<figure class="wp-block-image size-large"><img width="325px" height="183px" srcSet="https://d2ly46a6b1u3g6.cloudfront.net/wp-content/uploads/2024/01/08014111/Bitcoin-Pizza-Guy-Liquid-Loans-375x211.webp 375w, https://d2ly46a6b1u3g6.cloudfront.net/wp-content/uploads/2024/01/08014111/Bitcoin-Pizza-Guy-Liquid-Loans-662x372.webp 662w, https://d2ly46a6b1u3g6.cloudfront.net/wp-content/uploads/2024/01/08014111/Bitcoin-Pizza-Guy-Liquid-Loans-768x432.webp 768w, https://d2ly46a6b1u3g6.cloudfront.net/wp-content/uploads/2024/01/08014111/Bitcoin-Pizza-Guy-Liquid-Loans.webp 688w" sizes="(max-width: 425px) 150px, 450px" src="https://ll-blog-dev.s3.ap-southeast-2.amazonaws.com/wp-content/uploads/2024/01/08014111/Bitcoin-Pizza-Guy-Liquid-Loans.webp" alt="Bitcoin Pizza Guy Liquid Loans" class="wp-image-4818"/></figure><p>Bitcoin Pizza Guy could’ve been saved by Liquid Loans.</p><p>Here’s what happened to this poor seller.</p><h2 class="wp-block-heading tablecontet">Who is the Bitcoin Pizza Guy?</h2><p>The &quot;bitcoin pizza guy&quot; refers to Laszlo Hanyecz, a software developer who is known for carrying out the first real-world transaction using bitcoin in 2010. </p><p>On May 22nd of that year, Hanyecz posted on a bitcoin forum that he would pay 10,000 bitcoins to anyone who would order him two pizzas from Papa John&#x27;s. </p><p>At the time, 10,000 bitcoins were worth about $30. </p><p>A user named jercos took Hanyecz up on the offer and ordered him two pizzas in exchange for the 10,000 bitcoins. </p><p>While it seemed like a good deal at the time, those same 10,000 bitcoins are now worth over 400 million based on today&#x27;s bitcoin price. </p><h2 class="wp-block-heading tablecontent">His Problem</h2><p>Hanyecz wanted Pizza.</p><p>He had Bitcoin.</p><p>He did not have a way to extract value from that Bitcoin without losing price exposure. </p><p>He had to sell his BTC at unfortunately low prices.</p><h2 class="wp-block-heading tablecontent">Problem Solved</h2><p>Let’s all pretend that Bitcoin can harbor smart contracts.</p><p>If a user had created Liquid Loans on top of Bitcoin, then Hanyecz could have taken a loan out on his BTC.</p><p>Instead of selling his BTC, he could have sold the stablecoin which he minted.</p><p>The result would have been funds for many many more pizzas in the future, and maybe even pizza corporations.</p><h2 class="wp-block-heading tablecontent">The Bottom Line</h2><p>Liquid Loans presents holders of PLS the ability to maintain price exposure without selling.</p><p>This is revolutionary in crypto because before this protocol accessing liquidity meant losing your coins.</p><p>So if you ever find yourself in the situation of wanting to buy something, do yourself a favor: mint USDL and spend that, but keep your PLS.</p><p>And of course, as always, this is not financial advice.</p>

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<figure class="wp-block-image size-large"><img width="325px" height="183px" srcset="https://d2ly46a6b1u3g6.cloudfront.net/wp-content/uploads/2024/01/08014111/Bitcoin-Pizza-Guy-Liquid-Loans-375x211.webp 375w, https://d2ly46a6b1u3g6.cloudfront.net/wp-content/uploads/2024/01/08014111/Bitcoin-Pizza-Guy-Liquid-Loans-662x372.webp 662w, https://d2ly46a6b1u3g6.cloudfront.net/wp-content/uploads/2024/01/08014111/Bitcoin-Pizza-Guy-Liquid-Loans-768x432.webp 768w, https://d2ly46a6b1u3g6.cloudfront.net/wp-content/uploads/2024/01/08014111/Bitcoin-Pizza-Guy-Liquid-Loans.webp 688w"  sizes="(max-width: 425px) 150px, 450px" src="https://ll-blog-dev.s3.ap-southeast-2.amazonaws.com/wp-content/uploads/2024/01/08014111/Bitcoin-Pizza-Guy-Liquid-Loans.webp" alt="Bitcoin Pizza Guy Liquid Loans" class="wp-image-4818"/></figure>



<p>Bitcoin Pizza Guy could’ve been saved by Liquid Loans.</p>



<p>Here’s what happened to this poor seller.</p>



<h2 class="wp-block-heading tablecontet">Who is the Bitcoin Pizza Guy?</h2>



<p>The "bitcoin pizza guy" refers to Laszlo Hanyecz, a software developer who is known for carrying out the first real-world transaction using bitcoin in 2010.&nbsp;</p>



<p>On May 22nd of that year, Hanyecz posted on a bitcoin forum that he would pay 10,000 bitcoins to anyone who would order him two pizzas from Papa John's.&nbsp;</p>



<p>At the time, 10,000 bitcoins were worth about $30.&nbsp;</p>



<p>A user named jercos took Hanyecz up on the offer and ordered him two pizzas in exchange for the 10,000 bitcoins.&nbsp;</p>



<p>While it seemed like a good deal at the time, those same 10,000 bitcoins are now worth over 400 million based on today's bitcoin price.&nbsp;</p>



<h2 class="wp-block-heading tablecontent">His Problem</h2>



<p>Hanyecz wanted Pizza.</p>



<p>He had Bitcoin.</p>



<p>He did not have a way to extract value from that Bitcoin without losing price exposure.&nbsp;</p>



<p>He had to sell his BTC at unfortunately low prices.</p>



<h2 class="wp-block-heading tablecontent">Problem Solved</h2>



<p>Let’s all pretend that Bitcoin can harbor smart contracts.</p>



<p>If a user had created Liquid Loans on top of Bitcoin, then Hanyecz could have taken a loan out on his BTC.</p>



<p>Instead of selling his BTC, he could have sold the stablecoin which he minted.</p>



<p>The result would have been funds for many many more pizzas in the future, and maybe even pizza corporations.</p>



<h2 class="wp-block-heading tablecontent">The Bottom Line</h2>



<p>Liquid Loans presents holders of PLS the ability to maintain price exposure without selling.</p>



<p>This is revolutionary in crypto because before this protocol accessing liquidity meant losing your coins.</p>



<p>So if you ever find yourself in the situation of wanting to buy something, do yourself a favor: mint USDL and spend that, but keep your PLS.</p>



<p>And of course, as always, this is not financial advice.</p>

Bitcoin Pizza Guy Travels Back in Time to Use Liquid Loans

Here's how Bitcoin Pizza Guy could've used Liquid Loans to have his Bitcoin and eat his pizza too.