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Bitcoin and the "luxury" Pizza

The booming season of Bitcoin has arrived, Bitcoin has reached a new record high, 1 BTC has surpassed 80,000 USD, becoming hot news for every media outlet and the gossip of everyone. It didn't take much time for newcomers and new capital to flood into this market.

Now with 1 Bitcoin you can buy a house, exchange for a luxury car... But in the early days, someone spent 10,000 BTC to buy 2 pizzas, meaning that if assessed at the current value, 1 pizza is worth more than 200,000,000 USD!

On May 22, 2010, Mr. Laszlo Hanyecz living in Florida posted on Bitcointalk about wanting to exchange 10,000 BTC for 2 pizzas. Shortly after, someone accepted and ordered him 2 Papa John's pizzas. But at that time, 10,000 Bitcoin was worth about 41 USD. Not long after, Bitcoin skyrocketed, news about Bitcoin and the new technology - Blockchain exploded in the United States, and the exchange event of Laszlo Hanyecz became a legend in the development history of Bitcoin - Bitcoin Pizza day.
Exchanges, trading, and commerce are essential for the currency to develop. Or to be more precise, it is the community that uses that currency. The purchase of those 2 pizzas only cost about 25 USD, so the pizza seller made a profit, Laszlo Hanyecz got what he needed, everyone was happy. No one could predict that Bitcoin would grow, the future is always a mystery. Bitcoin = 80000 USD, Bitcoin = 1 million USD... or Bitcoin = 1 USD. Anything could happen.
But currently, 1 Bitcoin = $BTC

Author: Kahan Nguyen

$ETH and $SOL
Long Tiger vs. Dragon - Part 5
Spring "Green" ..
Solana continuously reaches peaks; information and articles related to the keyword #sol flood the internet. It seems that all eyes are on this super unicorn. The color "Green" covers the price chart of
The water rises along with the weeds; projects built on this blockchain also benefit. Whatever Ethereum has, there is something similar on Solana. Solana is expected to replace Ethereum's position, hence projects on Solana are also expected to take over similar positions (especially DeFi and NFT projects)
Solana and its system are trending - A channel for investment that is the easiest to "cash in" at that time for both investors and project creators. Just invest and profit, every token, NFT... sells out. Buying and selling are vibrant, optimism is everywhere... The dream of becoming a Crypto millionaire no longer seems distant, then suddenly the color "Red" appears

Spring "green" passes, Winter "red" arrives
Since reaching its peak of 260 USD (Nov 2021), the price of $SOL plummeted to 9.3 USD (Dec 2022). This means a 96% drop in value after a year, causing the blood pressure of many investors to fluctuate... Is Solana a scam? Does Solana's system have issues? Or did the founder team say something inappropriate?... No! Solana's system is not facing any major issues. A few instances of transaction halts or some projects built on Solana being attacked by DDoS hackers are common in this Crypto market, so that can't be the reason. If we talk about the cause, we must mention the event concerning the founder of the FTX exchange - Sam Bankman-Fried..

NFT by artist @Fu5nu depicting the event Sol - SOL2122

BITCOIN, THE "HUI PLAY" OF THE NEW GENERATION.

It sounds ridiculous, but these two forms have strangely common points.

*Note: The article contains folk languages.

Hui play (hội, huội, biêu, phường, huê) is often referred to as hui play. It is a form of capital mobilization in Vietnamese folklore and is usually conducted by women.
When participating in hui, there must be a person who acts as the owner (hui owner) and invites other members to join (hui participants). The hui owner is responsible for collecting the money (assets) from the hui participants. A "hui chain" can have an unlimited number of players. Members of the hui chain agree to contribute a type of valuable asset for transactions such as: money, gold, rice, etc. The hui chain also agrees on the quantity of assets contributed, the number of contributions, the contribution time, the hui opening period...(the hui owner will receive a commission for conducting transactions for the hui participants)
Hui play is similar to a savings jar but allows hui participants to receive the total amount they intend to save more quickly. Once they receive the hui money, that person reverts to a repayment form.

The Bitcoin system is like the "hui owner" helping to store the assets that the players (hui participants) contribute in exchange for certificates of assets - which are the $BTC .
The difference is that Bitcoin participants do not need to know each other or be familiar to participate, unlike hui play, while still ensuring the safety of assets. And there is no fixed day for "opening hui". Bitcoin "hui participants" can "open hui" anytime they want. The earlier you participate or when the price is low, the more profitable the hui opening, while participating late or buying when the price is higher than the current price results in a smaller hui opening (loss)..

$ETH and $SOL
Long tranh ho dau - Part 4

Ethereum has EVM, Solana has SVM - Solana Virtual Machine

Ignoring the academic factors to explain simply, EVM has 1 head and 1 arm, SVM has 3 heads and 6 arms. All data is streamed and processed simultaneously, in parallel. Making the most of the hardware of the nodes and optimizing the data makes everything running on SVM reach incredible speeds, creating a smooth feeling when using the services on it.

Fast, cheap and extremely safe. Thanks to the optimization and the construction of a smart algorithm structure. The cost of transactions on Solana Blockchain applications is surprisingly low. I used a DEX exchange named Jupiter with the code $JUP (similar to Uniswap) and an electronic wallet named Phantom. The average transaction fee I have to pay is 0.08 usd (200 vnd) and when transferring money is only 0.0008 usd (2 vnd), the speed is almost instant.

This opens up an opportunity for anyone to access and use. Transactions on Solana are booming and extremely vibrant. Especially Nft and Meme coins... Anyone can mint their own NFT, meme coin. In just a few short years, there have been more than 340 million NFTs recorded on the system, more than 300 billion successful transactions... You can find meme coins with a market cap of about 10 million usd in the system, countless...

With its superiority, Solana's base coin grew strongly in the first 2 quarters of the year. From a starting price of 0.5 USD (May 11, 2020) to 259.96 USD (November 06, 2021). That means an increase of more than 500 times after 1 and a half years of operation...

$ETH và $SOL

Long tranh ho dau - Part 3

Ethereum and its widespread influence in the Crypto market
You may be trading a lot of coins, NFTs, using wallets and exchanges, DEXs... on many different blockchains. But you still pay a fee to Ethereum.

To understand that, you need to know about EVM - Ethereum Virtual Machine. It is a computer but not a specific computer, it is operated by many computers or network nodes participating in the Ethereum network (like the bitcoin mining rigs you know). EVM is a decentralized supercomputer.

The task of EVM is to execute and process initialized smart contracts. For example, when you deposit money, buy Nft, swap coins on DEX exchanges, play Nft Games... that is, you are creating smart contracts, then EVM is the one who completes it for you safely and accurately. Then you need to pay EVM a fee (gas) in the base currency Ether.
You can only pay EVM with Ether; For example, if you trade on Uniswap, you may not need $UNI but you need ETH to make the transaction.. EVM works and earns money back to the parent currency Ether..

Called Ethereum virtual computer, but EVM not only operates on the Ethereum network but also on many other blockchain networks (Polygon, Arbitrum, Avalanche). So EVM appears everywhere, in every corner of many different networks. As long as the network, the application is compatible with EVM, cross-chain operations become easier, like a magic thread connecting everything.
EVM really reminds us of the robot supercomputers in science fiction movies.

$ETH and $SOL

Long tranh ho dau - Part 2

Solana is highly regarded by experts, has consumed so much ink from journalists, has such outstanding advantages and achievements, but over the years it has not been able to surpass its elder brother Ethereum, why??

If Bitcoin is the Emperor who created this market. Then Ethereum will be the General who founded the country. Bitcoin's right-hand man.

Ethereum was born in 2013 by a group of elite people and officially started running on July 30, 2015. Famous as the first viable blockchain smart contract created. Allowing decentralized applications, DeFi, Nft.. to be easily created and interact with users. Calling it the first blockchain Smart contract is not entirely correct because on Bitcoin, smart contracts can be created but there will be many limitations, inconveniences and difficulties in widespread application.
The day Ethereum was launched was the day the Cryto market really exploded. A series of coins, new projects were born. There were periods when traders waited in long lines to buy tokens from ICOs to make a profit. A series of unicorn projects built on the Ethereum platform had impressive growth. Typical examples include Optimism, Arbitrum, Polygon, Uniswap, MetisDAO... always in the top 100 coins with the highest capitalization for many years. And countless other large and small applications..
Not only that, Ethereum also plays a key role in the development of NFT. A term that is still unfamiliar to many people...
$UNI

Margin and Future Players
The community is important for the development of Bitcoin.

When mentioning important people for the development of Bitcoin or blockchain technology in general, most people will think of the great founders, CEOs, founders and talented coders.

Right! Not wrong, they are the first people, the creators of this playground, they are extremely important. But imagine, you create a good market but not many visitors, the market scene is gloomy and deserted... a market that is not attractive and easy to die.

The market needs people to buy and sell, bargain enthusiastically.
"Bit coin costs 5 thousand / I don't sell for 60 thousand!! / What's wrong with you? Mrs. Eth sells for 2 thousand but it's better, are you trying to squeeze me / If you like it, go there and buy. I'm different, she's different, my goods are rare..." - That, those are the people who create the appeal of the market. They are extremely important.
Of course, that's just a fun example. The market here will be the exchanges and the most active and generous bidders (in both directions) are margin and futures players. These two ways of playing are betting or borrowing from the exchange. If you guess the price correctly, you win - if you guess the price incorrectly, you "call". But no matter which way, money has started to flow, has started to fluctuate, creating large volume, creating high attention, high attraction... then articles are written about it, people who have not participated yet start to pay attention and participate, investors, creators in other fields also pay attention and invest their efforts to create new things... the loop continues and develops endlessly.
Quang Ba Market is bustling with buyers and sellers.

$ETH and $SOL

Long tranh ho dau - Part 1

ETH and SOL have many similarities.

- Both are leading open-source layer 1 Blockchain platforms, born with the purpose of encouraging the development of decentralized applications (Dapps) and decentralized autonomous organizations (Daos) built on their systems.

Both have extremely large communities of interest in both finance and technology.., perhaps only after Bitcoin.

Because it is a game, competition is inevitable, especially with 2 coins that have so many things in common. But to say that Solana can surpass its veteran brother like Eth is still impossible to say in advance.
SOL and ETH are often put on the scale to compare with many advantages given to Sol, such as high scalability - Blockchain scaling [is the scalability of a blockchain network. Scaling aims to increase the throughput (TPS) of the network, helping the blockchain to meet the increasing transaction demand without reducing security, processing speed or decentralization]. And transaction fees (gas) are much cheaper.
That's true, even Vitalik Buterin (co-founder of Eth) once praised SOL as the blockchain with the highest scalability. These advantages have made the number of successful transactions of Sol reach more than 330 billion after only 4 years of operation. An extremely impressive number !!

But Ethereum has its own advantages that Solana can hardly overcome..

Author: Kahan Nguyen

BTC / USD

October 5, 2009, the first time the value of Bitcoin was fixed on the exchange, starting at 1 US dollar equivalent to 1,309.03 Bitcoin (or 1 Bitcoin = 0.00076 USD) (according to historyofbitcoin.org)

So the US currency began to associate with Bitcoin very early. A cave full of gold opened before their eyes. At that time, who knew that Bitcoin would grow as big as it is today, it could succeed and it could also fail. But there were people who dared to try - dared to take risks. The first participants were like pioneers, they became the "whales" like today, which was completely worthy of them.

But in addition to that, Bitcoin also increased the value of the already strong USD even more.

Money has a basic nature that when it is moved, circulated, it lives and grows; and when it freezes, stands still, it becomes crippled and dies. Money was born to exchange, not to hoard for decoration, it is like the blood of the economy. You spend money to buy shirts - the shirt seller has money to buy food - the food seller has money to buy furniture... and you are the one who sells furniture to them. Everyone in the community can live and develop.
So for 15 years since Usd was linked to Bitcoin in particular and the cryptocurrency system in general. There have been billions of billions of... exchanges between Usd and other digital currencies. The stronger gets stronger, the richer gets richer...
There have been several articles written about countries holding Bitcoin because they fear that Bitcoin will negatively affect their currency.I just laughed..$BTC $USDC

Cat meme coins return to the market.

After years of dominating the coinmaketcap rankings of dog memes, recently cat meme coins have gradually reappeared in high positions.

Cats and dogs are the two animals closest to humans in daily life. Normally, men will like to raise dogs and women will be more interested in cats. Is it true that in the past, more men participated in this market and now the proportion of women coming to this investment market has started to increase ??

In fact, cat meme coins have been around for a long time. The first cat meme coin to emerge was Monacoin #mona .

It is known as a coin from Japan, the image is taken from a character named Mona, expressed in ASCII art - an art form based on 95 basic characters defined by the ASCII code. There are some similarities between Monacoin and Bitcoin: Monacoin's total supply is small (105,120,000 coins), the algorithm used is different but both are POW mechanisms - can be mined and cannot be printed.
This coin is more than 10 years old and has experienced strong increases and decreases. The peak was around 2017 when it was traded at 15 USD and has decreased sharply in the following years until now - currently 0.27 USD. At that time, Monacoin was in the top 100 coins with the highest capitalization, while Dogecoin was the opposite.
There is not much information about the coin and it is traded and known more in the Japanese community.
Currently, Mona is not listed on Binance, as a cat lover like me, I hope Mona will soon be known more along with this cat meme coin wave.

Can Bitcoin lose its position as the top cryptocurrency market?

Of course it is possible, for example, when the community turns its back on it, instead of investing their assets in Bitcoin, they switch to Dogecoin, for example. Then that dog will be the top 1 market. 😅

But it is difficult for that to happen at this time. Although Bitcoin is a slow coin, any coin below can surpass it in transaction speed, to spend Bitcoin for daily purchases is like using gold and precious metals to exchange centuries ago. Even transaction fees are always at the top of the expensive list, recently there have been articles written about it when some people lost several million USD in transaction fees because they set up fast deposits on the Bitcoin system..

But why is it still increasing in price? Why are so many people still mentioning and interested? Why is it still a favorite for the community to choose it as the top category to deposit assets?

Because now Bitcoin has become something iconic, the first digital currency. It is the origin of this game - the game you are participating in (to be more precise, the idea behind Bitcoin is the origin). Bitcoin represents this game and brings it to every corner of the world... Bitcoin is like diamonds and precious stones..
People say Bitcoin is being inflated but I see the opposite, it is still in its early stages, only a few percent of people in the world know and participate. Bitcoin is still very young and has a lot of potential for development

"Which coin can x1000? .. "

An ambitious question. But perhaps that is the question that almost anyone participating in the market asks each other or at least asks themselves..
The answer is: any coin can.. it's just a matter of how long it will take.

Coins x100 or 1000 times is not rare at the beginning of the market. It is even common. Even Bitcoin itself is a coin that has increased in value hundreds of millions of times compared to the time it was first launched. But more and more people are participating and interested in this market, the opportunity is divided equally for everyone, so it is difficult to find such a coin. In addition, scam projects are popping up everywhere and taking advantage of this mentality of players, causing them not only to not be able to buy potential coins but also to lose money.
But in recent years, meme coins have always been the choice of small investors with the opportunity to x1000 times their account. Some typical scams are that the coin has been almost completely taken over by a person or a group of people with the intention of making it scarce, thanks to a few Kols promoting and gradually selling it to gullible investors at a pre-arranged high price. A basic but effective scam. And when all are sold or earned, "Boom !!" the founder team disappears and leaves behind a coin with no liquidity, those who bought cannot sell the coin they are holding and they hold a pile of "blocks" that are now just numbers on their wallets that cannot be spent. It has something in common with a movie I watched called "Wolf of Wall Street" about the stock market...

Bitcoin - The Kingdom of Freedom

When too few people are actually writing about #bitcoin, I want to talk about it.
The articles I have read about bitcoin recently only talk about things like: "How Bitcoin ETF affects the price, or this government or that government banning bitcoin, this influencer saying it will go down, that financial expert saying it will go up.."
It is true that everything in this world is interconnected, but it is unfortunate that bitcoin is influenced by a few individuals or organizations..
Bitcoin was originally created to foster equality and freedom. $BTC was born after financial crises, where the flaws of their monetary regulation had many drawbacks and fraud, where ordinary people were stripped of their wealth without even knowing it when it was exposed, and even if they knew, they were suppressed by that centralized power.
The term "decentralized" has always been mentioned in the early days of Bitcoin. People have the right to decide over their own assets, can send to anyone anywhere in the world without being monitored or stolen from. And this Bitcoin cannot be printed more by anyone, even by the one who created it. Every decision in the system is also voted on by the community of holders of this coin... The game of currency has returned to its primal nature: person-to-person transactions (with additional support from machines)
There are many people holding thousands of bitcoins that they bought in the past for the price of a loaf of bread, so selling them is not difficult for them and they don’t need a reason. The real weight is there.

" Fastest layer 1 coin? "
When I asked ChatGPT, the answer was #Solona

Indeed, at the time of this article, the transaction speed of the Sol network reached more than 3000 TPS, meaning that every 1 second there were more than 3000 successful transaction orders. Meanwhile, Ethereum #eth was 15 - 30 Tps.

That means Sol's transaction speed is 100 to 200 times faster than Eth !!

Although there have been new inventions on Eth's layer 2 to improve speed, to me it's like if you want to trade on eth, you need to go through an intermediary company before you can trade with Eth, but the delay is still there and most of all, the transaction fee is much more expensive than on the Sol platform.

In fact, my experience when transferring money on Sol is really fast, almost immediately when I press the "send" button. Whether sending coins or #nft , it's the same. and the transaction fee will be around 0.0008 - 0.03 USDT depending on the fees of the wallet platforms or the transaction volume.

Solana grew strongly in 2021-2022 when the market realized its potential and power and fell in price when network incidents occurred in 2023. But Eth also has its own incidents, right?

Other layer 1 Blockchains with fast speeds like Aptos, Sui .. are also very fast and great but still not even a fraction of Sol while being advertised as being faster and stronger. But the reality does not show that..

There was a period when Sol was dubbed the "Eth killer" but to me, Sol is simply a transitional stage, an evolution of cryptocurrency to better suit the needs of the community.Bitcoin then Ethereum.. and now Solana
#Visnews

Meme coins

#Dogecoin‬⁩ is probably the most successful coin in terms of value among meme coins to date.
Why is that?
Simply because it's fun, it's cute and people like it.
It doesn't have a vision or mission like other next-generation coins, the only thing it brings is joy and humor.
I remember in 2018 when I first learned about crypto, I read every website of the coins listed on coinmaketcap (about 300 coins), the 2 slogans of Dogecoin were: 1 dogecoin = 1 dogecoin and a short video of a dog riding a rocket to the moon. It's funny and it gives 2 typical facts. Dogecoin is simply dogecoin, money is simply money and its value is decided by the community, Fact 2: Almost all investors in this market, the only thing is whether that coin increases in price 10 or 100 times? Few people care about the value that the company brings..
And another point is that its creator sets the number of dogecoins issued very large (more than 146 billion) so that the value divided on each coin will look cheap, creating a mentality for buyers with little money to be able to invest with a small amount of money in return for a lot of dogecoin..
In addition to dogecoin, at that time there was another meme coin called #monacoin , this coin represents another animal - cats. But it is not as noticeable as dogecoin. Maybe I will write about it in another article..

Bitcoin up and down - Normal as a scale of sugar and milk.
That is something that anyone who has been in this market for a while knows and is not surprising. Or anyone who understands currency will easily know.

If you drag the chart bar on Coinmaketcap to the entire time mark, the increase of BTC is 1 million percent !! Simply because Bitcoin started with a great idea and it entered the game with a valuation of 0 (đ). But its real value is that great initiative - creativity with unlimited freedom and this number is just gradually proving the greatness of that innovation..
For me, it is just funny that now when it goes up 5-10%, there are already billions of rumors about Bitcoin 😸. As for me, I simply use Bitcoin as an asset. When I need to sell, when I have, I buy. Good luck 🍀 - reader #bitcoin #vietnam #vis #viets