Bitcoin led the rise in popularity of cryptocurrencies a decade ago, but digital currencies didn’t have immediate use cases. On this day 13 years ago – bitcoin was first used to buy a real-world item – pizza. Back in 2010, thousands of bitcoin tokens were put together, amounting to $40 (roughly Rs. 3,310), by a programmer who wanted to buy two pizzas. Laszlo Hanyecz, a Florida, US-based programmer who was an early Bitcoin The adopter decided to try out the digital currency to buy pizza. At the time, the currency was in its infancy and each bitcoin was worth about $0.40 (roughly Rs. 33).
For Hanyecz to be able to buy two pizzas with bitcoin at the time, he spent a total of 10,000 bitcoin tokens at the Papa John’s outlet. Bitcoin is currently priced at $26,653 (roughly Rs. 22 lakhs), according to crypto price tracker By Gadgets 360. This means Hanyecz’s transaction today would be worth $268.7 million (roughly Rs. 2,225 crores).
As Papa John’s did not accept bitcoin as a payment option, Laszlo posted an offer on bitcointalk.org and 19-year-old Jeremy Sturdivant accepted the offer and delivered the pizza in exchange for an estimated 10,000 bitcoins.
13 years ago yesterday first #bitcoin Shopping done. Bought two pizzas for 10k BTC, which was equivalent to $40 at the time.
Bitcoin pizza days ahead. Celebrate with a Slice! pic.twitter.com/owdaA2AtBj
– Pentoshi: penguin: europeng: flag-eu: (@Pentosh1) May 21, 2023
Happy #bitcoin Pizza Day AP Family: Pizza:
Floridian programmer Laszlo Hanicez ordered two Papa John’s pizzas for 10,000 $BTC 13 years ago, it cost only $41:partly_sunny:️
today the same 10,000 $BTC Would be worth over $260 million: face_with_open_eyes_and_hand_over_mouth:
What an incredible hour :rocket: pic.twitter.com/zXoJtalsgb
— AlphaPanda (@AlphaPandaOne) May 22, 2023
Industry players have also come up with unique plans to connect with bitcoin enthusiasts and celebrate the anniversary of the first real-world bitcoin purchase. crypto firm binancePizza is organizing competitions in many parts of the world.
“Visit us in Italy to take part in our pizza contest, or search for clues to find our pizza vans in Vietnam, Bahrain and Brazil. Prefer a slice at a Binance pizzeria or partner shop? Cambodia, Uruguay, Mexico, Argentina and Colombia has you covered! You can even join in the fun online with our Bitcoin Pizza Day collect and win activity to win BTC equivalent to a year’s supply of pizza,” the firm said. Said,
of India coindcx crypto exchangeOn the other hand, has released a new recipe to honor the first known purchase made with bitcoin. “Bitcoin Pizza Day has certainly come a long way from its humble beginnings. What began as a seemingly ordinary transaction has now become a day of celebration and reflection for the entire crypto community. The time-recorded bitcoin transaction may have seemed like a small step at the time, but it was a giant leap for crypto. On May 22, 2010, two seemingly unrelated worlds collided in a delicious and exciting celebration that took the world by storm. took over the world of crypto. Who would have thought that pizza and bitcoin could create such a buzz,” Ashish Singhal, Co-Founder and CEO of CoinSwitch Kuber told Gadgets 360.
On 22 May 2010, #bitcoin used to buy #pizza, the first such use case for crypto. Prior to this, bitcoin was only used for on-chain use-cases. However, Laszlo’s purchase of 2 pizzas for 10,000 bitcoins demonstrated the usefulness of crypto as a medium of exchange in the real world.
— Ashish Singhal (@ashish343) May 22, 2023
The bitcoin community is now celebrating the historic day with several special posts. Twitter,
GM and Happy Bitcoin Pizza Day: Pizza:
The fact that 10,000BTC was worth around $41 on May 22, 2010 is astonishing.
Hope you all had some delicious pizza today :yum:
What a great way to start the week! pic.twitter.com/up87c92szm
— Ash Lightstone.eth (@AshLightstone) May 22, 2023
white paper The code for bitcoin was first published by Satoshi Nakamoto, the anonymous founder of BTC, on October 31, 2008. The founder’s intention behind creating bitcoin was said to be aimed at opposing the financial monopoly of governments. Over the years, bitcoin has evolved alongside many other digital currencies and the sector has seen the rise of other blockchain-related technologies such as NFTs and digital collectibles.