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The 10,000 Bitcoin Pizza Day

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Yesterday, we celebrated the 10th anniversary of the first real usage of Bitcoins as a payment.

On May 22th 2010, a programmer Laszlo Hanyecz purchased two pizzas for 10,000 Bitcoins, that were worth only around 30$ at that time. He asked for two pizzas delivered to his house in exchange for 10,000 BTC as a payment. At that time, no stores were still originally accepting Bitcoin as a payment method. Nowadays, these Bitcoins are worth almost 92 million dollars.
This confirms how strong and powerful Bitcoin's usage actually is. If he wouldn't have made this puchase, Bitcoin might not be that popular today.

https://roklen24.cz/img/5ec7d0aaffd8581614f2aa88/671/400?_sig=XXUUG0dp0_cj9QKVXCvKXxc3Af2Mo1de6RDeaY3I7ms
Image source: https://roklen24.cz/
BT thead: https://bitcointalk.org/index.php?topic=137.0

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This is a good guide for using bitcoin to buy since then although it is sad that its owner loses all this amount in exchange for buying pizza

If he had known that the price of bitcoin would rise to this amount, he would not have lost all of this amount and would have kept it and made up for it.

Edited by Zaino34

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I feel sorry for that guy. A person holding 10k bitcoins will be a billionaire now. But he spent it and actually no one knew that it will turn like this. Maybe the person might also think about his gestures that he did with his bitcoins. But maybe it seems that the world is evolving and we should also depend on having patience. Because crypto world can change anyone's life. 

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I have heard and read a lot about this person and as you mentioned that the purchase of a piece of pizza was the first purchase made through cryptocurrencies and that this method of purchase was in the interest of the pizza seller as he managed to achieve thousands of dollars through a piece of pizza and no one expected this thing to happen

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I think that this person, if he were alive to this day, he is certainly sad because he did not know the importance of the currencies he owns, yet we are proud of this rise and development of bitcoin over the long years and the matter makes us more confident that it is a real and supportive economy


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4 hours ago, Brand1 said:

I have heard and read a lot about this person and as you mentioned that the purchase of a piece of pizza was the first purchase made through cryptocurrencies and that this method of purchase was in the interest of the pizza seller as he managed to achieve thousands of dollars through a piece of pizza and no one expected this thing to happen

I'm not sure if the pizza seller kept his Bitcoins until today, as there isn't any mention about who sold the pizzas to him. But if they do, they're rich today. Just for ordering Laszlo two pizzas.

4 hours ago, magd said:

I think that this person, if he were alive to this day, he is certainly sad because he did not know the importance of the currencies he owns, yet we are proud of this rise and development of bitcoin over the long years and the matter makes us more confident that it is a real and supportive economy

He definetly is still alive. He later confirmed that he's aware of what a "loss" it was to spend that many Bitcoins on two pizzas, but he's at least proud for being the first person to use bitcoins as a payment. He still earned a few good bitcoins from the donation address he posted in his Bitcointalk signature, which he's able to use nowadays.

2 hours ago, deboprotap said:

That is really very interesting fact.Just think if he do not purchase the pizza and hold that big amount of bitcoin,then surely he can be one rich person according recent bitcoin price.But I also think this transaction was first bitcoin social transaction.So this transaction was important for growth of crypto market.

You know, at that time, 10 000 Bitcoins were only worth 30$ at that time. He couldn't predict, or even guess, how expensive Bitcoins could be later in the future.

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2 hours ago, Sentry said:

We couldn't really know what will happen to the future eh? That guy who bought pizza with 10,000 Bitcoins must have hated himself. He could have millions of dollars right now and might be off to some paradise just chilling, but no. He chose to use 10,000 Bitcoins to purchase to pizza.

Laszlo decided to purchase the pizzas in the year 2010 and at the moment when he purchased the pizzas, ten thousand bitcoins were worth 40$. At that time, it wasn't a loss for him, but if he would've kept his Bitcoins until today, and sold them now, he would be a millionaire..

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Somehow people think that it was a disaster and a bad call to sell them. It was just redistribution, and very necessarily for the growth. Every time people will use their bitcoins, someone else will gain them. Causing more adoption and some of them hopefully fall to new users. Probably no one of us would have done a better job by holding on to their coins. I know that because most of us weren't buying bitcoins then and most of us are not buying now either because it's "expensive".

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On 5/25/2020 at 6:34 PM, rekter said:

 I know that because most of us weren't buying bitcoins then and most of us are not buying now either because it's "expensive".

There were people saying Bitcoin was a bubble at $10! Of course most that were involved back then knew that Bitcoin had real potential and many understood that with massive waves of adoption there was potential for way more. But noone could actually know that it was going to reach $10,000. I remember even in the beginning of 2017 the youtuber that brought me into Bitcoin (Chris Dunn) was saying that $10,000 is out of the question and wasn't going to happen. Still it did, and basically everyone was left with our mouth open the first time we crossed this milestone.

Edited by BTC Future

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Well it's the best lesson for everyone in the Crypto field to keep patience and hold the coin as maximum amount for more profit. And if he hadn't sold his btc for pizza at that time now he would be enjoying his millionaire life now.


NOTHING I SAY IS FINANCIAL ADVICE. YOU SHOULD USE YOUR MIND ,FOR YOUR MONEY,

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Wow that day who's know that 10000 bitcoin price is now in millions USD value only only one btc value is 9600$ it means everything is possible in crypto market. So don't under estimate the potential of crypto market. If you want investment in crypto market then know the volatility of btc and altcoins .

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2010 peoples not believe in crypto currency its bitcoin evaluation period, peoples just start investing in bitcoin, so the person who buys 2 pizzas  to pay 10000 bitcoins its really amazing, because that time also peoples except bitcoins, but I think the person present feels so sad for their stupid decision.


 

   

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When late comers of the Cryptocurrencies space kind of see this type of story about the pizza scenario,as this kind of brings on the realisation on why bitcoin as a money storage is one of the best storage to keep your funds if your actually looking as a holder of bitcoin on a long run

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It deserves celebration just like the halving. It was rumoured to be the first trade in bitcoin so it will was very essential, although Laszlo might regret trading such amount of bitcoin talking look at the values now it was a massive development in just 10 years. This is the evidence we might see a better than gold market in the next few years.


My Altcointalks username —° Raqeebzy

 

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17 hours ago, Raqeebzy said:

It deserves celebration just like the halving. It was rumoured to be the first trade in bitcoin so it will was very essential,

It was no a rumor and the day is very important because it was the first bitcoin open trade in 2010 when bitcoin was nothing at all. 

 

17 hours ago, Raqeebzy said:

although Laszlo might regret trading such amount of bitcoin talking look at the values now it was a massive development in just 10 years.

According to the latest interview, he said he did not regret at all. 

17 hours ago, Raqeebzy said:

This is the evidence we might see a better than gold market in the next few years.

It is not about bitcoin having more marketcap than gold because gold worth's trillions of dollars. But we can gain a lot from its price fluctuations. 

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1 hour ago, Yomose said:

According to the latest interview, he said he did not regret at all. 

Let's say he doesn't. I still believed he would have hoped to have them till now, it would have been a lot better, he is a human being after all. I also read more about it and I confirmed it was the first open trade. Thanks.

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My Altcointalks username —° Raqeebzy

 

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5 hours ago, Raqeebzy said:

Let's say he doesn't. I still believed he would have hoped to have them till now, it would have been a lot better, he is a human being after all. I also read more about it and I confirmed it was the first open trade. Thanks.

Yes, he said that he's completely okay with the trade, even though nowadays those Bitcoins are worth millions. Without him, Bitcoin might not be that popular nowadays. He helped to spread cryptocurrencies thanks to his purchase.

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14 hours ago, AkaCrafterCZ said:

Yes, he said that he's completely okay with the trade, even though nowadays those Bitcoins are worth millions. Without him, Bitcoin might not be that popular nowadays. He helped to spread cryptocurrencies thanks to his purchase.

@AkaCrafterCZ you are very right, bitcoin may not have been popular, it makes the man's name to always be remembered as the bitcoin pizza day is memorable. 

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Sure that pizza purchase with bitcoin was the first payment made with crypto and I believe it also helped to make bitcoin popular and to be accepted as a payment by many businesses around thus pushing the price to where we are today though it could have made the guy a billionaire today if he new the price will reach this far.

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10,000 BTC was indeed a vast amount of money today, and even if on hindsight it was indeed a waste, we can't help but applaud at him being the first(?) to actually demonstrate the possibility of using BTC for transacting in exchange for material goods. Far from regretting that transaction, he should be proud that his name will go down to the history books for that milestone.

 

Who knows, maybe someday in the future we'll be beating ourselves in the head if the price of a mere 1000 sats (the amount this forum pays per post) becomes worth a hundred dollars or more. If today there are some people who have used crypto to buy goods and other commodities (maybe other than pizza) and didn't bother hodling some savings, and in the future this has indeed become the case, they might realize they were just in the same predicament as Laszlo Hanyecz has been. Then they wouldn't be laughing at him for 'wasting' BTC like they think he did.

 

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New to the Cryptotalk forum? Here's something that might help you get started:

https://cryptotalk.org/topic/24401-forum-tutorials-tips-and-tricks-for-newbies-compilation/

 

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I can just imagine now how much  amounts should cost to buy 10,000 BTC now ! Anyway, that was a first practice to buy anythings by using cryptocurrency which was originally BTC itself. Now we can see so many swag stores which accept BTC as a payment option. 


 

 

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10 hours ago, Whited35 said:

I can just imagine now how much  amounts should cost to buy 10,000 BTC now ! Anyway, that was a first practice to buy anythings by using cryptocurrency which was originally BTC itself. Now we can see so many swag stores which accept BTC as a payment option. 

As of the time in 2010, bitcoin worths as low as $0.003 and many amount of bitcoin was used. The main that bought the pizza was interviewed and said he even used over 500000 btc to buy pizza. That is a great amount of dollar this day. 

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Now it's looks strange that how he pay 10000 bitcoin for just two pizzas. But now he was thinking that he should not eat pizza for that day and he will millionaire in these days. 

And i think bitcoin will go up more. 

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Certainly, this programmer feels very sad because he paid 10,000 Bitcoins equivalent to $ 100 million for pizza at the present time !!  This indicates how important Bitcoin is, as it develops every day and increases in value dramatically in the crypto world 

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On 5/23/2020 at 11:04 AM, Zaino34 said:

This is a good guide for using bitcoin to buy since then although it is sad that its owner loses all this amount in exchange for buying pizza

If he had known that the price of bitcoin would rise to this amount, he would not have lost all of this amount and would have kept it and made up for it.

The guy did not lose everything to pizza, cointelegraph interviewed the guy recently this year, he claimed to mined over 100,000 bitcoin at the time, he said he used half of it to buy pizza and the remaining half for other things. I believe the guy is still very well in money with other projects he would have been among to develop. 

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If the pair rises, it will encounter resistance at levels 1.2760, 1.2800-1.2820, 1.2885-1.2900.   No significant economic statistics are scheduled to be released in the UK next week.   USD/JPY: A Very Calm Week     The past week was surprisingly calm for the yen. USD/JPY moved within a super-narrow sideways channel of 156.60-157.00 for the first half of the week, but then, amid US data and Japanese macro statistics, the trading range expanded slightly to 156.36-157.70. Compared to the price swings at the end of April and early May, it's hard to believe this is the same currency pair. Interestingly, Japanese financial authorities have not officially confirmed whether they conducted intensive yen purchases on 29 April and 1 May to support its exchange rate. However, Bloomberg reports that comparing deposits at the Bank of Japan suggests that around ¥9.4 trillion ($60 billion) might have been spent on these currency interventions, a new monthly record for such financial operations.   However, if this $60 billion helped, it was only slightly – the dollar has already recovered half of its losses. Since interest rates in the US and Europe have not yet decreased, and the yen rate remains extremely low at 0.1%, officials from the Ministry of Finance and the Bank of Japan (BoJ) are trying to buy time until this gap starts to narrow. Comments from BoJ board member Seiji Adachi, who stated on 30 May that the Japanese central bank leaders could raise the interest rate, provided some support for the yen. However, the question of when this might happen remains open, and officials are reluctant to answer. In his traditional speech on Friday, 31 May, Japan's Minister of Finance, Shunichi Suzuki, reiterated that exchange rates should reflect fundamental indicators and that he would respond appropriately to excessive movements.   On Friday, 31 May, a block of important macroeconomic statistics on the state of the Japanese economy was released. The Consumer Price Index (CPI) in Tokyo showed that inflation rose to 2.2% y/y in May. In April, this figure was at 1.8%, matching a 26-month low. Core inflation in Tokyo also rose to 1.9% from 1.6% y/y, and the CPI excluding volatile food and energy prices increased from 1.8% to 2.2% y/y. (It should be noted that inflation in Tokyo is usually higher than the nationwide figures, which are published three weeks later. Therefore, the Tokyo CPI is a preliminary but not final indicator of inflation dynamics at the national level.)   The current rise in inflation could increase confidence in future BoJ monetary policy tightening. However, the fear of low inflation and a sharp yen appreciation deters the BoJ from raising the interest rate and narrowing the gap with other major global currencies' rates. A strong yen would harm national exporters. The decline in industrial production, which fell by -0.1% in April both month-on-month and year-on-year, does not encourage borrowing costs to rise.   The last note of the week for USD/JPY was struck at 157.25. United Overseas Bank (UOB) analysts believe that in the next 1-3 weeks, "the dollar has the potential for growth, but given the weak upward momentum, any advancement is likely to be slow. The 157.50 level might be difficult to overcome, and resistance at 158.00 is unlikely to be reached in the near future."   Speaking of the average forecast of experts, only 20% indicate a southward direction, while the remaining 80% adopt a neutral position and look east. Technical analysis tools show no such doubts or disagreements. Thus, 100% of trend indicators and oscillators on D1 point north, with 15% already in the overbought zone. It should be noted that if the green/north color of the indicators for the euro and the British pound indicates their strengthening, in the case of the yen, it conversely indicates its weakening. Therefore, traders may find it interesting to pay attention to the EUR/JPY and GBP/JPY pairs, whose dynamics have been impressive lately. The nearest support level is in the area of 156.25-156.60, followed by zones and levels at 155.50-155.90, 153.10-153.60, 151.85-152.35, 150.80-151.00, 149.70-150.00, 148.40, 147.30-147.60, 146.50. The nearest resistance is in the 157.40 zone, followed by 157.70-158.00, 158.60, and 160.00-160.20.   No significant events or publications regarding the state of the Japanese economy are expected next week. CRYPTOCURRENCIES: Bullish and Bearish Ethereum Prospects   For the second week, market participants' attention has been focused on the main altcoin. On 23 May, the US Securities and Exchange Commission (SEC) approved 19b-4 applications from eight issuers of spot exchange-traded funds based on Ethereum. (According to JP Morgan experts, this was dictated not by a desire to support digital assets but by a political decision aimed at supporting Joe Biden ahead of the US presidential elections.) Whatever the true reason for this regulatory move, everyone is now interested in where Ethereum prices will go. The newborn ETH-ETFs can only start trading after the SEC approves the S-1 applications. According to Bloomberg analyst James Seyffart, this could take "weeks or months," although it is very likely to happen in mid-June. According to DeFiance Capital CEO Arthur Cheong, Ethereum's price could rise to $4,500 even before trading begins. CCData analysts believe that within 100 days of the launch of ETH-ETFs, the price could reach $5,000 per coin. This forecast is based on linear regression and the price statistics of bitcoin after the launch of spot BTC-ETFs. CCData's analysis assumes that inflows into similar Ethereum funds will be at least 50% of inflows into Bitcoin-ETFs, which means about $3.9 billion over a 100-day period.   Popular analyst Lark Davis has forecasted future growth for bitcoin to $150,000 and Ethereum to $15,000, explaining such a sharp price increase by the emerging market dynamics. The main reason for growth, Davis also cites spot BTC-ETFs, to which ETH-ETFs will now join. This will further fuel the cryptocurrency market's enthusiasm. Currently, spot BTC-ETFs hold 1,002,343 coins (≈ $68 billion), which is about 5% of the circulating supply of the flagship asset. Davis believes this impressive figure clearly indicates growing recognition of cryptocurrency and interest from institutional investors, especially from the US.   Strike CEO Jack Mallers predicts that during the ongoing bull rally, bitcoin could reach $250,000 and possibly rise in price to $1 million. On a podcast with Pomp Investments founder Anthony Pompliano, Mallers explained his bold forecast by stating that bitcoin is still at an early stage of development. According to him, the bond market is currently facing problems, so central banks may inject a significant amount of liquidity into the financial system to stabilize it. This liquidity influx will trigger an increase in the value of risky assets, including the leading cryptocurrency.   Jack Mallers disagrees with the notion that bitcoin is a bubble or a tool for speculation. The asset is becoming increasingly popular among financial giants on Wall Street, and its limited supply of 21 million coins makes BTC highly resistant to inflation, unlike fiat currencies and gold. "Bitcoin can be called the hardest form of money – thanks to the fixed issuance schedule and halvings every four years. The release rate of new coins gradually decreases, thereby increasing bitcoin's long-term value," argued the Strike CEO.   Analysts from financial investment company Motley Fool also target a six-figure number. They suggested that bitcoin's rate could rise to $400,000 and possibly even reach $1 million. The reason, which has been mentioned many times, is the influx of money from institutional investors through spot ETFs. Motley Fool analysts noted that more and more pension funds and hedge funds, managing multi-billion dollar sums, are entering the bitcoin market. Thanks to cryptocurrency ETFs, they can easily include bitcoin (and soon Ethereum) in their investment portfolios.   According to analysts, around 700 investment companies have already invested in such funds. Nevertheless, the share of institutional investors in bitcoin-ETFs is currently only about 10% of the total. Motley Fool estimates that if financial institutions invest about 5% of their assets in bitcoin, the market capitalization of the first cryptocurrency could exceed $7 trillion, which explains its forecasted rate of $400,000.   Considerably less optimism was heard in the forecast of Bloomberg senior analyst Mike McGlone. According to him, bitcoin's volatility leaves it trailing gold and the US dollar in investment appeal. Furthermore, he believes that stocks will soon crash amid the expected recession, but BTC will suffer even more than the stock market. McGlone emphasized that the Tether (USDT) stablecoin, pegged to the US dollar, typically trades twice as much per day as bitcoin. "I can access the US dollar anywhere in the world from my phone using Tether. Tether is the number one trading token. It's the number one cryptocurrency for trading. It's the dollar. The whole world has moved to the dollar. Why? Because it's the least bad of all fiat currencies," the Bloomberg expert stated.   While Mike McGlone merely downgraded bitcoin's attractiveness, Cardano founder Charles Hoskinson simply buried it. He equated bitcoin to a religion and stated that the industry has outgrown its dependence on it. According to Hoskinson, "the industry no longer needs bitcoin to survive." He pointed out critical threats to the leading cryptocurrency, including insufficient adaptability and dependence on the Proof-of-Work algorithm. Franklin Templeton analysts, on the contrary, consider L2 protocols, along with Ordinals, Runes, and DeFi primitives, as one of the main drivers of bitcoin's innovation revival. Strike CEO Jack Mallers defended the first cryptocurrency. According to him, the Lightning Network, created for instant and cheap transactions, a second-layer solution based on the BTC blockchain, can further increase the demand for the first cryptocurrency. Mallers believes that thanks to this, bitcoin can be used for everyday purchases, such as paying for a cup of coffee. Former BitMEX CEO Arthur Hayes called the native token of the Cardano blockchain (ADA) "dog shit" due to its low use in protocols.   As of the time of writing this review on the evening of Friday, 31 May, ADA is trading at 0.45 USD per coin, while bitcoin and Ethereum are faring significantly better: BTC/USD is trading at $67,600, and ETH/USD at $3,790. The total cryptocurrency market capitalization is $2.53 trillion ($2.55 trillion a week ago). The Bitcoin Fear & Greed Index remained almost unchanged over 7 days, staying in the Greed zone at 73 points (74 a week ago).   It should be noted that ETH/USD failed to break through the $4,000 resistance this past week. The local maximum was recorded on Monday, 27 May, at $3,974. The lack of an immediate pump is explained by the fact that everyone who wanted to buy Ethereum in anticipation of the SEC's historic decision already did so. Meanwhile, according to some analysts, there is a high probability that immediately after the launch of the long-awaited spot exchange funds, Ethereum will enter a deep drawdown, similar to what happened in January with bitcoin. Then, over 12 days, it fell by 21%.   One of the key reasons for BTC's drawdown at that time was the unlocking of GBTC fund assets from Grayscale, which was converted into a spot fund from a trust. It began losing investments daily at a rate of $500 million. It is possible that something similar could happen with Ethereum, where Grayscale's ETHE fund holds $11 billion worth of ETH. As soon as this fund is converted into a spot fund and its assets are unlocked, short-term investors might start taking profits, potentially causing ETH/USD to fall to the strong support zone of $2,900-3,200. Pessimists among bearish factors also cite the uncertain legal status of the altcoin, as the SEC has not yet clearly defined whether ETH is a commodity or a security. Additionally, the regulator has many complaints about the staking program.   Staking is a way to earn cryptocurrency by "locking" a certain amount of coins in a wallet on the Proof of Stake (PoS) algorithm to support the network. In return, the user receives rewards in the form of additional coins. According to Wall Street legend Peter Brandt, "the biggest disasters in the cryptocurrency sphere that are yet to happen will be related to staking." The expert noted that such assets as Ethereum are often rented out to earn such income, often in the form of interest, which strongly reminds him of collapsed financial pyramids. As staking becomes more widespread, Brandt warned, it could attract increased attention from central banks, treasuries, and other authorities. This could lead to tighter regulation, significantly altering the crypto space and potentially resulting in the cessation of staking and bankruptcies for those involved. NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
    • Даа, кроме нас на форуме остались рекламщики обменников и все). А у вас было монета not, он очень хорошо вырос. Надо было покупать сразу после листинга. Даа, упускаем моменты). Биткоин продолжает коррекцию делать, а я купил какие то щитки и вынужден ждать. 
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