Bitcoin pizza incident revelation: rational investment is not the enemy of the Buddha holding money?

This is really a sadr story than sadness.

On May 18, 2010, programmer Laszlo posted that he hoped to exchange 10,000 bitcoins for two large pizzas. Three days later, cryptographer jercos spent $25 to buy two pizzas and sent them to Laszlo. Ten thousand bitcoins.

Time is back to the circumstances of the time, perhaps this story is not sad:

1. At that time, the first creation block of Bitcoin was born only for more than a year. Bitcoin is only a tool for cryptography enthusiasts to reward each other. It does not have the price of anchoring legal currency. Maybe no one thought about using it. Come to exchange money. The genius programmer Laszlo gave Bitcoin a price in the way of changing pizza, inadvertently pushing forward the process of virtual digital currency currency, and he became the first person to buy goods through Bitcoin, and was included in the history. .

2. At that time, bitcoin mining competition was very small. Laszlo replaced CPU mining with GPU, and won 1-2 block rewards per hour. At that time, one block rewarded 50 bitcoins. On May 17th alone, he received 1400 bitcoin rewards. Estimated by the low-cost bitcoin mining revenue at the time, this buddy may have had a lot of bitcoin, and maybe it’s nothing to eat pizza.

3. At that time, I was able to access the virtual digital currency, and I was able to use the mining method to obtain revenue. If I have been able to continue to participate in virtual digital currency mining for 10 years, I will invest a little more, even if I missed Bitcoin, then Litecoin and Ripple. Coins, Ethereum, etc., as long as you grab one at a time, the big probability is to gain the freedom of wealth in the eyes of the world.

However, the sad story still happened:

1. After Laszlo bought the pizza for the first time and tasted the sweetness, he spent another 40,000 bitcoins to eat the pizza. When the value of Bitcoin rose to $1, he sold all the bitcoins for a new computer.

2. Laszlo is still a programmer at GoRuck, an online retail company in Florida, which is no different from his career when he bought bitcoin nine years ago.

3. Jercos, which received 10,000 bitcoins, did not wait until December 2017 when bitcoin was up to $20,000. The 10,000 bitcoins were sold after 10 times of earnings.

I think that my friends who have entered the market for nearly a year have sighed and sighed. If they can enter the digital currency field in the early years, they may have had proper wealth. However, when you see the story of this bitcoin for pizza, you should understand the truth. If many things are missed, you will miss it. There is no point in making this "early know" hypothesis.

A similar story template is not unique in the virtual digital currency field.

You must have heard that Xiao Wang from Beijing sold the small courtyard house in Beijing at a price of less than 300,000 yuan. He worked hard to earn 6 million yuan after going abroad. Now he goes home. Lao Wang discovered the courtyard house that he sold that year. It has soared to 80 million yuan, and he vomited blood to the hospital.

Or, Li Ka-shing, son of Li Ka-shing, who held a 20% stake in Tencent, sold it to South Africa's MIH Group for $12.6 million in 2001, missing more than 400 billion.

and many more……

In any value-added commodity investment with fluctuations in value, including: gold, jewellery, art, antiques, stocks, real estate, etc., such things are regrettable. The so-called buy-in, the wrong love, once the investment Inflows into the market should follow certain market exchange rules.

Bill Gates once said a word, true wealth = concept + time. It can be seen that the acquisition of any wealth needs to go through the test of time, and the profit and loss on paper during this period is the biggest test of your concept and cognition.

Through the bitcoin pizza incident, we should at least reap the following revelations:

First, rational investment has limitations, and cognitive upgrading is the last word.

It seems that a group of people are laughing at a fool, in fact everyone is very ordinary.

Many people say that if the 10,000 bitcoins didn't buy pizza that year, they would sell at least $160 million if they sold at the 2017 high. Therefore, everyone will not consciously try to figure out the shadow area of ​​Laszlo's heart, and feel that he is a fool, so he missed the billionaire.

However, if Laszlo's life is experienced by most people, I am afraid that more than 99% of people will have the same choice as him. Just like our friends who admire the early 300-500 dollars to invest in Bitcoin, I think they are already wealth free. In fact, even in the early days of the development of digital currency, there are only a handful of people who truly realize the freedom of wealth. Most people either invest in a lot of bitcoin, but the private key is lost; either they buy bitcoin at a very low price, and the price is sold in a 10-100-fold range; or after the bitcoin is empty, Overshadowed the shadow of the miss, began to turn black, completely bid farewell to the field of digital currency investment;

In any case, the people who invest in digital money to make money really do not rely on rational investment logic. It is precisely the original brainless beliefs and the unspoken madness that has made them. If they are the winners of life, they are also completely ahead of the cognitive ability and the psychological literacy against financial market volatility.

Li Xiaolai once laughed and talked about his digital currency account, and when he woke up, he woke up by 200 million more. If he wakes up, he may wake up by 100 million. If he is able to invest in the currency standard, he will still be able to invest in the currency. The height of cognition is something that I can't match.

On February 25 last year, Laszlo spent another 0.00649 BTC through the lightning network and purchased two more pizzas. For the sad story of missing hundreds of millions, Laszlo said that he did not regret it, and the pizza he got was delicious.

This cloudless attitude is quite worthy of our worship.

Second, high-rate investment opportunities, low-cost counter-attacks may be gone

History will not repeat itself, but it will be strikingly similar.

Many people like to use the pizza incident to say things, and advise people around them to stabilize a coin and avoid the tragedy of the times like the pizza incident. In fact, such concerns are somewhat redundant. Bitcoin's tens of millions of times is a once-in-a-lifetime opportunity. Since then, Ripple has also risen tens of millions of times. In recent years, major currencies such as Ethereum, Litecoin, and BNB have also had a return on investment.

Take the currency platform BNB as an example. In July of the 17th, it was broken on the line, the lowest fell to 0.6 yuan, and now it has risen to 230 yuan. Although it is not as crazy as the increase in Bitcoin, it is another rare opportunity to get wealth from us, but how many people have seized it? In the forum, we will see many people's grief, complaints, and vomiting after the flight. Like many years ago when many people stepped on Bitcoin, let us talk about the mouth shape: "The man looks like a strange dog. He looks like a shit."

So, will there be any investment opportunities like Bitcoin in the future?

The big probability is gone. For most people, what is lacking is not a high rate return, but a low-cost reversal opportunity. Unlike investment properties, secondary market stocks, and primary market angel investments, the investment capital of early Bitcoin is minimal. Real estate and stocks seem to have a large rate of return, but the principal to be paid is what most people can't afford. For example, the average price of a house in Beijing 20 years ago was 2,000 yuan. From the current point of view, it can't be lower, but at that time, the monthly salary was less than one thousand. several?

Now everyone knows about Bitcoin and wants to invest in Bitcoin, but the price of over 50,000 yuan will make a large number of people discouraged, even if you tell him that Bitcoin can rise to 1 million or even 10 million in the future. Few people sell houses, sell cars and take bitcoin to gamble tomorrow (even if it is not recommended).

Affected by the Bitcoin pizza incident, many people now invest in digital currency to choose some cottage currency, trying to achieve the freedom of wealth by investing hundreds of times and thousands of times in the low-cost investment. Sadly, such projects lack the most basic qualities of Bitcoin: the total supply is scarce and irreplaceable (consensus), and it can continue to add value in circulation.

Now many hundred times of non-open source, the code can be arbitrarily changed, or even the coin that is artificially made by the fund disk mode. There are crops behind the scenes. Most people will still be cut off the leeks, and they will cut a wave and change the vest. Cut back in the same pattern and never give you the opportunity to unravel.

This is a very cruel contradiction in the current investment of digital currency: the value of the investment capital of the underlying target is too high, and the investment of non-value targets is too deceptive.

Third, "Buddha holding money" may no longer be the best choice

Now the mainstream media is still arguing about the super high return of storing digital currency, which has caused a misconception to most people. Digital currency investment must be held by the Buddha. The trading behavior of buying and selling will only increase the number of flights. Set the risk.

Although historical experience tells us that the income of the Buddha's holding currency may be the highest, the vision of Bitcoin at the beginning of its birth is for circulation. As a peer-to-peer electronic cash system, the payment scenario should be greater than others. Laszlo has given Bitcoin a stronger circulation attribute through the Bitcoin pizza trading event, which definitely has made outstanding contributions in the history of Bitcoin development.

Of course, due to the block capacity and delay confirmation characteristics of Bitcoin, it is still difficult to fully use Bitcoin for circulation. However, the emergence of subsequent sidechains and lightning networks is precisely doing such an effort. Bitcoin's realistic price volatility is due to information asymmetry. Early investors with chips will release chips at the current price to new investors, which will last for 3-5 years or even longer.

During this period, early-stage users still have the opportunity to get a high premium. When the chips are scattered to a certain extent, bitcoin in the sense of storage and bitcoin in the sense of circulation may be parted ways. Bitcoin is really digital gold, while others Currency such as stable currency is the biggest bargaining chip. The Bitcoin pizza event may become a legendary existence. At that time, perhaps there will be a sense of frustration that missed an era.

It should be said that the next 3-5 years is the best time to get on the bus, but it is not simply understood as spending 5,000 yuan to invest 0.1 bitcoin, so what if it is 20 times more? And if the investment in the blockchain industry is added to the technology learning and cognitive enhancement, find opportunities in the gap between the blockchain and the traditional application scenarios, and find a sense of security under the soft power of the industry's cognitive improvement. It makes more sense than pure speculation.

For teenagers who want to get a chance to turn around in the digital currency market, it may not be appropriate for the Buddha to hold the currency. Appropriately learn a little financial knowledge, grasp the law of rising and falling of digital currency, make reasonable fixed investment (low cost, low risk) during bear market, cooperate to do band (play compound interest, expand principal) during bear-to-bovine, in the peak period of bull market Cashing out is the right way to play the digital currency market logic.

Dare to buy is a cognitive breakthrough, and selling is the ability to grasp the opportunities of the times.


There is no such thing as a tall concept, no unconventional technical explanations, only the most popular business, the most keen perspective, and the most unique insights. I am still a poor elementary school student in the blockchain industry. The article thinks and thinks about it. It is a broken thought. You are not smiling inside the circle. You are welcome to learn from it.

Author: View of the chain

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