is 20/20 vision. I'm, of course far sighted, and frequently miss what's right under my nose. Like the chance to buy real estate in Old Glenora in the mid 80's, and again in Calgary in the early 90's. My fortune would be made. And, of course, my failure to invest in Bitcoin - I remember reading about it when it first came out, thought it was a curious idea, but didn't stump up the cash. If I had I'd be worth Millions...
Bitcoin's big rally pushes prices to record highs
Monday marks the seven-year anniversary of Bitcoin Pizza Day – the moment a programmer named Laszlo Hanyecz spent 10,000 bitcoin on two Papa John's pizzas.
More important than the episode being widely recognized as the first transaction using the cryptocurrency is what it tells us about the bitcoin rally that saw it break through the $2,100 and $2,200 marks on Monday.
Bitcoin was trading as high as $2,251.61 midday Monday, hitting a fresh record high, after first powering through the $2,000 barrier over the weekend, according to CoinDesk data.
On May 22, 2010, Hanyecz asked a fellow enthusiast on a bitcoin forum to accept 10,000 bitcoin for two Papa John's Pizzas. At the time, Hanyecz believed that the coins he had "mined" on his computer were worth around 0.003 cents each.
Bitcoin mining involves solving a complex mathematical solution with the miner being rewarded in bitcoin. This is how Hanyecz got his initial coins.
The cryptocurrency has many doubters as it continues to be associated with criminal activity, but it has still seen a stunning rally. Here are two facts, on Bitcoin Pizza Day, however, that highlight this:
- While being worth $30 at the time, Hanyecz pizzas would now cost $22.5 million at current bitcoin prices.
- If you bought $100 of bitcoin at the 0.003 cent price on May 22, 2010, you'd now be sitting on around $75 million.
Link: http://www.cnbc.com/2017/05/22/bitcoin-price-hits-fresh-record-high-above-2100.html
AND, Somebody even more miserable than I: https://www.gizmodo.com.au/2017/05/i-threw-away-4-8-million-in-bitcoin/