These guys...a decade ago didn't know what the future holds...but you do.

in LeoFinance2 months ago (edited)

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I am pretty sure that you know the story about the guy who paid 10.000 BTC for 2 pizzas, right? No? Well it's true. On May 22nd 2010 this is the amount he paid to get his two pizzas.

He let everyone know about this offer through, bicointalk.org on May 18th and some of the replies he received were really interesting. In case you don't want to hit the link just look at the screenshots.

20210207 20_28_53Pizza for bitcoins_.png

20210207 20_29_29Pizza for bitcoins_.png

Of course there was no Binance, no Bittrex etc and the only place one could trade their BTC back then was on Bitcoinmarket.com. So...back in May 2010 all one had to do to buy 10K BTC is to spend $41...Of course nobody knew how things will play out. BTC was the first of its kind and people treated it as something that most likely will die a few months down the road...Virtual money...and people weren't used to virtual goods 11 years ago. Some still aren't used to virtual goods even now, let alone try it like "real money". Of course we all know what happened next...

20210207 20_37_58Pizza for bitcoins_.png

His offer was there for four full days when eventually, he let everyone know that he successfully traded those 10K BTC for pizzas.

"Thanks jercos..." Who is the jerk now?

There are so many examples of how people treated it back then. Here's another one.

Exactly 10 years ago on February 6th 2011, almost a year after the event with the pizzas, a massive Starcraft event was announced and the rewards looked great. You can find more info about it here: https://tl.net/forum/bw-tournaments/190866-aov-iccup-starleague

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$500 to the winner...$250 for the finalist $150 and $100 for third and fourth place respectively and 25 BTC aka about 1 million dollars in today's money for those who ranked 5th - 8th.

I am sure that there must be dozens of stories like the ones above and if you dig on the Internet you'll find one too. But that's history now...

There are 2 things interesting about history though:

  1. That we should learn from it and become wiser.
  2. That it usually repeats itself...maybe in different clothes...but it does...

There was a moment on @theycallmedan's vlog yesterday that stuck in my mind. Something between the lines of; " When I invest in a project I know that I am on "A" but the reason I did it is because I took a step back and saw the potential when I went all the way to "Z"

That's exactly what we are all doing here on Hive isn't it? Isn't it because we all know the potential this blockchain has? Isn't it because we see progress being made, slowly if you will, but to the right direction? Rome wasn't built in a day...

Those guys had no clue what BTC was...because it was an experiment. These text went viral but who can blame them really? The difference between us and them is that we "know" what this blockchain can handle.
I won't lie to you. It pisses me off when I realize that all the effort being made by devs and people who are building for the greater good isn't reflected on the price of the token. 15 cents is a joke...There are hundreds of projects out there with absolutely no use case and almost same token supply as Hive yet their price is 150x. Like UNI token...Apart from its use as a governance token I can't really understand why the fuck people buy it? Just because DeFi is hot right now?

Same goes for the LEO token. They've built a shit ton of tools and a lot more will be launched shortly. Couple that with the fact that it has so small supply and you'll understand why it is still a steal...

Unless of course you're here to farm some rewards and call it a day....

Bottom line is that it won't take long before influencers who keep being banned on centralized social media platforms just because they express their opinions seek for decentralized alternatives...time is coming...

So before you rage quit...before you say enough is enough...before you sell all your tokens because you can't stand it anymore...take a step back and imagine the feeling you'll get when this thing take off and you're not here...

Knowing that you used to hold a serious amount of tokens that could change your life for the better...which you traded for pennies...

These guys a decade ago didn't know what the future holds...but you do.

Have a good one people.
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Cheers.

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What a time to be alive.

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interesting times indeed...

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Most expensive pizzas EVA!

Posted Using LeoFinance Beta

Like UNI token...Apart from its use as a governance token I can't really understand why the fuck people buy it? Just because DeFi is hot right now?

That's me :))

Same thing a friend of mine was saying about DOGE a while back and look who's turning people into millionaires over night.

I wonder how many of the 5th to 8th place in that StarCraft still hold their BTC...

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This is how I find closure when speculating for the future and being present:

If this blows up what's the last amount you want to hold?

For Leo/hive my threshold is 1000 units. That's my safety net.

When I do sell my token it is never because of price (I think that's very myopic). If I sell it is because I need to for basic things. Thus, it is a primary goal of mine to get to a level where I don't need to sell.

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Encouraging words, we do think, enough is enough, and sell future dollars in pennies, these types of words remind us the history of blockchains and cryptocurrencies.

15 cents is a joke...There are hundreds of projects out there with absolutely no use case and almost same token supply as Hive yet their price is 150x.

I couldn't agree more.

Leofinance is one of the superstars of the Hive blockchain, other than these superstars there are many shining stars on the chain, and yet.

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There will be a day where you'll have flashbacks from these days and you'll be happy for sticking around when everything seemed like falling apart

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Agreed.

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Community ✔
Tech ✔
Decentralization ✔
Development ✔
Security ✔
Speed ✔
Accessibility ✔
Usability ✔
Applicability ✔

All these and more has Hive, a lot of chains in the top ranks will die to have even 50% of this.

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This makes me feel better about the fact that I dumped 235k DOGE in 2015. :D

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How time changes everything. The people who won 25BTC would have been so frustrated receiving some "worthless" futureless tokens and probably discarded them, How do they feel now?

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Like UNI token...Apart from its use as a governance token I can't really understand why the fuck people buy it? Just because DeFi is hot right now?

Uniswap does around $1 billion in daily volume on the platform. With the 0.3% trading fee that means people are spending roughly $3 million every day on fees just to use that platform. While this money doesn't currently go to UNI token holders, it will likely start to in the future as UNI holders vote what to do with fees. Many defi governance tokens are similar. There are a lot of tokens that have no good reason for their high valuations, but I don't think UNI and the other popular defi tokens fall into that category. There is a LOT of money going through those platforms and generating fees and that is likely to grow significantly in the future.

Fair points. However...

While this money doesn't currently go to UNI token holders,

So for the time being it's purely speculation that drives price up?

it will likely start to in the future as UNI holders vote what to do with fees.

Or it might not(?)

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Or it might not(?)

Well that is up to the UNI token holders to decide. The whole point is that the UNI token holders control the project which generates ~$3 million in daily fees and growing. So there is clearly a lot of actual value behind that token.

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i need to dig more into this. I have no clues who makes the proposals...or if it is a stake based procedure etc...but the truth is that DEXs are probably the future. That being said I have a feeling that you do hold some... :P

Gonna grab some myself too...worst case scenario, a new Sushi pops up and UNI's price goes to hell

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Heh, no, unfortunately I do not hold any UNI tokens, and I didn't even receive the airdrop! I am not a good trader or token picker so except for a few rare cases I only put money into BTC and ETH. RUNE was one of the rare exceptions where I put some in because everyone was making such a big fuss about it here and so far that has worked out pretty well!

Anyway, the point I was trying to make was only that there is a lot of real actual underlying value behind many of the defi tokens including UNI. They have an actual product that people are paying significant amounts of money to use. This is VERY different from the 2017/2018 bull run and ICO craze. I have no idea if the token is a good investment or not, so please don't take these comments as an endorsement to buy it.

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Meh no worries bud. I don't take it as endorsement to buy it. I mean even if I wanted to buy it big chunks like I did in the past now I simply can't "P

2020 was a complete disaster...so I am only playing around right now...Had to sell 90%+ of my holdings just before BTC crossed its previous ATH...what a timing eh? :)

I'll try to build my mini empire slowly again

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Yea I've been reading your posts and was really sorry to hear about the crap that happened over the past year with your business. Hopefully your HIVE/LEO earnings help a little bit, and I hope that one day your bags of both of those coins will be worth a fortune!

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There are hundreds of projects out there with absolutely no use case and almost same token supply as Hive yet their price is 150x.

Completely agree with you and that's why I've never done a power down on Hive.
Hive is very useful and allows me to do so many things: play, publish, interact with other people of different nationalities, create a community or a token, pay 0 fee for transactions...
The more I look around, the more I realize how unique Hive is.

Beautiful article that I read with great pleasure

!BEER
!WINE

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damn, they would have been millionaires by now..

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Hive and LEO are keepers, definitely. I stake them and keep them for the next 5 years at least, to see where the trip is going. It might be that this two projects will help me retire and give me the much wanted time to spend with my wife and kid.

All needs to be seen in perspective and on a bigger timeframe, that is for sure.

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