Bitcoin Celebrates Its 10th Pizza Day. This Is How $90 Mln Fast Food Purchase Happened

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Fri, 05/22/2020 - 06:07
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Alex Dovbnya
A $90 mln pizza that kick-started Bitcoin's merchant adoption was bought ten years ago
Bitcoin Celebrates Its 10th Pizza Day. This Is How $90 Mln Fast Food Purchase Happened
Cover image via stock.adobe.com

Its May 22, and the cryptocurrency community is busy celebrating the tenth anniversary of the first purchase with crypto that is commonly known as 'Bitcoin Pizza Day.'

Ten years ago, computer programmer Laszlo Hanyecz singlehandedly kick-started Bitcoin's merchant adoption by volunteering to pay a whopping 10,000 BTC ($41 at that time) for two Papa John's pizzas. 

Bitcoin has come a long way since then, with more than 100,000 shops and merchants around the globe.  

Some might acrimoniously say that the 'Bitcoin pizza guy' made the worst investment of all time. If it wasn't for his pang for hunger, Hanyecz could be sitting on a $90 mln fortune at current prices.

In last year's interview with CNN's Anderson Cooper, he said that it's wasn't good for him to focus on his lost crypto riches:  

I think thinking like that is-- is not really good for me.  

On the flip side, Hanyecz did become part of Bitcoin's early history, and he will certainly be celebrated by the crypto community for years to come. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

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Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
Cover image via stock.adobe.com
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)