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Happy Bitcoin Pizza Day! May 22nd marks the 11-year anniversary of the first Bitcoin transaction, in which Laszlo Hanyecz, a Florida man, paid 10,000 bitcoins for two slices of Papa John's pizza on May 22, 2010.
Hanyecz was the first person to use bitcoin in a commercial transaction.
The 10,000 BTC were worth just $41 at that time.
He made the offer on bitcointalk forum. He wrote: “I'll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day. I like having left over pizza to nibble on later … If you're interested please let me know and we can work out a deal.”.
It is understandable that one can't help but calculate how much 10,000 bitcoins would be worth now. However, even though some people make fun of him now, Laszlo Hanyecz is a true legendary because he realized the real mission of Bitcoin as peer-to-peer electronic cash system as described in the whitepaper.
Unfortunately, BTC later lost that mission because of the high fees and delayed confirmations. It became a coin just for "HODL" and speculation. In fact, currently the fees to send a BTC transaction are almost equal to the price of a pizza.
BTC maximalists claim that it is good money because it is a good "store of value". However, Menger-Mises theory of the origin of money states that store of value is a secondary function of money which depends on its utility in its primary function as a medium of exchange. Here is also a nice video by Roger Ver explaining these concepts.
Bitcoin Cash BCH is the best version of Bitcoin nowadays since it continues that vision of Satoshi Nakamoto as money for the world.
Let us celebrate Bitcoin Pizza Day by buying, selling, sending, tipping, or exchanging something for Bitcoin Cash!
You may know a person or a business that accepts Bitcoin Cash in your neighborhood.
If not, may I suggest the following resources / businesses ?