Right, and the only reason he COULD trade them was because he had amassed a sufficient number that another party took the other side of the trade and also thought holding the 10,000 Bitcoin would be worthwhile - they weren’t being traded to flip because there was no market for that.
Laszlo had stored up the collectibles in surplus - notice the transaction wasn’t 1 Bitcoin, or 20,000 Sats as the case might be today..
The guy who bought the pizzas was willing to hold a large amount of what was still a collectible at the time because he thought he would be able to also trade them on future - that they would hold value over time… A store of value if you will..
Szabo is the one you need to be reading/listening to:
https://fountain.fm/episode/x8tdmijTWRqQwNkwLyL4
stacksatsio / StackSats.IO
npub10j…lvcrd
2024-08-07 22:39:03
in reply to nevent1q…70uz
Author Public Key
npub10jnx6stxk9h4fgtgdqv3hgwx8p4fwe3y73357wykmxm8gz3c3j3sjlvcrdPublished at
2024-08-07 22:39:03Event JSON
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