The very first bitcoin transaction??? (pizzagate)

submitted ago by Kiwi_Slave

From (((Wikipedia))) Yes, I know that Wikipedia's founder (((Jimmy Wales))) was a "porn king" who sold online pornography before launching Wikipedia. But whether true or not, this is the official story:

"On 22 May 2010, Laszlo Hanyecz made the first real-world transaction by buying two pizzas in Jacksonville, Florida for 10,000 BTC. In five days, the price grew 1000%, rising from $0.008 to $0.08 for 1 bitcoin."

At the moment, we are talking about around $140,000,000. Ok, I am perfectly willing to accept that this 2010 transaction may have been innocent and related to a cheap dinner. But seriously, what are the odds? Also, the unknown creator(s) of bitcoin and their close associates knew it could take off big time. A port city in Florida? Someone with two young humans (well past their best by date?) to traffic might have taken a flyer on the new crypto currency and wanted to make a historical inside joke. And who would have been more interested in an almost untraceable payment system than those wanting to buy and sell children?

Vindicator ago

@Kiwi_Slave: Sorry, gotta remove this per Rules 1 and 2. Please see our submission rules -- all posts to v/pizzagate must contain linked sources for all major claims. This should be posted in v/pizzagatewhatever.

Are_we_sure ago

A port city in Florida? Someone with two young humans (well past their best by date?) to traffic might have taken a flyer on the new crypto currency and wanted to make a historical inside joke.

this is cukoo bananas pants thinking.

It's also a logical fallacy known as the Historian's fallacy. AKA Hindsight is 20/20.

Historian’s Fallacy (also known as: retrospective determinism, hindsight)

Description: Judging a person's decision in the light of new information not available at the time.

Bitcoin was less than a penny when this guy made his offer for two pizzas. For your story to work, he had to know that bitcoin would reach its present values. And there's no way he could have known that. Bitcoin prices have spiked and have dropped in the past.

Essentially, you are viewing choices made in 2010 through the information you could have only gotten in 2017.

finska ago

I happen to agree with this. The value of all the bitcoin in circulation until very recently has not been enough to be used to pay for nefarios and usually expensive things such as organs, drugs or cheese pizza.......

Are_we_sure ago

Bitcoin is a massive waste of energy right now. Using up more energy than many countries.

Today, each bitcoin transaction requires the same amount of energy used to power nine homes in the US for one day. And miners are constantly installing more and faster computers. Already, the aggregate computing power of the bitcoin network is nearly 100,000 times larger than the world’s 500 fastest supercomputers combined.

The total energy use of this web of hardware is huge—an estimated 31 terawatt-hours per year. More than 150 individual countries in the world consume less energy annually. And that power-hungry network is currently increasing its energy use every day by about 450 gigawatt-hours, roughly the same amount of electricity the entire country of Haiti uses in a year.

finska ago

This is BS listen to Clif High explain....https://m.youtube.com/watch?v=NbIejrnQtd4&a=&feature=youtu.be

ponyfriend ago

supposedly this was actually for two pizzas, it was like $20 in bitcoin at the time. if it wasn't such a famous case, i would be more suspect. i didn't realize it went up so much so quickly, 10x in 5 days, wow.

Flat_Truth ago

It did not go up 10x in five days... it has gone up from around 10k to 14k though and won't stop any time soon. John McAfee promised if its not over $500,000 in three years, he'll suck himself off on live video..... unfortunately (or fortunately if you own bitcoin), we won't be seeing John sucking himself off :/

Kiwi_Slave ago

Yeah, I even vaguely remember when the story was reported at the time. But, after the past 1+ year, I don't take anything at face value. Almost everything we hear on the news or read from official sources is a lie or a half truth. Why not a story of buying a beer or uber ride or hamburger or haircut? Somebody wanted to start the legend of the biggest financial project of the decade over pizza. Even if no goods changed hands other than a flat Italian pie, the imagery is suspicious. A dog whistle to the customers? Telling them that bitcoin would be accepted as payment in (((pizza parlours))), which would make bitcoin worth something.