M-RashidAnsari6677
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BTC AND PIZZAS 🍕 HISTORY
For Treading,,, $BTC
For Treading,,, $TUT
A piece of story behind the Bitcoin Pizza Day
In 2009, Bitcoin emerged on the financial scene as a revolutionary form of digital currency. The first real exchange rate for Bitcoin was established only in October 2009, at precisely 1 USD for 1,309 BTC. In March 2010, the first cryptocurrency exchange, BitcoinMarket.com, was launched. The idea came from an early Bitcoin enthusiast, "dwdollar" (this was his nickname), who proposed it on Bitcointalk, a forum where even Satoshi Nakamoto used to post. This exchange allowed Bitcoin to be traded for U.S. dollars via the online payment platform PayPal. The creation of BitcoinMarket was a pivotal moment for Bitcoin, as it provided a reliable and consistent way to track its price and create liquidity in the market. While BitcoinMarket laid the groundwork for future exchanges, it also encountered significant challenges that modern exchanges still face today. Ultimately, the platform ceased operations in mid-2011 due to the end of the cooperation between BitcoinMarket and PayPal, which mediated payments for Bitcoin purchases.
The 10,000 BTC offer
On the same forum where "dwdollar" shared his post, Laszlo Hanyecz published a rather extravagant announcement: I'll pay 10,000 bitcoins for a couple of pizzas… like maybe 2 large ones so I have some left over for the next day. I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I'm aiming for is getting food delivered in exchange for bitcoins where I don't have to order or prepare it myself, kind of like ordering a 'breakfast platter' at a hotel or something, they just bring you something to eat and you're happy!
I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc.. just standard stuff no weird fish topping or anything like that. I also like regular cheese pizzas which may be cheaper to prepare or otherwise acquire.
If you're interested please let me know and we can work out a deal.
Thanks,
Transaction - Bitcoin Pizza Day 10000 BTC for a Pizza - 🍕
And so, on May 22nd, 2010, he paid 10,000 BTC for two pizzas, a euphoric amount that at the time was worth only $41. However, over the years, with Bitcoin's astronomical growth in value, they have gone down in history as the most expensive pizzas ever. Before this transaction, Bitcoin had never been used to purchase something tangible, and for this reason, Bitcoin Pizza Day was established. It celebrates not just the first commercial Bitcoin transaction but also the remarkable journey of cryptocurrencies and the groundbreaking innovation they represent.
The Bitcoin Pizza agreement
It wasn’t an immediate transaction because no one had ever done it before, so it took some time. After the announcement on the forum, Laszlo waited a few days before a person named Jeremy Sturdivant accepted the offer. The Bitcoin Pizza transaction between Laszlo and Sturdivant is still visible today. It’s thanks to the blockchain that every transaction is permanently recorded, and this cannot be changed or canceled after confirmation. Later, Jeremy ordered the two pizzas from Papa Johns, which were then delivered to Laszlo.
“How lucky they must have been to find all that money in their hands!”. Actually, Papa Johns didn’t receive any Bitcoin. For a straightforward reason: Papa Johns didn't accept Bitcoin in 2010. It was Jeremy who enjoyed the unexpected growth of Bitcoin, or maybe. The stories always tell of Laszlo letting all those Bitcoins slip away, but how did Jeremy invest his earnings? Today, we want to tell you the story from another perspective, Jeremy's eyes.
The History of Bitcoin Pizza Day 10000 BTC for a Pizza - 🍕
Jeremy Sturdivant: The lucky buyer
So, Sturdivant accepted the payment and kept the Bitcoins for himself. He paid for the pizzas at Papa Johns in dollars, the current FIAT currency. Jeremy Sturdivant was also known for his online handle "jercos." At just 19 years old, Jeremy was active on Bitcoin forums, where Laszlo had posted his offer to exchange BTC for tangible goods. Seeing an opportunity, Jeremy stepped in to fulfill the request. Jeremy Sturdivant has largely stayed out of the public eye, unlike Laszlo, who has become a Bitcoin celebrity. Jeremy didn't keep his newfound treasure. Instead, he spent or traded the coins as Bitcoin gained traction in niche online communities. At the time, Bitcoin was not seen as a store of value but more of an experimental currency. Nor would anyone have ever imagined that Bitcoin would grow in value as it did. In May 2010, a Bitcoin was worth $0.004. And certainly not even Jeremy expected such a profit from this venture. “Hodling” was not yet common in the crypto world. And so, the lucky Sturdivant apparently spent his Bitcoin using them to travel the world and purchase video games. Jeremy later explained in interviews that he never regretted spending Bitcoins, as their value was insignificant at the time! The story of Bitcoin Pizza Day is often framed around "loss"—the potential value of the 10,000 BTC Laszlo spent. It's easy to imagine what would have been like if he had held on to those coins. But Jeremy's story reminds us of the other side: someone received those coins, used them, and moved on. The emphasis on the buyer over the seller also reflects our obsession with missed opportunities. Laszlo's story is a cautionary tale, while Jeremy's is one of simply participating in an experiment with no regrets.
The man behind the Bitcoin Pizza Day: Laszlo Hanyecz
Now that you know what Bitcoin Pizza Day is and its history, it's time to spend a few words on its protagonist: the programmer Laszlo Hanyecz. The name of Laszlo Hanyecz was certainly not new to the Bitcoin scene. He was one of the first thousand miners of the Bitcoin blockchain, as well as an essential programmer and user of the BitcoinTalk forum. Among his merits, Laszlo developed one of the first software to use GPUs to mine Bitcoins (GPU mining) instead of the classic CPUs. A direction which paved the way for an entirely new development path.
Considerations on early crypto transactions
That one of the first thousand miners of the blockchain considered it acceptable to buy two pizzas for 10,000 Bitcoin raises two interesting considerations. First, we can say that no one at that time imagined such an exponential growth in the price of Bitcoin, and secondly, no one was yet aware of what the actual use of cryptocurrencies was. Even for the very early adopters, it was apparently difficult to believe Bitcoin would acquire such importance. A few years later, in the interview “The story behind Bitcoin Pizza Day”, Laszlo declared he doesn’t regret the vast expense he made. This is because his transaction represented an important milestone for Bitcoin and given miners earned 50 BTC for each block they mined, recouping the 10,000 Bitcoin only required 200 blocks had to be validated, a relatively small number in grand scheme of things.
Fun facts about Bitcoin Pizza Day
Some curiosities about this story and more...
1. The expenditure recorded on the Bitcoin blockchain that financed the famous Pizza Day exchange was included in block 57,043. Hanyecz's transaction was the only one in his block, in addition to the Coinbase transaction that paid the 50 BTC mining subsidy. Today, it seems strange that a block contained only one transaction, but at the time, it was more than usual.
2. The pizzas actually cost more than 10,000 BTC. In fact, the total actual expenditure was 10,001 BTC because the transaction fee of 1 BTC that Hanyecz paid to the network's miners was added.
3. It took a full 4 days from the blog post to the pizzas arriving at Hanyecz's house and a full 6 hours between the purchase and the pizzas arriving. Ordering the pizza and the logistics of the delivery took up that time in between.
4. Hanyecz reused the address and sent the original 10,000 BTC multiple times. His address was sent, and a total of over 3,300 transactions were received. Sturdivant's address was only used four more times, once in 2015, 2017, 2018, and 2020.
5. Laszlo wasn't only the first person to make physical purchases with Bitcoin; he also became the first person to buy a pizza via the Lightning Network. On February 25th, 2018, he purchased two Papa Johns pizzas for 0.00649 BTC. One thing is for sure: Laszlo loves Papa Johns pizza and Bitcoin.
6. In 2010, everything revolved around pizza, and so that in the same year as Bitcoin Day on the other side of the world, Neapolitan Pizza was recognized as a traditional specialty guaranteed by the European Union. Did you know that World Pizza Day is celebrated on January 17th?
Bitcoin Pizza Day's significance
Bitcoin Pizza Day is now celebrated globally with events, online discussions, and special pizza promotions. It serves as a reminder of how far Bitcoin has come and its future potential. The real significance of the day is to demonstrate that Bitcoin could function as a real currency in addition to being a digital novelty. Laszlo’s purchase demonstrated the practical use of cryptocurrencies, paving the way for crypto commerce. Bitcoin Pizza Day marks a bizarre but pivotal moment in the history of cryptocurrencies; it remains a testament to the potential of Bitcoin and its journey from a novel idea to a financial revolution. Nowadays, many popular companies accept Bitcoin payments for their services, and not only that, countries like Switzerland are also experimenting with Bitcoin payments for public services and tax purposes.
The growth of Bitcoin from that time on never stopped. It is undeniable that Bitcoin, throughout its history, has suffered from intense volatility, as all cryptocurrencies do. But it’s important to remember that since the beginning, there has always been someone who believed in it, put their trust in it, and made Bitcoin become what it is now. At Trakx, we are proud to educate users about the history of Bitcoin and the specific milestones of its journey. We are going through significant monetary changes, and you can enjoy our educational resources and use our Crypto Tradable Indices to be at the forefront of crypto investing.
#BTC☀ #bnb #DOGE #Binance #BinanceLaunchpoolGUN
For Treading,,, $TUT
A piece of story behind the Bitcoin Pizza Day
In 2009, Bitcoin emerged on the financial scene as a revolutionary form of digital currency. The first real exchange rate for Bitcoin was established only in October 2009, at precisely 1 USD for 1,309 BTC. In March 2010, the first cryptocurrency exchange, BitcoinMarket.com, was launched. The idea came from an early Bitcoin enthusiast, "dwdollar" (this was his nickname), who proposed it on Bitcointalk, a forum where even Satoshi Nakamoto used to post. This exchange allowed Bitcoin to be traded for U.S. dollars via the online payment platform PayPal. The creation of BitcoinMarket was a pivotal moment for Bitcoin, as it provided a reliable and consistent way to track its price and create liquidity in the market. While BitcoinMarket laid the groundwork for future exchanges, it also encountered significant challenges that modern exchanges still face today. Ultimately, the platform ceased operations in mid-2011 due to the end of the cooperation between BitcoinMarket and PayPal, which mediated payments for Bitcoin purchases.
The 10,000 BTC offer
On the same forum where "dwdollar" shared his post, Laszlo Hanyecz published a rather extravagant announcement: I'll pay 10,000 bitcoins for a couple of pizzas… like maybe 2 large ones so I have some left over for the next day. I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I'm aiming for is getting food delivered in exchange for bitcoins where I don't have to order or prepare it myself, kind of like ordering a 'breakfast platter' at a hotel or something, they just bring you something to eat and you're happy!
I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc.. just standard stuff no weird fish topping or anything like that. I also like regular cheese pizzas which may be cheaper to prepare or otherwise acquire.
If you're interested please let me know and we can work out a deal.
Thanks,
Transaction - Bitcoin Pizza Day 10000 BTC for a Pizza - 🍕
And so, on May 22nd, 2010, he paid 10,000 BTC for two pizzas, a euphoric amount that at the time was worth only $41. However, over the years, with Bitcoin's astronomical growth in value, they have gone down in history as the most expensive pizzas ever. Before this transaction, Bitcoin had never been used to purchase something tangible, and for this reason, Bitcoin Pizza Day was established. It celebrates not just the first commercial Bitcoin transaction but also the remarkable journey of cryptocurrencies and the groundbreaking innovation they represent.
The Bitcoin Pizza agreement
It wasn’t an immediate transaction because no one had ever done it before, so it took some time. After the announcement on the forum, Laszlo waited a few days before a person named Jeremy Sturdivant accepted the offer. The Bitcoin Pizza transaction between Laszlo and Sturdivant is still visible today. It’s thanks to the blockchain that every transaction is permanently recorded, and this cannot be changed or canceled after confirmation. Later, Jeremy ordered the two pizzas from Papa Johns, which were then delivered to Laszlo.
“How lucky they must have been to find all that money in their hands!”. Actually, Papa Johns didn’t receive any Bitcoin. For a straightforward reason: Papa Johns didn't accept Bitcoin in 2010. It was Jeremy who enjoyed the unexpected growth of Bitcoin, or maybe. The stories always tell of Laszlo letting all those Bitcoins slip away, but how did Jeremy invest his earnings? Today, we want to tell you the story from another perspective, Jeremy's eyes.
The History of Bitcoin Pizza Day 10000 BTC for a Pizza - 🍕
Jeremy Sturdivant: The lucky buyer
So, Sturdivant accepted the payment and kept the Bitcoins for himself. He paid for the pizzas at Papa Johns in dollars, the current FIAT currency. Jeremy Sturdivant was also known for his online handle "jercos." At just 19 years old, Jeremy was active on Bitcoin forums, where Laszlo had posted his offer to exchange BTC for tangible goods. Seeing an opportunity, Jeremy stepped in to fulfill the request. Jeremy Sturdivant has largely stayed out of the public eye, unlike Laszlo, who has become a Bitcoin celebrity. Jeremy didn't keep his newfound treasure. Instead, he spent or traded the coins as Bitcoin gained traction in niche online communities. At the time, Bitcoin was not seen as a store of value but more of an experimental currency. Nor would anyone have ever imagined that Bitcoin would grow in value as it did. In May 2010, a Bitcoin was worth $0.004. And certainly not even Jeremy expected such a profit from this venture. “Hodling” was not yet common in the crypto world. And so, the lucky Sturdivant apparently spent his Bitcoin using them to travel the world and purchase video games. Jeremy later explained in interviews that he never regretted spending Bitcoins, as their value was insignificant at the time! The story of Bitcoin Pizza Day is often framed around "loss"—the potential value of the 10,000 BTC Laszlo spent. It's easy to imagine what would have been like if he had held on to those coins. But Jeremy's story reminds us of the other side: someone received those coins, used them, and moved on. The emphasis on the buyer over the seller also reflects our obsession with missed opportunities. Laszlo's story is a cautionary tale, while Jeremy's is one of simply participating in an experiment with no regrets.
The man behind the Bitcoin Pizza Day: Laszlo Hanyecz
Now that you know what Bitcoin Pizza Day is and its history, it's time to spend a few words on its protagonist: the programmer Laszlo Hanyecz. The name of Laszlo Hanyecz was certainly not new to the Bitcoin scene. He was one of the first thousand miners of the Bitcoin blockchain, as well as an essential programmer and user of the BitcoinTalk forum. Among his merits, Laszlo developed one of the first software to use GPUs to mine Bitcoins (GPU mining) instead of the classic CPUs. A direction which paved the way for an entirely new development path.
Considerations on early crypto transactions
That one of the first thousand miners of the blockchain considered it acceptable to buy two pizzas for 10,000 Bitcoin raises two interesting considerations. First, we can say that no one at that time imagined such an exponential growth in the price of Bitcoin, and secondly, no one was yet aware of what the actual use of cryptocurrencies was. Even for the very early adopters, it was apparently difficult to believe Bitcoin would acquire such importance. A few years later, in the interview “The story behind Bitcoin Pizza Day”, Laszlo declared he doesn’t regret the vast expense he made. This is because his transaction represented an important milestone for Bitcoin and given miners earned 50 BTC for each block they mined, recouping the 10,000 Bitcoin only required 200 blocks had to be validated, a relatively small number in grand scheme of things.
Fun facts about Bitcoin Pizza Day
Some curiosities about this story and more...
1. The expenditure recorded on the Bitcoin blockchain that financed the famous Pizza Day exchange was included in block 57,043. Hanyecz's transaction was the only one in his block, in addition to the Coinbase transaction that paid the 50 BTC mining subsidy. Today, it seems strange that a block contained only one transaction, but at the time, it was more than usual.
2. The pizzas actually cost more than 10,000 BTC. In fact, the total actual expenditure was 10,001 BTC because the transaction fee of 1 BTC that Hanyecz paid to the network's miners was added.
3. It took a full 4 days from the blog post to the pizzas arriving at Hanyecz's house and a full 6 hours between the purchase and the pizzas arriving. Ordering the pizza and the logistics of the delivery took up that time in between.
4. Hanyecz reused the address and sent the original 10,000 BTC multiple times. His address was sent, and a total of over 3,300 transactions were received. Sturdivant's address was only used four more times, once in 2015, 2017, 2018, and 2020.
5. Laszlo wasn't only the first person to make physical purchases with Bitcoin; he also became the first person to buy a pizza via the Lightning Network. On February 25th, 2018, he purchased two Papa Johns pizzas for 0.00649 BTC. One thing is for sure: Laszlo loves Papa Johns pizza and Bitcoin.
6. In 2010, everything revolved around pizza, and so that in the same year as Bitcoin Day on the other side of the world, Neapolitan Pizza was recognized as a traditional specialty guaranteed by the European Union. Did you know that World Pizza Day is celebrated on January 17th?
Bitcoin Pizza Day's significance
Bitcoin Pizza Day is now celebrated globally with events, online discussions, and special pizza promotions. It serves as a reminder of how far Bitcoin has come and its future potential. The real significance of the day is to demonstrate that Bitcoin could function as a real currency in addition to being a digital novelty. Laszlo’s purchase demonstrated the practical use of cryptocurrencies, paving the way for crypto commerce. Bitcoin Pizza Day marks a bizarre but pivotal moment in the history of cryptocurrencies; it remains a testament to the potential of Bitcoin and its journey from a novel idea to a financial revolution. Nowadays, many popular companies accept Bitcoin payments for their services, and not only that, countries like Switzerland are also experimenting with Bitcoin payments for public services and tax purposes.
The growth of Bitcoin from that time on never stopped. It is undeniable that Bitcoin, throughout its history, has suffered from intense volatility, as all cryptocurrencies do. But it’s important to remember that since the beginning, there has always been someone who believed in it, put their trust in it, and made Bitcoin become what it is now. At Trakx, we are proud to educate users about the history of Bitcoin and the specific milestones of its journey. We are going through significant monetary changes, and you can enjoy our educational resources and use our Crypto Tradable Indices to be at the forefront of crypto investing.
#BTC☀ #bnb #DOGE #Binance #BinanceLaunchpoolGUN
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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