As the old story goes, 8 years ago today the first product purchased with Bitcoin took place and it was for 2 large pizzas. Laszlo Hanyecz, a programmer who also was one of the earliest miners of BTC, posted a thread on Bitcointalk looking to trade 2 large Papa John pizzas for 10,000 BTC.
“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!”
-laszlo, the man who paid 10,000 btc for 2 pizzas in 2010
At the time, BTC’s price was around $.003, the total transaction costing Laszlo approximately $30. Bitcoin was less than 2 years old and no vendors were accepting them as payment.
Not long after posting, laszlo reported back that a user name ‘jercos’ completed the trade. 10,000 BTC for pizza.
Today, 8 years later 10,000 BTC equates to roughly $82 million dollars, and with 10 slices per large pizza and 2 large pizzas, that totals to about $4 million a slice. While one would think giving up so many BTC for pizza would be a decision that would haunt someone and sour their feelings towards crypto, it could not be the opposite for Laszlo Hanyecz. In fact, Hanyecz made another transaction last February where he sent a friend in London $67 worth of BTC (.00649 BTC) in exchange for 2 large pizzas delivered to him in Florida. Hanyecz wanted to prove that Bitcoin is still a viable payment system, especially with the addition of the Lightning Network.
It is tradition to eat pizza on this day for the crypto community, preferably if it was bought with Bitcoin.
8 years ago today, Laszlo Hanyecz paid 10,000 BTC for 2 pizzas.🍕 Today, you can throw an office pizza party for 10,000 bits. ($80) That’s over 1,000,000x increase in 8 years! Thanks Laszlo for your sacrifice, which helped kickstart Bitcoin adoption worldwide. 👏 #BitcoinPizzaDay pic.twitter.com/vTHZon3KX4
— Charlie Lee [LTC⚡] (@SatoshiLite) May 22, 2018
On this blessed #BitcoinPizzaDay, let us remember the real hero of the story, jercos, who boldly demanded bitcoins in exchange for pizzas. He is a major source of inspiration for Bitcoin carnivore hodlers everywhere. Get rid of bread, acquire bitcoins.
Thanks jercos! pic.twitter.com/O7MwkjZdR8
— Michael Goldstein (@bitstein) May 22, 2018
— Slush Pool ⚡ (@slush_pool) May 22, 2018
Happy #BitcoinPizzaDay! On May 22, 2010, Laszlo Hanyecz ordered two pizzas for 10,000 $BTC (41 $USD) from @PapaJohns. #Papajohns isn’t embracing it’s place in #crypto history, but @CharlieShrem thought we should honor tradition! #Bitcoin #RaiseyourCryptoIQ https://t.co/IK12jaaBet pic.twitter.com/ca0dxMUNp6
— Crypto.IQ (@_CryptoIQ) May 22, 2018
— Changelly.com (@Changelly_team) May 22, 2018
— Blockstream (@Blockstream) May 22, 2018