Binance makes ETH transactions cheaper, El Salvador reduces inflation despite Bitcoin’s crash, Why would anyone pay 10.000 BTC for a Pizza?

Written by Pedro Lopez

May 22, 2022

Binance makes ETH transactions cheaper

Binance added support for Optimism, an Ethereum rollup that enables faster and cheaper deposits and withdrawals than on the mainnet.

This is the second rollup (second layer scalability solution) that Binance has incorporated into its platform. This integration allows users to see reduced payment for network commissions. According to the L2fees portal, current Ethereum mainnet fees are around $2.7, and have spiked up to $64 on average. For second layer solutions like Optimism, fees can be as low as $0.5, with much faster confirmations.

El Salvador reduces inflation despite Bitcoin’s crash

While inflation currently plagues many nations around the world, El Salvador managed to slow down its inflation between the months of March and April. It even improved one position among the nations of the area in terms of inflation rates.

Salvadoran year-on-year inflation went from 6.7% to 6.5% from one month to the next, as can be seen in the comparison of the reports for both months from the Central American Monetary Council (SECMCA). Additionally, El Salvador has not hesitated to buy Bitcoin in the current market situation.

Why would anyone pay 10.000 BTC for a Pizza?

Although many wonder how someone would spend so many tokens on a pizza, the first known use case for Bitcoin was transactional.

The first commercial exchange with this cryptocurrency was that of 2 pizzas in exchange for 10,000 bitcoins, paid by the programmer Laszlo Hanyecz on May 22, 2010, and which today is equivalent to about 300 million dollars.

Although it seems like a waste, what really motivated Laszlo to make this offer of 10,000 BTC for some pizzas was the desire to promote Bitcoin as a payment method.

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