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The day when 10,000 bitcoins became two pizzas

Cryptocurrency

Photo: Shutterstock

Today, May 22, 2020, we celebrate one of the most important milestones in cryptoeconomics: the birth of Bitcoin as a financial asset or the first transaction involving the exchange of physical goods for bitcoins.

Known as “Bitcoin Pizza Day”, the date celebrates the first commercial transaction carried out on the Bitcoin Network: the exchange of 10,000 bitcoins for two pizzas, which in current values ​​would give more than half a billion reais.

For those who do not know the story, a brief explanation is worthwhile: on May 18, 2010, Hungarian developer Laszlo Hanyecz published a request on the Bitcointalk forum.

He said he was willing to pay 10,000 bitcoins (out of the 70,000 he had already mined) for 2 large pizzas. He even said that the person could make the pizzas, because what he really wanted was delivery delivery of food paid with bitcoins.

Below you can read Laszlo's original post:

Some members answered the topic, and the negotiation was made for a $ 41 delivery purchase for two Papa John's pizzas, by another enthusiast who placed the order online at the local Jacksonville – Florida (USA) pizzeria, delivering it to Laszlo's house.

Anyone who wants to see the entire conversation can be read here: https://bitcointalk.org/index.php?topic=137.

Enjoy and also see what the famous pizzas were like in Laszlo's original post: http://heliacal.net/~solar/bitcoin/pizza/

And for unbelievers, check out the transaction on the blockchain:

https://www.blockchain.com/btc/tx/a1075db55d416d3ca199f55b6084e2115b9345e16c5cf30 2fc80e9d5fbf5d48d

Bitcoin Pizza Day

But more than the most expensive pizza in the world, Bitcoin Pizza Day marks a very important moment in the history of the world economy.

Before you conclude that the amount paid for the most expensive pizza in the world was absurd, remember that, until that moment, bitcoin had no commercial value and it was the first time that it was valued and became something beyond what only tests between programmers (which had lasted more than a year).

Laszlo's idea – very successful – was to prove that Bitcoin is useful for simple everyday things, taking this decisive step in the history of cryptoeconomics.

Until that moment, the potential of this disruptive technology, which has a multitude of applications, has not yet been experienced, both daily and in the areas of health, agriculture, government, logistics, etc.

The landmark of Bitcoin Pizza Day must be celebrated by realizing how blockchain can bring more and more positive social impact by digitizing processes and allowing people, from anywhere in the world, to have access to a single secure, fast and secure financial system. borderless.

It was this small deal that showed the potential for mass use of Bitcoin and cryptocurrencies that would still emerge.

Today, we celebrate 10 years of a silent revolution, which is here to stay, changing the logic of functioning of many sectors of our society.


About the author

André Hamada is COO and co-founder of Bitpreço, a marketplace that seeks to unite the best offers in the Brazilian cryptocurrency market on a single platform, with options for buying and selling bitcoins from the main Brazilian and international exchanges.

This source of this article is portaldobitcoin.com.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.