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Bitcoin Pizza: The Guy Who Spent 10,000 BTC on Two Pizzas

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Written by   25
1 year ago

Have you ever heard the history of the first guy who bought a pizza using bitcoin? Do you wonder what happened to those coins after the purchase?

When Bitcoin was still a little over one year old, a programmer named Laszlo Hanyecz, a programmer in his late 20's from Florida, stumbled over this new type of digital currency and desired to try his hand at producing some new coins. He started mining Bitcoin.

It is noteworthy that these days, most miners are using their CPU or their computer's processor to mine Bitcoin.

Hanyecz figured out that graphics cards would truly be more beneficial at the job. It went like a charm profiting from the performance boost.

Hanyecz soon produced thousands of coins a day. A vital part of all lost shots to the sensible next question of what to do with the coins.

At this time, Bitcoin was almost insignificant, trading for fractions of a cent and often even given away for free.

It was quite a play money. If it could be considered money at all, no one had really bought or sold anything restricted as far as known.

Bitcoin Pizza | Image via BitcoinTalk.org

On May 18, 2010, Hanyecz was about to change this. He took to the Bitcoin talk forum started the thread title pizza for bitcoins. He wrote, "I'll pay 10,000 bitcoins for a couple of pizzas like maybe two large ones, so I have some leftover for the next day."

After a few days of no takers, it was made 20 seconds when Lazlo showed up in the threat with an announcement that would go down in Bitcoin history.

"I just wanted to report that I successfully traded 10,000 bitcoins for pizza."

The slow growth accompanying photos of two Papa John's pizzas is proof. 18-year-old Jeremy Sturdevant's from Britain had carried up Lazlo's offer.

The chat program is still famous among anchors' jerk-offs. He was recognized in the nation Bitcoin community as the man who ordered two pizzas online for 30 bucks.

In return, he received Lazlo's 10,000 coins straight in his Bitcoin wallet with Laszlo and Jeremy's deal. The first-ever recorded Bitcoin purchase was, in fact, a significant breakthrough for Bitcoin. Little did last know Bitcoin itself was just about to go on a raging drive. The parts cost Hanyecz about 180 million dollars by today's Bitcoin prices, but this has never dissolved.

"I wanted to do the pizza thing because, to me, it was free pizza." He later told VidCon magazine.

The pizza Hanyecz purchased was worth about $30 on May 22, 2010, opposed to $100 million for 10,000 Bitcoin today. That day has been commemorated as Bitcoin Pizza Day.

Ten years down the road, the event was being commemorated each year with its own Bitcoin holiday celebration.

Do you think he was regretting today due to his action before?

Well, Bitcoin now is worth a lot of money. In fact, it is worth a million bucks at the time of me making this article. Hanyecz's 10 000 bitcoin would be worth around 170 million dollars.

You probably think that he regrets his commerce and wish that he held on to those coins with this in mind. Nevertheless, he does not really seem all over salty about this. It could be he had some extra bitcoin in his digital wallet. But anyway, in a recent interview with him where he ponders on this entire event, he resembles simply naturally proud of himself for being able to confirm the economic viability of bitcoin.

Just imagine years from now if bitcoin truly carries over as the prevailing or most dominant form of currency in the world. What do you think will be written in history books?

It could be that the history books in the future may have to demonstrate that this theoretical commercial revolution was all begun from a man buying a pizza on an internet forum.

That's it!

I hope you have enjoyed reading my article. If you have something to tell, kindly write it in the comment section below. If you want to read more articles like this, you may consider subscribing to my profile.

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Written by   25
1 year ago
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Comments

I wonder what would sir @MarcDeMesel @Telesfor @RogerVer react on this.

Anyways, nice article. The history in the future probably contain this fact. This is my first time hearing it and I was truly amazed.

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1 year ago

good job bro..keep it up

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1 year ago