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RE: When did this happen?

in LeoFinance10 months ago

People are still in general stupid when it comes to the media and finance.

The first real-world Bitcoin transaction was a pizza purchase on 22 May 2010, from Papa John’s, for 10,000. The pizzas were valued at $US25 ($A33) at the time, but today those pizzas would be worth nearly $US140 million ($A184 million).

They place the value in the pizza, not in the coin. Pizza makers would love to have the price of pizza being in the millions That is all you hear ever hear about that first purchase. They never follow up the example with:

Today that $25.00's worth of pizza would only cost 0.00080 bitcoin!!!

The price of pizza doesn't change often. That 25 dollars burning a hole in your pocket might need a little bit of help to buy a pizza or not if you find one on sale. That 10,000.00 bitcoin on the other hand would buy the pizza store. ($378,154,000.00)

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Today that $25.00's worth of pizza would only cost 0.00080 bitcoin!!!

Lol yeah, that is a pretty bloody amazing way to look at it. :D

Buy the pizza store and the suburb it is located in.

The way the media plays it, it is the value of the pizza and the dollar that has gone up, not so much bitcoin.