22nd of May is a significant day as in 2010 a man called Laszlo Hanyecz who was living in Florida in the USA was the first person it is believed to have used a crypto currency Bitcoin – to make a transaction
The 1st transaction using a crypto was to actually buy a couple of pizzas for 10,000 BTC which then were valued at $41. The same 10,000 BTC values each pizza at $45m each
Hanyecz went on to spend a total of 100,000 BTC in the summer of 2010 to buy more pizza for his lunch, which at BTC highest price would have been worth $2billion!
Now there are typically 200,000 transactions day using BTC and the BTC along with other crypto currencies have become more mainstream i.e.the bass guitarist from Cold play has invested in a BTC trading platform Zumo
It is also possible with Baanx and Coinbase, both which have VISA debit cards linked to Crypto currencies including BTC, so you can spend BTC in 42 million places in 200 countries globally i.e. where ever a VISA card is accepted
In 2020 one of Munich Re subsidiaries, revealed that 36% of small-medium businesses in the US accept Bitcoin. However, it is not just SMEs that accept BTC larger ones include Wikipedia Microsoft Expedia AT&T Or. `It is also possible by using spendit, a search engine, to discover different products and services that you can buy from a wide variety of vendors.
In 10 years, Bitcoin has come a long way and is now far better known and used on a daily basis. While the cyber punks dream for Cryptos to being universally accepted and potentially making banks superfluous, it is highly unlikely the technology they employ- Blockchain is set to change the way many people do business
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#Bitcoin #Crypto #Pizza #France #Banks #Microsoft #Expedia #cash #Economy #Money #Blockchain
Pizza for $45 million, and someone bought TWO!
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