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Early adoption · 2010
The pizza coins
Nobody knew the ending.
In 2010, 10,000 bitcoin were exchanged for two pizzas. The recipient spent the coins long before later price increases.
- The choice
- Whether to buy, use, hold or sell an asset.
- The circumstances
- An uncertain future market moves in ways participants did not know.
- A different position
- A later hypothetical value is not a return someone actually received.