Even today, the 10,000 BTC Laszlo Hanyecz spent on two pizzas has a special place in Bitcoin folklore.
On May 22, the cryptocurrency community celebrates international Bitcoin Pizza Day. Less than two years after Satoshi Nakamoto published the nine-page Bitcoin whitepaper, Laszlo Hanyecz legitimized the use of cryptocurrency with the purchase of two pizzas for 10,000 BTC.There are thousands of cryptocurrencies, but Bitcoin, even to this day, remains an undeniably ingenious manifestation of blockchain technology.
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.
The Florida-based programmer, Hanyecz, went on to become the first person to use Bitcoin in a commercial transaction after paying 10,000 BTC for two Papa John’s pizzas on May 22, 2010. At the time of purchase, Bitcoin was worth $41. Today, 10,000 BTC would today cost around $300 million.Laszlo Hanyecz is more than just “that guy” who bought Pizzas with 10,000 BTC that the internet loves to sensationalize.
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