Traders Everywhere Enjoy Bitcoin Pizza Day

Sunday 7 May 2020, 7:19 AM AEST - 1 week ago

bitcoin, cryptocurrency, shopping, spending

Yesterday was Bitcoin Pizza Day. Traders and crypto enthusiasts around the world celebrated by snacking and munching on pizza not necessarily because its so good, but because its part of a now ten-year tradition that many industry players like to celebrate.

Bitcoin Pizza Day Has Arrived

May 22, 2010 was a monumental day in most crypto enthusiasts eyes given that it was the first time an official purchase was made with bitcoin. The currency, like all digital assets, was initially created to be a means of payment for goods and services. The problem is that many companies will not accept it due to its extreme volatility, thus forcing bitcoin into a much more speculative category.

The purchase discussed here was made by a man in Florida named Laszlo Hanyecz. He was one of bitcoins earliest technical contributors and had several BTC units in his stash, which at the time, didnt seem like much of a big deal considering the asset was nowhere near the price its at now.

Hanyecz decided he was hungry and that he didnt want to pay cash for his meal. He quickly put out a message on Bitcoin Talk, a cryptocurrency group discussion forum, saying that he was eager to pay for his lunch with bitcoin granted someone was willing to engage in the trade. He explained in the message board:

Ill pay 10,000 bitcoins for a couple of pizzas… Maybe two large ones so I have some left over for the next day. If youre interested, please let me know and we can work out a deal.

What a Story It Is

A user on Bitcoin Talk named Jercos answered. He agreed to the trade and accepted the 10,000 BTC from Hanyecz granted that he would order and paid for the pizzas. At the time, the 10,000 bitcoins amounted to just over $40. In an interview, Hanyecz stated:

I wanted to do the pizza thing because to me it was free pizza. I mean, I coded this thing and mined bitcoin and I felt like I was winning the internet that day. I got pizza for contributing to an open-source project. Usually, hobbies are a ...

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