In case you missed it, today was the 10th ever Bitcoin pizza day - a holiday where the BTC community comes together (virtually, at least) to celebrate the day when Laszlo Hanyecz used 10,000 BTC (when Bitcoin was only 1 year old and far less valuable than it is today) to buy 2 pizzas in what has been deemed the first ever commercial BTC transaction.
Today, the value of each of those pizzas now comes out to about $45,000,000 USD per pizza.
The point of this is not about the BTC value then and now. It's not about how the future value of the currency he used is now worth exponentially more than it was back then.
The point of this whole Bitcoin pizza day (and for the most part - the halving event as well) is the Bitcoin narrative. For something to work in society, we have to collectively believe in it.
In order for Bitcoin to succeed, it needs to build on the collective belief in the ecosystem. We need more and more people to use and believe both in Bitcoin's fundamental value (i.e. transportability, fungibility, privacy etc.) and we need them to believe in the more surface-level narrative (i.e. price, non-correlation to other markets, etc.).
While on the surface they seem like vanity events, the Bitcoin Halving and Bitcoin Pizza Day are simply reminders to those of us in the space who care and also to those outside the space who hear us making noise that Bitcoin is our collective belief system. That we believe in decentralization, transparency and a more abundant economic future.
How I Celebrated
So now that I've explained why BTC pizza day is important to me, here's what I actually did today to celebrate it:
- Bought some Bitcoin
- Spent some Bitcoin
- Ate some pizza
Bought some Bitcoin:
Bitcoin took a little dive yesterday and dropped down to around $8900. I set some orders and saw that they filled today at $9k, so I fulfilled this part of the game and exchanged some of my fiat for some of those beautiful sats.
Spent some Bitcoin:
I spend BTC at the grocery store through the Cash App which is extremely convenient.
Ate some Pizza:
With those groceries, I ate some pizza by baking myself a nice deep dish pizza with giardinara, chicken sausage, mozzarella and olive oil at home.
Becoming a BTC Maximalist:
This is a half-joke. I'm obviously not a BTC maximalist, otherwise you wouldn't find me here on Hive and using other chains like Ethereum.
I made a joke in the last LEO Roundtable that I have been feeling more and more like a BTC maximalist these days. It's hard to not be bullish on crypto, but it's impossible to not be bullish on BTC in the long-run.
So no, I'm not actually becoming a Bitcoin maximalist, but I do like to remind myself and others from time to time that BTC is the dominant dog in this industry. The narrative of Bitcoin is that it is the original. The trust-less, border-less and transparent backbone to the entire crypto industry.
Days like today are another great reminder to me about why I got into crypto and why I choose to stay.
Happy Bitcoin Pizza Day!
Posted Using LeoFinance