In 22nd of May 2010 Laszlo Hanyecz bought 2 Papa John pizzas for 25$. Well he paid with Bitcoin, he paid 10,000 BTC which was then equal to 25$.
Now it's worth 27,000,000 $, so this is the famous story of 2 pizzas that ended up costing him 27 m $. It was a very foolish mistake.
You can still read the entire event here, it's well archived:
Bitcoin at current price is 2748.20, back then it was pennies, so this just show how people should be careful how they spend their money, they never know when they miss a golden opportunity of becoming rich for just an immediate pleasure.
Although it's very unlikely that Bitcoin will go up to 1 million $, so people who have 1 BTC now, should not be as careful as back then. But I can totally see it happening with other currencies.
Examples
- For example Steem, people who hold 10,000 Steem now have 21500$, if the Steem market cap would go up to 450 BN$ like Facebook, then that would be a 889.32x increase, essentially making you 19,120,553 $. Well well, you could just become a millionaire that easily.
- Synereo is another example, and upcoming social media "amplifier" platform, holding 10,000 AMP tokens now is just 6566.21$, but if it were to go up only to 100 billion market cap like any large app platform could, then that would mean a 1851.85x multiplier, essentially turning the 6 grand into 12,159,648 $
..... AND THE POSSIBILITIES ARE ENDLESS
This is not an investment advice, just keep in mind that sometimes spending money makes you give up fortunes. In fact the mere fact of spending is already draining you away your money.
Buying 2 pizzas? That will end up in the toilet a day later, even if not eaten, it expires in a few days. But holding onto a cryptocurrency for 3-4 years is the way to become rich. Stop spending, start saving and finding ways to make money in cryptocurrencies!
If I were you I would just buy all hot new cryptocurrencies, I have already did:
- Steem
- Synereo (AMP)
- Edgeless
.... and more
You can follow my personal blog about my investments to see where I put my money at: #becomingrich
Disclaimer: The information provided on this page might be incorrect. I am not responsible if you lose money using the information on this page! This is not an investment advice, just my opinion and analysis for educational or entertainment purposes.
Sources:
https://pixabay.com
