|Posted by email@example.com on May 22, 2019 at 5:40 PM|
Bitcoin Pizza Day represents the initial real-world transaction made out of Bitcoin when Laszlo Hanyecz bought two pizzas with 10,000 BTC. In the past, each coin cost $0.03, and both pizzas were well worth $30.
Today marks the ninth year anniversary that the first Bitcoin transaction took place, where a Florida man by the name of Laszlo Hanyecz made an exchange of 10,000 BTC ($BTC▼0.82%) for two pizzas.
The transaction made global headlines and since that time, cryptocurrency enthusiasts across the globe have celebrated 'Bitcoin Pizza Day,' not because the man in question paid 10,000 BTC, but because the transaction symbolized a milestone that would become a historic basis for future transactions with Bitcoin and would further solidify a global adaptation to Bitcoin and other cryptocurrencies.
While shopping for pizza with Bitcoin doesn't seem too far-fetched nowadays, it was relatively major deal at that time because no product owner acknowledged cryptocurrency or Bitcoin, for that matter, as a means of payment.
On May 22, 2010, when Bitcoin was a little over a year old, programmer Laszlo Hanyecz paid out a fellow Bitcoin Talk community forum - the main gathering spot for bitcoiners at that time - 10,000 BTC in exchange for two Papa John's pizzas. The amount compensated equated to about $40.
Hanyecz posted uploaded:
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. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I’m aiming for is getting food delivered in exchange for bitcoins where I don’t have to order or prepare it myself, kind of like ordering a ‘breakfast platter’ at a hotel or something, they just bring you something to eat and you’re happy!
Another user, referred to as "Jercos", approved Hanyecz'a offer. To perform the deal, Hanyecz delivered the Bitcoin to Jercos, who then ordered the pizza.
Since Bitcoin’s debut, Hanyeczs' pizzas have gotten increasingly more costly. Approximately nine months after the pizza was purchased with Bitcoin, Bitcoin hit parity with the united states dollar, making the two pizzas worth $10,000.
In celebration of it’s five year anniversary, the Bitcoin Pizza Moment was noted where, both pizzas were highlighted in a mouthwatering $2.4 million. Just last week, Bitcoin surpassed the $8,000 draw for the very first time this year. In other words, you would have to spend a salivating $80 million in order to arrive at the same purchase amount.
Since that time, Bitcoin users can now buy just about anything ranging from houses, cars, boats, vacations, precious metals and stones and many other products, goods and services.
To obtain a snapshot of the History and Growth of Bitcoin and other Cryptocurrencies, request our report entitled, The History and Growth of Bitcoin. Also, if you are new to the Bitcoin and Cryptocurrency space, we recommend that you read the book entitled, Understanding the Basics About Bitcoin and Other Cryptocurrencies, the beginner’s 101 guide.
We also offer informative information about Bitcoin and other cryptocurrencies on our Cryptocurrency Blog at Shabang.com.
Article By: El-Princess and El-Ivan Taylor