Bitcoin Pizza Day
While most of Bitcoin enthusiasts might have read this story, yet I feel excited whenever I read about it. I again re-read it on 22nd May as this is the day being celebrated by Bitcoin Community as Bitcoin Pizza Day.
On 22nd May 2010, a developer named Laszlo Hanyecz offered a deal on forum Bitcointalk.org – “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 — I like having leftover pizza to nibble on later,” quoted Hanyecz.
10000 Bitcoins for 2 Pizza !
No response for next 24 hours. He wondered if he has offered less. For those who are new to Bitcoins, let me tell you that Bitcoin software was developed in 2008 and made open source only in January 2009. Initial promotion of the Bitcoins and its concept was done by its pseudonymous creator Satoshi Nakamoto. He used to explain the concept online and offered bitcoins for few cents. Initial estimate is that some Bitcoins were offered free and gradually they were offered for two cents or so. In 2010 hardly anyone knew about Bitcoins and those few who had read about it online, bought few hundreds or thousands just for fun and to see how digital currency can be exchanged or stored in wallets.
Coming back to our Pizza story, now you can very well imagine state of Hanyecz when he was holding more than 10000 Bitcoins in 2010 and wondering that they are good for. Anyhow luck went in his favour when after 48 hours he got a response from someone called “Jercos” who was willing to buy him two large pizzas for 10000 bitcoins. Probably Jercos got equally interested in this new concept and idea of exchanging digital currency. Hanyecz reported on Bitcointalk.org, “I just want to report that I successfully traded 10,000 bitcoins for pizza” . This conversation thread went live for several years as initially people congratulated him and with time and more awareness of Bitcoins, they kept on remarking how expensive Pizza became from time to time and how valuation of Bitcoin kept on increasing. The communication thread went upto 73 pages and still being alive. Go to thread discussion to see it yourself. I myself saw it. It was like witnessing history. Loved it!
First Bitcoin Exchange in Real World Value – Bitcoin Pizza
That historical deal is considered to be first Bitcoin exchange for Real World Value! and every year this day – 22nd May 2010 is celebrated worldwide among Bitcoin community as Bitcoin Pizza Day. These two Large Pizzas actually cost USD 25 in 2010 and in terms of bitcoins, their value became 10000 btc. Going by today’s market price of Bitcoins, this trade is valued over $20million. So these two large Pizzas were the costliest Pizza in the world and probably this record will never break ever.
Hanyecz was interviewed by New York Times few years later when he recalled this infamous day. He might have been amoung the richest in US had he been retaining those 10000 btc.
So my dear Bitcoin enthusiasts, store your Bitcoins, keep purchasing at every dip. Keep accumulating, you never know what wealth they can give you. They are true solution to inflation and hedge towards recession and dooming economy.