- Bitcoin Pizza is the name given to the primary known purchase of physical goods with bitcoin.
On May 22nd, 2010, a developer named Laszlo Hanyecz made a post on Bitcointalk, the main Bitcoin discussion in presence by then. Hanyecz composed:
I’ll pay 10,000 bitcoins for two or three pizzas.. Like possibly 2 huge ones so I have some left over for the following day
At that point, 10,000 BTC was identical to around 41 USD. This equivalents to a Bitcoin cost of around 0.0041 USD. Hanyecz’s proposition was taken up by another Bitcointalk client, who paid 25 USD for the two pizzas, netting an astounding 16 USD benefit even at that point!
Presently, we should place this into point of view a little and quick forward around seven years. In April 2021, Bitcoin was exchanging around 60,000 USD. By then, the Bitcoin Pizza exchange was worth 600,000,000 USD.
On account of this now-fabled transaction , May 22nd has since been known as Bitcoin Pizza Day.
Hanyecz gained the coins through mining on his PC. In those days, mining on even customer grade equipment was a totally reasonable strategy for obtaining bitcoins. From that point forward, Bitcoin mining has turned into a profoundly aggressive industry. Enormous mining firms burn through great many dollars on creating particular mining equipment, like ASICs.
Hanyecz has expressed in interviews that he doesn’t lament utilizing 10,000 BTC to buy two pizzas. In those days, Bitcoin was a dark Internet marvel just followed by a modest bunch of fans. Utilizing cryptocurrency to purchase an actual decent appeared to be more outlandish than it does today. By then, this exchange might have even resembled a deal! Without a doubt, the universe of cryptocurrencies has progressed significantly from that point forward.