on around $72.9 million

A number of factors have been driving the rally:

Recently passed legislation in Japan that allows retailers to start accepting bitcoin as a legal currency has boosted trading in yen, which now accounts for over 40 percent of all bitcoin trade

Political uncertainty globally has driven demand for bitcoin as a safe haven asset

[k2s]

2 minutes ago, siru said:

Monday marks the seven-year anniversary of Bitcoin Pizza Day – the moment a programmer named Laszlo Hanyecz spent 10,000 bitcoin on two Papa John's pizzas.

More important than the episode being widely recognized as the first transaction using the cryptocurrency is what it tells us about the bitcoin rally that saw it break through the $2,100 mark on Monday.

Bitcoin (Exchange: BTC=-USS) was trading as high as $2,185.89 in the early hours of Monday morning, hitting a fresh record high, after first powering through the $2,000 barrier over the weekend, according to CoinDesk data.

On May 22, 2010, Hanyecz asked a fellow enthusiast on a bitcoin forum to accept 10,000 bitcoin for two Papa John's Pizzas. At the time, Hanyecz believed that the coins he had "mined" on his computer were worth around 0.003 cents each.

Bitcoin mining involves solving a complex mathematical solution with the miner being rewarded in bitcoin. This is how Hanyecz got his initial coins.

The cryptocurrency has many doubters as it continues to be associated with criminal activity, but it has still seen a stunning rally. Here are two facts, on Bitcoin Pizza Day, however, that highlight this:

While being worth $30 at the time, Hanyecz pizzas would now cost $21.8 million at current bitcoin prices

If you bought $100 of bitcoin at the 0.003 cent price on May 22, 2010, you'd now be sitting on around $72.9 million

A number of factors have been driving the rally:

Recently passed legislation in Japan that allows retailers to start accepting bitcoin as a legal currency has boosted trading in yen, which now accounts for over 40 percent of all bitcoin trade

Political uncertainty globally has driven demand for bitcoin as a safe haven asset

ee mukka 7 yrs back cheppi undalsindi

[tennisluvr]

But how do you liquidate that money bro, I don't think that's so easy. 

I heard first about bitcoin in 2012, when it was $5/bitcoin. My friend asked me to buy 1000 bitcoins, ippudu networth I think would have been $2M but then who knows it would have grown so much. 

Crypto currencies are always a risky venture. 

[dakumangalsingh]

2 minutes ago, tennisluvr said:

But how do you liquidate that money bro, I don't think that's so easy. 

I heard first about bitcoin in 2012, when it was $5/bitcoin. My friend asked me to buy 1000 bitcoins, ippudu networth I think would have been $2M but then who knows it would have grown so much. 

Crypto currencies are always a risky venture. 

ippudu nee account lo 10 Million vunte em chestav talchukoni santoshapadathav adi ante anukunta

[tennisluvr]

Just now, dakumangalsingh said:

ippudu nee account lo 10 Million vunte em chestav talchukoni santoshapadathav adi ante anukunta

$10M unte santosham to paatu chala cheyochu ankul. Nee lantollani immediately BCT ki ship cheyamani senator ni kalisi lobbying kooda chestha. 

[dakumangalsingh]

Just now, tennisluvr said:

$10M unte santosham to paatu chala cheyochu ankul. Nee lantollani immediately BCT ki ship cheyamani senator ni kalisi lobbying kooda chestha. 

$10M vunte inka bct endukankul

[siru]

9 minutes ago, tennisluvr said:

But how do you liquidate that money bro, I don't think that's so easy. 

I heard first about bitcoin in 2012, when it was $5/bitcoin. My friend asked me to buy 1000 bitcoins, ippudu networth I think would have been $2M but then who knows it would have grown so much. 

Crypto currencies are always a risky venture. 

u can cashout just like u cashout stocks..there are lots of reliable bitcoin exchanges where u can sell them off for a comission

but u do have to pay uncle sam his 30-40% share though 

[siru]

10 minutes ago, k2s said:

ee mukka 7 yrs back cheppi undalsindi

vision vundale..

[k2s]

Just now, siru said:

vision vundale..

antey neeku ledu ani oppukutunnava ? 

 

[siru]

Just now, k2s said:

antey neeku ledu ani oppukutunnava ? 

 

ya..andulo doubt emundi

 

[samaja_varagamana]

sare ipudu kondam anukuntunna 7 yrs tharvtha ila aythadi ani guarantee unda cheppu

[siru]

Just now, samaja_varagamana said:

sare ipudu kondam anukuntunna 7 yrs tharvtha ila aythadi ani guarantee unda cheppu

very good chance of it going up to 10k by then

actual ga 4k by this year end itself

[lazybugger]

7 minutes ago, samaja_varagamana said:

sare ipudu kondam anukuntunna 7 yrs tharvtha ila aythadi ani guarantee unda cheppu

ippudu nuvvu bitcoin transaction kosam aithey eppudu konna okatey.

investment aithey, no comments.

[tom bhayya]

9 minutes ago, samaja_varagamana said:

sare ipudu kondam anukuntunna 7 yrs tharvtha ila aythadi ani guarantee unda cheppu

5 yrs back db lo disco ayyindhi appudanna konaledhu  

[TOM_BHAYYA]

2 minutes ago, tom bhayya said:

5 yrs back db lo disco ayyindhi appudanna konaledhu  

3 years back secondtime disco ainappudanna konaledhu ani vision 2020 lo anukokunda undalante konesey ankul oka 10k petti aa kalyan babu meedha baaram vesi