How often do you feel like you would do anything for a slice of pizza? I sometimes do. But how much are you ready to pay in order to be able to enjoy your favorite meal? Whatever your answer is, there’s a person out there who most likely has beat your price.
Back in 2010, Laszlo Hanyecz, a programmer from Florida, paid for two Papa John’s pizzas with cryptocurrency. The day has become widely recognized as Bitcoin Pizza Day and is celebrated on May 22nd every year.
You may wonder what makes this day so important for the Bitcoin community? Hanyecz’s hunger pangs has led to what is believed to be the first real world Bitcoin transaction. It has paved the way for an early adoption of a brand new technology by the merchants.
On May 18th, Laszlo Hanyecz has created a thread on online forum bitcointalk.org:
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.
Hanyecz offered 10,000 Bitcoins to whoever delivers pizza to his place, homemade or ordered. Such a payment would sound insane in 2017 but, back in 2010, the technology was just over a year old. The amount of Bitcoins offered by the programmer was worth $41 at the time of the delivery. The receiver of the Bitcoins payed $25 for the two pizzas, so even back then it was a good deal for him.
Just nine months later, Hanyecz’s pizzas were worth $10,000 as Bitcoin reached parity with U.S. Dollar. In 2015, two Papa John’s pizzas were valued at $2.4 millions! Bitcoin has come a long way since the first known real world transaction, and the price of the cryptocurrency has risen astronomically. Last week, Bitcoins has hit a new record high, trading above $4,500, which makes the two pizzas worth $45 million.
However, Hanyecz doesn’t seem upset about his purchase. “It wasn’t like Bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool”, – the programmer The New York Times.