May 22nd is celebrated all around the world by the crypto community as Bitcoin Pizza day. Here is why.
Back in 2010 Bitcoin was still in its infancy and only known to a handful of cypherpunks who were mining bulks of without being able to do much with it yet. The white paper was released in 2008 and the first block was mined on 3-January-2009 but still, in 2010 there was no use case for it in the physical world and no merchants were accepting it yet.
This was about to change and one bold action was all it was needed.
On May 18th 2010 a user on Bitcointalk (the early forum for crypto enthusiasts) known as Laszlo Hanyecz, made an offer to pay 10 000 Bitcoin for a couple of pizzas, just to be able to say that he bought something with Bitcoin. (see original post below)
After a few days of deliberation on the forum someone agreed to take him on his offer. The trade happened and on 22nd May 2010 Laszlo posted this, confirming that the first-ever transaction of Bitcoin for physical goods has been successful.
Even at that time, this seemed like a very generous offer as it amounted to $41 at the time, but very soon Bitcoin started gaining popularity and hence the price updates began. People were astonished by the value of these pizzas rising to what seemed astronomical levels, one user feeling sick over the figure of $70 000 back in 2011 and another one joking if this could one day be the first million dollar pizza… (well, technically two pizzas…)
Well, the year is now 2019, Bitcoin just went back to $8000 (although at its peak it had reached $20 000) so how about $800 000 000 actually? That’s 800 million US dollars for 2 pizzas as of this week.
Hard to comprehend, isn’t it?
Surely these will one day be the billion dollar pizzas and I hope this day comes soon for all of us who are involved with crypto and Bitcoin in particular.
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