From 10,000 bitcoins for pizza to half a bitcoin for a Tesla, what Bitcoin is going through

Sociologically, Bitcoin has a long way to go – after all, a currency circulation that relies on technology alone won’t work.

I didn’t know what Bitcoin was before, and when I did, it was already a huge place that we ordinary people couldn’t touch and couldn’t reach. I used to just hear about it, treat it as a joke in the middle, and then treat it as a legend. One of the earliest jokes I heard was when I remembered the news about the big moms who bought a lot of bitcoins at a high of $2000 and then lost money. At that time, there was an endless mockery of these moms in my head. Now, when I think about it, how narrow-minded I was at the time, I was the frog at the bottom of the well.

From 10,000 bitcoins for pizza to half a bitcoin for a Tesla, what Bitcoin is going through

These narrow-mindedness all stem from the resistance and rejection of new things. Now think about the previous group of moms are probably now earning tears. Of course, most people will probably regret and despair.

Now think about how proud the American programmer who was the first to use 10,000 bitcoins to exchange for pizza was when he successfully did so. It was May 22, 2010, when programmer Rassler Haunetz used 10,000 bitcoins to buy a $25 pizza. This successful exchange, which took him a good deal of effort to achieve, was the first bitcoin transaction in the real world, and the day was later determined to be pizza day by the bitcoin community.

From 10,000 bitcoins for pizza to half a bitcoin for a Tesla, what Bitcoin is going through

Even then he offered 10,000 bitcoins for the price of $50, but unfortunately no one bought them. Only later did someone offer to trade a $25 pizza coupon for the 10,000 bitcoins, and Rassler promptly and readily agreed to do so. Now I don’t know if this guy regrets it.

The group of people who were exposed to it earlier in our area didn’t cherish the opportunity either. A friend said he knew about bitcoin when his salary was a few hundred dollars a month, and also registered an account, downloaded a wallet, and even downloaded the mining software. The Celeron 586 computer had an integrated graphics card, so he couldn’t dig it out, and the hard drive he had put in his bitcoin wallet was thrown away. There is also one said he first knew about bitcoin, a dollar a, want to buy 10 yuan will not buy, charged a certain instant messaging blue diamond, now regretfully want to slap themselves two.

From 10,000 bitcoins for pizza to half a bitcoin for a Tesla, what Bitcoin is going through

In fact, there is no need to regret, because most people lost their bitcoins. Why didn’t Satoshi Nakamoto show up? My guess is that the bitcoins in Satoshi Nakamoto’s hand also forgot the password or the hard drive is broken, and there are very few bitcoins that can be circulated. Even if they are not lost, few people will have held them until now. So bitcoin has long gone through dozens of rounds of baptism, and it has experienced the great ups and downs of the human world.

As a cryptocurrency to be recognized by the majority of people, bitcoin still has a long way to go, first of all there is no stable equivalent material exchange conditions, again also need to have strong guardian institutions to get everyone to agree, the third point is the need to circulate the environment! These three points can not be guaranteed, bitcoin is also known as the game of the circle.

So what Musk has said can always be infinitely magnified in reality. Musk said can use bitcoin to buy a car, bitcoin soared, and at this time the bitcoin only half to buy a Tesla; and then said can not buy, plunged! The leeks without value support seem to become better cut inside reality.

From 10,000 bitcoins for pizza to half a bitcoin for a Tesla, what Bitcoin is going through

In my opinion the more Musk says this, the more he increases his holdings in bitcoin. This means that there is a good chance that there will be bigger money than him pouring into bitcoin in the future. The reason that Musk has already made a lot of profits and feels that there is no more room for profit in btc for a while, is that he is gradually selling off btc, thus accelerating the big fall in btc. He also said before that he agrees with the technology of crypto coins! Nowadays what he said and what he did are contradictory. So his words can be disregarded or reversed!

In fact, blockchain technology can be interpreted straightforwardly. A decentralized, peer-to-peer chain of extended crypto transactions! This is the most primitive prototype. There is a checksum link between each block! Secure transactions are guaranteed by computer cryptography! It is logical that blockchain is not limited to crypto coin transactions. But from a business point of view. Certain classical coin market changes will also ripple through the winds of the blockchain industry. Of course it may be that blockchain technology is promoted to a much smaller extent, to be seen from the perspective of ordinary people’s ideas and perspectives. If you look at it from the perspective of a technology developer, then of course the point of view is different!

From 10,000 bitcoins for pizza to half a bitcoin for a Tesla, what Bitcoin is going through

Financially speaking crypto virtual currency is indeed a safer form of money, but sociologically speaking, Bitcoin has a long way to go, after all a currency circulation is not possible with technology alone.

Many people do not understand virtual currency, someone played an analogy: if there are now 1000 ping pong balls, each ball is signed by the maker of the unique name, and then the maker released 100, said it would appreciate, everyone went to grab, and so the supply exceeded the demand, and then released a little out, slowly sold the ball in hand, they withdrew, leaving a group of people still in the dark in the robbery, they do not know why This ball is worth money, until one day suddenly someone found that the ball is a scam, the price avalanche. The author of this article is a member of the Roast Boy Creators Alliance.

Do you guys approve of this analogy?

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/from-10000-bitcoins-for-pizza-to-half-a-bitcoin-for-a-tesla-what-bitcoin-is-going-through/
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