Bitcoin has not always had such a great value and value per coin, as it does now. At that moment, when it first appeared, no one used cryptocurrency and no one knew about it. Therefore, its cost was practically zero. During this period, there were extremely interesting (by today’s standards) purchases of ordinary things for a large number of bitcoins. Let’s analyze such examples and take a closer look at the famous “pizza for 10,000 bitcoins” meme.

Pizza for 10,000 bitcoins

 

The most bizarre and offensive bitcoin purchase that has gained a lot of popularity was the purchase of a pizza by a young programmer in 2010 for 10,000 bitcoins.

The story is very simple. A programmer from the USA in 2010 ordered 2 pizzas for himself and paid for them with bitcoins. 2 pizzas cost $25, at that time the equivalent was 10,000 bitcoins. He also paid a fee of 0.99 BTC. If we take the average current price of bitcoin at the moment ($40,000), then this purchase would cost $400 million.

There were many such situations. However, basically, they are all connected precisely with the loss of access to wallets containing hundreds or thousands of bitcoins. This case went down in history because of its absurdity. The young man, in fact, voluntarily parted with such an amount. Of course, no one knew then. Therefore, this pizza is considered the most expensive in history.

First bitcoin to fiat exchange

First bitcoin to fiat exchange.  Photo: Mc_Cloud / shutterstock.comFirst bitcoin to fiat exchange. Photo: Mc_Cloud / shutterstock.com

 

The very first time bitcoin was exchanged for fiat money in October 2009. That is, in the first year of operation of the Bitcoin blockchain.

This translation took place on behalf of one Finnish developer. He made a transaction, sent 5000 bitcoins to an unknown wallet and received $5 for it.

Most likely, this was not a forced measure, but a test of the operation of the cryptocurrency network. Also, this event is noteworthy in that, in fact, from this moment on, the cryptocurrency began to acquire the properties of the financial system. People started putting real money into it. That is, to provide bitcoin not only with interest, but also with real assets. Recognize that digital money is the equivalent of fiat money.

These stories may seem very sad or offensive to someone. And, in fact, it is. But all this gave rise to the spread of cryptocurrencies around the world. People began to recognize them and invest their real money in them. That is why today we can see such popularity and a huge rate of digital gold