We are only a few days away from 'Bitcoin Pizza Day', the holiday that takes place on May 22nd of every year to celebrate the first ever Bitcoin transaction that took place 11 years ago on May 22, 2010 when Laszlo Hanyecz purchased two pizzas for 10,000 Bitcoin. Interestingly, everybody likes to insult Laszlo but nobody ever talks about the pizza shop owner and if he HODL'd his 10,000 Bitcoin, which would today be worth $400 million.
In a pathetic publicity stunt, Bitcoin's most cringeworthy maximalist Anthony Pompliano (loved by CNBC and the MSM), announced today that he is opening a nationwide chain of pizza restaurants called Bitcoin Pizza. The problem is, Bitcoin Pizza doesn't accept Bitcoin as a payment method because the Bitcoin transaction fee would cost more than the actual pizza!
Pompliano's announcement has been the most epic fail in Bitcoin history with most MSM headlines this evening focusing in on the uselessness of Bitcoin! Pompliano has placed a spotlight on the fact that Bitcoin itself has not only seen zero technological innovation in 11 years, but Bitcoin has actually regressed to become less useful today than it was 11 years ago! The primary reason for Bitcoin's value is the Tether Ponzi Scheme, which has printed $58 billion in "USDT" aka Tether Tokens, which is what most Cryptocurrencies are actually priced and traded in! A few days ago, Tether itself admitted that less than 3% of its reserves are in the form of cash... with the rest of its reserves being mostly "commercial paper" aka unsecured IOUs from shady Crypto exchanges with no banking access!
If Pompliano wasn't a Bitcoin Maximalist he would accept payment for his pizza in Bitcoin Cash, which is much more similar to what Bitcoin was 11 years ago when it was actually possible to use it to pay for pizza! When NIA officially suggested Bitcoin Cash on March 22nd at $530, Bitcoin was trading for $57,000. From March 22nd through today, Bitcoin Cash has gained by 91.13% to $1,013 vs. Bitcoin declining by 28.6% to $40,700! The Bitcoin Cash/Bitcoin ratio has increased from 0.0093 on March 22nd up to 0.0249 today, which is exactly what NIA predicted!