The “Bitcoin pizza guy” was Laszlo Hanyecz, an early adopter and code contributor known on the forum by the username “laszlo”. He posted a thread offering to pay 10,000 BTC to anyone who would deliver him two pizzas. At the time, the Bitcoin community still mostly consisted of a niche group of enthusiasts. The main hub for Bitcoin discussion back then was the bitcointalk.org forum, which is still in operation today.

But Sturdivant didn’t save the bitcoins for the future; instead, he spent them all on travel. Bitcoin Pizza Day is likely the famous remembrance day of Bitcoin’s history. It alludes to the day when BTC was first used to purchase a real-world product, on May 22, 2010. This is possibly the biggest crypto holiday, so if you want to join in the revelries, order a pizza for when you sit back as you check the charts. Bridging the gap between fiat currency and cryptocurrency, stablecoins aim to achieve stable price valuation using different working mechanisms.

While in a traditional, physical cash transaction only those sending and receiving the money needed to be involved, digital trades had historically involved intermediaries. With Bitcoin, this could now all be done just like cash – truly P2P. Through cryptography, proof-of-work , a blockchain and a network of interconnected computers, the inventor was able to port peer-to-peer money – cash – to the digital realm, a feat until then impossible. So, Hanyecz hopped on the forum Bitcointalk and announced that he wanted to spend 10,000 BTC on two pizzas. Hanyecz stated that he wanted to buy two large pizzas and have them delivered to his home. Since the inception of Bitcoin, Hanyeczs’ pizzas have got more and more expensive.

In fact, if Hanyecz had hypothetically sold his entire stash at bitcoin’s all-time high of $68,990, he could have made around $690 million – enough to buy 46 million large Papa John’s pizzas at $15 a piece. A few days later, Hanyecz was able to find a user who could facilitate this purchase, and, lo and behold, he successfully managed to buy two pizzas for 10,000 BTC. But this all changed on what is asta May 22, 2010, when a man named Laszlo Hanyecz made history. On this day, Hanyecz, an early crypto enthusiast, decided that he wanted to try and buy two pizzas using nothing but the Bitcoin he owned. Today, one Bitcoin would buy you enough pizzas to fill a house, but things were very different back then. Some facts about the transaction behind bitcoin’s pizza holiday that are overlooked.

Whatever Happened To The Bitcoin Pizza Guy?

Movies, clothing, basketball tickets, airline packages, hotel bookings, and video games are among the items that can be purchased using cryptocurrency. Bitcoin Pizza Day will also be celebrated by Huobi Global, one of the world’s biggest digital asset exchanges, with a special Primebox deal. Since then, May 22 has been known as Bitcoin Pizza day — a day to celebrate the first real world Bitcoin transaction. Bitcoin Pizza is the name given to the first known purchase of physical goods with bitcoin. Those 10,000 BTC made it back into the economy fairly quickly, around the time they were worth some $400,” Sturdivant was quoted as saying in a 2015 interview with Bitcoin Who’s Who. Jeremy Sturdivant, the person, who said he sold the set of Papa John’s pizzas to Hanyecz in exchange for bitcoin said that he dumped his cache of bitcoin soon after the famous exchange.

Another great way to celebrate Bitcoin Pizza Day is by making your very own pizza from scratch. Make the dough, throw on your favorite toppings, and bake it at home. From May 19 through May 29, users can participate in the special occasion’s Primebox promotion for a chance to win a portion of the 50 BTC prize pool and other NFT awards. The group will conduct commemorative events at 100 pizza outlets in more than 75 nations, including Argentina, Australia, Canada, Britain, South Korea and the United States, to name a few. Investors and entrepreneurs are looking for an opportunity to trade in cryptocurrencies ever since the first crypto trade became viral. Sign up today for Stock Advisor and get access to our exclusive report where you can get the full scoop on this company and its upside as a long-term investment.

Bitcoin Pizza Day, in its own way, raises awareness of cryptocurrency and its purpose. New Bitcoins are created as part of the Bitcoin mining process, in which they are offered as a lucrative reward to people who run computer systems that aid in transaction validation. A miner was awarded 50 B.T.C. for successfully discovering a new block. This meant that a person only needed to mine 200 blocks to earn 10,000 B.T.C., which was relatively easy, given how few people dealt with Bitcoins. Do you think it’s a fad that’s been overhyped but will soon be forgotten? Or maybe you have a vague understanding of how the technology works, but you’re unsure of how it will impact your life.

Since then, Bitcoin mining has become a highly competitive industry. Large mining firms spend millions of dollars on developing specialized mining hardware, such as ASICs. Questions about how countries will tolerate the rise of crypto remain.

He doesn’t appear to have a verifiable social media account which makes it almost impossible to check on his current whereabouts or on what he’s been up to over the last several years. Find the approximate amount of currency units to buy or sell so you can control your maximum risk per position. As of 2022, there are 9,500 different types of cryptocurrencies. Sign up with your email address to receive news and updates. Alice and Bob are fictional characters commonly used as placeholder names in cryptology, as well as science and engineering literature.

Even today, the 10,000 BTC Laszlo Hanyecz spent on two pizzas has a special place in Bitcoin folklore. Shortly after, a user called “jercos” stepped up to the plate and delivered two pizzas to Laszlo Hanyecz in exchange for 10,000 BTC. “It seemed fair for both parties, low-risk, and well, who doesn’t like some kind of pizza?” Sturdivant was quoted as saying. In his own words, Sturdivant’s Bitcoin holdings also helped him buy games apart from supporting his travels. More importantly, he claims that he has no regrets over the turn of events and that he was content with the fact he inadvertently played a pioneering role in our collective history.

Previously, cryptos were not accepted as a form of payment, but after a man from Florida paid for his meal with bitcoins, this topic was all people could talk about. Back in 2010, few people involved imagined that Bitcoin would spawn a trillion dollar market. Nor did they know that May 22 would forever be celebrated as https://cryptolisting.org/ day. Since then, Bitcoin’s been used to pay for everything from cups of coffee to holidays and luxury watches.

Blockchain Organizations & Goals

The community celebrates by buying two pizzas and sharing them. Pizza restaurants also contribute to the celebration by offering discounts to customers who pay in Bitcoin. As a celebration, Bitcoin Pizza Day is appropriately named. The occasion commemorates an early cryptocurrency adopter who bought two pizzas using bitcoin on May 22, 2010. This was the first time anyone was reported to have to used bitcoin to buy physical goods .

• The reason why the global Bitcoin community celebrates this event is mainly about Bitcoin as a technological revolution and invention of sound money.
• There are many more milestones we could point to, especially in the past few years when crypto has made significant strides in adoption and acceptance.
• While you might be in your element using crypto slang…the genesis of several of these linguistic turns can be traced back to some rushed, or in this case, just drunken typos.
• In 2021, Bitcoin topped $60,000, and 10,000 coins would have amounted to $3 million per bite of pizza!
• Investors and entrepreneurs are looking for an opportunity to trade in cryptocurrencies ever since the first crypto trade became viral.

Learn more and get started today with a special new member discount. There are many more milestones we could point to, especially in the past few years when crypto has made significant strides in adoption and acceptance. Nonetheless, we hope the highlights above give you a taste of some of the highlights as we celebrate Bitcoin Pizza Day. Many or all of the products here are from our partners that pay us a commission. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. A cryptocurrency created by the pseudonymous developer Satoshi Nakamoto.

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Bitcoin and its ilk have been pummeled by reports that China will aim to crack down on digital assets. Treasury Department, noting that it will look to enforce anti-money-laundering rules for bitcoin transactions of $10,000 or greater. Laszlo responded to the delivery on BitcoinTalk.org by saying, “That pizza looks delicious! Adorable kid. “. He later stated that he was willing to pay 10,000 Bitcoins for future pizza deliveries. Laszlo took a family photo after the delivery marking perhaps one of the biggest milestones in the Bitcoin story.

Hanyecz made a post on a Bitcoin forum offering 10k Bitcoin for two large pizzas. Eventually someone took him up on his offer and delivered two Papa Johns pizzas. Prior to the first bitcoin halving in 2012, each successful miner was rewarded with 50 BTC for discovering a new block. This meant one only needed to mine 200 blocks to earn 10,000 BTC, which wasn’t particularly difficult considering there weren’t that many people competing to mine them at that time. He has worked as a reporter on European oil markets since 2019 at Argus Media and his work has appeared in BreakerMag, MoneyWeek and The Sunday Times. While many enjoy embarking on and promoting the HODL ethos today, not only was Bitcoin created as money but it was devised as one that enabled its holders the optionality to spend without asking for permission.

Virtual Identity & Digital Products: Metaverse Evolutions

“Retrospectively,” Sturdivant admitted to Bitcoin Who’s Who, it’s “crazy” to think of anyone having that much bitcoin today. Today, that lowly 10,000 bitcoin haul would be worth a pie-in-the-sky $365 million. Sign up for Money Reimagined, our weekly newsletter exploring the transformation of value in the digital age. In an interview with CBS in 2019, Hanyecz told Anderson Cooper he thought the transaction “made real for some people. The person in question was a Floridian programmer named Laszlo Hanyecz, who was also an early bitcoin miner. In May, 2010 Laszlo Hanyecz set out to buy two large pizzas with bitcoin.

JPMorgan Chase strategists speculated that institutional investors were shifting out of bitcoin and into gold GC00, +0.35%during the peak of last week’s selloff. Friday’s trade in bitcoin represented the second straight weekly decline, marking its most severe two-week downturn since the period ended July 5, 2013, according to Dow Jones Market Data. Hanyecz would go on to shell out 100,000 bitcoin that would now be worth $3.8 billion, according to the U.S. edition of The Sun.

However, the last few weeks have been nothing short of a bloodbath in the cryptoverse. Since November, the crypto market has lost over one trillion dollars, with Bitcoin and Ethereum taking the biggest hits by scale. The debate over the legitimacy and future of cryptocurrency in general, however, is still as hot as it ever was. Digital Currency, also called digital cash, digital money, or virtual currency is any form of currency or money-like asset that’s only available in purely digital or electronic form.

In fact, Hanyecz reportedly exchanged notes about the underlying software and bugs with none other Bitcoin’s enigmatic creator Satoshi Nakamoto. Just like Sturdivant, Haynecz had also faded into obscurity from the public view on the internet, but his name pops up almost religiously every year around Bitcoin Pizza Day. But Hanyecz is more than just another bloke who threw away a fortune worth hundreds of millions of dollars worth of cryptocurrency. In fact, he was one of the earliest adopters of Bitcoin and is credited with devising the system for mining cryptocurrency using the added firepower of a computer’s GPU. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period.

In the initial days, there weren’t any reliable venues where Bitcoin trades can be conducted. Instead, BTC was traded via direct communication through discussion boards and Internet Relay Chat rooms. This was the time when the cryptocurrency, helmed as an experimental technology, was worth only a few cents.

Bitcoin Pizza Day

If you’ve ever delved into crypto, you’ve probably come across an endless string of terminology and slang used by those within the industry. This was a harsh lesson in custodial exchanges and hot wallets , and later the company declared bankruptcy in both the US and Japan. To celebrate, you can take part in Proof of Keys, which started on Bitcoin’s 10th birthday in 2019. Trace Mayer started this celebration, which invites everyone to withdraw all BTC held by trusted 3rd parties to keep it in non-custodial wallets…celebrating the monetary sovereignty enabled by Bitcoin. Firmware de minería autoajustable Increase hashrate on your Bitcoin ASICs, improve efficiency as much as 25%, and mine on any pool or get 0% pool fees on Braiins Pool.

Hanyecz couldn’t have guessed that a single bitcoin would be worth tens of thousands of dollars 11 years ago and, perhaps, neither could have Nakamoto. But that is the intrigue and peril that crypto is shrouded in. The programmer was quoted by CoinTelegraph back in 2018 as saying that he had “no regrets” about shelling out bitcoin that he had mined willy-nilly more than a decade ago. After all, how was he to know that bitcoin would be the progenitor of a crypto revolution that would eventually see its price surge to the stratosphere. Learn the history behind the customary pizza day and how to buy the perfect pizza pie with Bitcoin.