I was rereading the old story about pizza for $BTC , and every time I catch myself thinking the numbers seem unreal🍕.
On May 22, 2010, programmer Laszlo Hanyecz paid 10,000 BTC for two pizzas from Papa John's. At the time, that was about $41 — meaning BTC was worth a fraction of a cent. A guy from the Bitcointalk forum agreed to order the pizzas and accept payment in a new coin that nobody needed at the time.
Why is this considered an important event, rather than just a funny anecdote?
— it was the first documented transaction in which $BTC was exchanged for a real-world good — before that, the coin existed only as an experiment among enthusiasts;
— the date itself became an unofficial holiday — Bitcoin Pizza Day, celebrated by the crypto community every year on May 22;
— if you calculate the value of those 10,000 BTC at today's price, you get a sum with nine zeros, and Laszlo has said more than once in interviews that he doesn't regret the deal at all, because it made sense at the time.
What really sticks with you is that in 2010, nobody — including Laszlo himself — could have imagined that the coin used to pay for fast food would become what $BTC is today. It shows just how hard it is to predict the long-term value of a new asset at the moment it comes into being.
Did you know this story already?👇
On May 22, 2010, programmer Laszlo Hanyecz paid 10,000 BTC for two pizzas from Papa John's. At the time, that was about $41 — meaning BTC was worth a fraction of a cent. A guy from the Bitcointalk forum agreed to order the pizzas and accept payment in a new coin that nobody needed at the time.
Why is this considered an important event, rather than just a funny anecdote?
— it was the first documented transaction in which $BTC was exchanged for a real-world good — before that, the coin existed only as an experiment among enthusiasts;
— the date itself became an unofficial holiday — Bitcoin Pizza Day, celebrated by the crypto community every year on May 22;
— if you calculate the value of those 10,000 BTC at today's price, you get a sum with nine zeros, and Laszlo has said more than once in interviews that he doesn't regret the deal at all, because it made sense at the time.
What really sticks with you is that in 2010, nobody — including Laszlo himself — could have imagined that the coin used to pay for fast food would become what $BTC is today. It shows just how hard it is to predict the long-term value of a new asset at the moment it comes into being.
Did you know this story already?👇