btc pizza The 10,000 Bitcoin Pizza Day

[AkaCrafterCZ 1140]

Yesterday, we celebrated the 10th anniversary of the first real usage of Bitcoins as a payment.

On May 22th 2010, a programmer Laszlo Hanyecz purchased two pizzas for 10,000 Bitcoins, that were worth only around 30$ at that time. He asked for two pizzas delivered to his house in exchange for 10,000 BTC as a payment. At that time, no stores were still originally accepting Bitcoin as a payment method. Nowadays, these Bitcoins are worth almost 92 million dollars. This confirms how strong and powerful Bitcoin's usage actually is. If he wouldn't have made this puchase, Bitcoin might not be that popular today.


Image source: https://roklen24.cz/
BT thead: https://bitcointalk.org/index.php?topic=137.0

[Zaino34 0]

This is a good guide for using bitcoin to buy since then although it is sad that its owner loses all this amount in exchange for buying pizza

If he had known that the price of bitcoin would rise to this amount, he would not have lost all of this amount and would have kept it and made up for it.

Edited May 23, 2020 by Zaino34

[Saj555 2250]

I feel sorry for that guy. A person holding 10k bitcoins will be a billionaire now. But he spent it and actually no one knew that it will turn like this. Maybe the person might also think about his gestures that he did with his bitcoins. But maybe it seems that the world is evolving and we should also depend on having patience. Because crypto world can change anyone's life. 

[Brand1 1336]

I have heard and read a lot about this person and as you mentioned that the purchase of a piece of pizza was the first purchase made through cryptocurrencies and that this method of purchase was in the interest of the pizza seller as he managed to achieve thousands of dollars through a piece of pizza and no one expected this thing to happen

[magd 5231]

I think that this person, if he were alive to this day, he is certainly sad because he did not know the importance of the currencies he owns, yet we are proud of this rise and development of bitcoin over the long years and the matter makes us more confident that it is a real and supportive economy

[AkaCrafterCZ 1140]

4 hours ago, Brand1 said:

I have heard and read a lot about this person and as you mentioned that the purchase of a piece of pizza was the first purchase made through cryptocurrencies and that this method of purchase was in the interest of the pizza seller as he managed to achieve thousands of dollars through a piece of pizza and no one expected this thing to happen

I'm not sure if the pizza seller kept his Bitcoins until today, as there isn't any mention about who sold the pizzas to him. But if they do, they're rich today. Just for ordering Laszlo two pizzas.

4 hours ago, magd said:

I think that this person, if he were alive to this day, he is certainly sad because he did not know the importance of the currencies he owns, yet we are proud of this rise and development of bitcoin over the long years and the matter makes us more confident that it is a real and supportive economy

He definetly is still alive. He later confirmed that he's aware of what a "loss" it was to spend that many Bitcoins on two pizzas, but he's at least proud for being the first person to use bitcoins as a payment. He still earned a few good bitcoins from the donation address he posted in his Bitcointalk signature, which he's able to use nowadays.

2 hours ago, deboprotap said:

That is really very interesting fact.Just think if he do not purchase the pizza and hold that big amount of bitcoin,then surely he can be one rich person according recent bitcoin price.But I also think this transaction was first bitcoin social transaction.So this transaction was important for growth of crypto market.

You know, at that time, 10 000 Bitcoins were only worth 30$ at that time. He couldn't predict, or even guess, how expensive Bitcoins could be later in the future.

[AkaCrafterCZ 1140]

2 hours ago, Sentry said:

We couldn't really know what will happen to the future eh? That guy who bought pizza with 10,000 Bitcoins must have hated himself. He could have millions of dollars right now and might be off to some paradise just chilling, but no. He chose to use 10,000 Bitcoins to purchase to pizza.

Laszlo decided to purchase the pizzas in the year 2010 and at the moment when he purchased the pizzas, ten thousand bitcoins were worth 40$. At that time, it wasn't a loss for him, but if he would've kept his Bitcoins until today, and sold them now, he would be a millionaire..

[rekter 8129]

Somehow people think that it was a disaster and a bad call to sell them. It was just redistribution, and very necessarily for the growth. Every time people will use their bitcoins, someone else will gain them. Causing more adoption and some of them hopefully fall to new users. Probably no one of us would have done a better job by holding on to their coins. I know that because most of us weren't buying bitcoins then and most of us are not buying now either because it's "expensive".

[BTC Future 3946]

On 5/25/2020 at 6:34 PM, rekter said:

 I know that because most of us weren't buying bitcoins then and most of us are not buying now either because it's "expensive".

There were people saying Bitcoin was a bubble at $10! Of course most that were involved back then knew that Bitcoin had real potential and many understood that with massive waves of adoption there was potential for way more. But noone could actually know that it was going to reach $10,000. I remember even in the beginning of 2017 the youtuber that brought me into Bitcoin (Chris Dunn) was saying that $10,000 is out of the question and wasn't going to happen. Still it did, and basically everyone was left with our mouth open the first time we crossed this milestone.

Edited May 28, 2020 by BTC Future

[Ridam 7455]

Well it's the best lesson for everyone in the Crypto field to keep patience and hold the coin as maximum amount for more profit. And if he hadn't sold his btc for pizza at that time now he would be enjoying his millionaire life now.

[jamesvince 2389]

Wow that day who's know that 10000 bitcoin price is now in millions USD value only only one btc value is 9600$ it means everything is possible in crypto market. So don't under estimate the potential of crypto market. If you want investment in crypto market then know the volatility of btc and altcoins .

[Honny143 13612]

2010 peoples not believe in crypto currency its bitcoin evaluation period, peoples just start investing in bitcoin, so the person who buys 2 pizzas  to pay 10000 bitcoins its really amazing, because that time also peoples except bitcoins, but I think the person present feels so sad for their stupid decision.

[Upright 2688]

When late comers of the Cryptocurrencies space kind of see this type of story about the pizza scenario,as this kind of brings on the realisation on why bitcoin as a money storage is one of the best storage to keep your funds if your actually looking as a holder of bitcoin on a long run

[Raqeebzy 6456]

It deserves celebration just like the halving. It was rumoured to be the first trade in bitcoin so it will was very essential, although Laszlo might regret trading such amount of bitcoin talking look at the values now it was a massive development in just 10 years. This is the evidence we might see a better than gold market in the next few years.

[Yomose 3704]

17 hours ago, Raqeebzy said:

It deserves celebration just like the halving. It was rumoured to be the first trade in bitcoin so it will was very essential,

It was no a rumor and the day is very important because it was the first bitcoin open trade in 2010 when bitcoin was nothing at all. 

 

17 hours ago, Raqeebzy said:

although Laszlo might regret trading such amount of bitcoin talking look at the values now it was a massive development in just 10 years.

According to the latest interview, he said he did not regret at all. 

17 hours ago, Raqeebzy said:

This is the evidence we might see a better than gold market in the next few years.

It is not about bitcoin having more marketcap than gold because gold worth's trillions of dollars. But we can gain a lot from its price fluctuations. 

[Raqeebzy 6456]

1 hour ago, Yomose said:

According to the latest interview, he said he did not regret at all. 

Let's say he doesn't. I still believed he would have hoped to have them till now, it would have been a lot better, he is a human being after all. I also read more about it and I confirmed it was the first open trade. Thanks.

[AkaCrafterCZ 1140]

5 hours ago, Raqeebzy said:

Let's say he doesn't. I still believed he would have hoped to have them till now, it would have been a lot better, he is a human being after all. I also read more about it and I confirmed it was the first open trade. Thanks.

Yes, he said that he's completely okay with the trade, even though nowadays those Bitcoins are worth millions. Without him, Bitcoin might not be that popular nowadays. He helped to spread cryptocurrencies thanks to his purchase.

[Yomose 3704]

14 hours ago, AkaCrafterCZ said:

Yes, he said that he's completely okay with the trade, even though nowadays those Bitcoins are worth millions. Without him, Bitcoin might not be that popular nowadays. He helped to spread cryptocurrencies thanks to his purchase.

@AkaCrafterCZ you are very right, bitcoin may not have been popular, it makes the man's name to always be remembered as the bitcoin pizza day is memorable. 

[George10 9932]

Sure that pizza purchase with bitcoin was the first payment made with crypto and I believe it also helped to make bitcoin popular and to be accepted as a payment by many businesses around thus pushing the price to where we are today though it could have made the guy a billionaire today if he new the price will reach this far.

[kyoukage01 3181]

10,000 BTC was indeed a vast amount of money today, and even if on hindsight it was indeed a waste, we can't help but applaud at him being the first(?) to actually demonstrate the possibility of using BTC for transacting in exchange for material goods. Far from regretting that transaction, he should be proud that his name will go down to the history books for that milestone.

 

Who knows, maybe someday in the future we'll be beating ourselves in the head if the price of a mere 1000 sats (the amount this forum pays per post) becomes worth a hundred dollars or more. If today there are some people who have used crypto to buy goods and other commodities (maybe other than pizza) and didn't bother hodling some savings, and in the future this has indeed become the case, they might realize they were just in the same predicament as Laszlo Hanyecz has been. Then they wouldn't be laughing at him for 'wasting' BTC like they think he did.

 

[Whited35 15285]

I can just imagine now how much  amounts should cost to buy 10,000 BTC now ! Anyway, that was a first practice to buy anythings by using cryptocurrency which was originally BTC itself. Now we can see so many swag stores which accept BTC as a payment option. 

[Yomose 3704]

10 hours ago, Whited35 said:

I can just imagine now how much  amounts should cost to buy 10,000 BTC now ! Anyway, that was a first practice to buy anythings by using cryptocurrency which was originally BTC itself. Now we can see so many swag stores which accept BTC as a payment option. 

As of the time in 2010, bitcoin worths as low as $0.003 and many amount of bitcoin was used. The main that bought the pizza was interviewed and said he even used over 500000 btc to buy pizza. That is a great amount of dollar this day. 

[malik6314193 5449]

Now it's looks strange that how he pay 10000 bitcoin for just two pizzas. But now he was thinking that he should not eat pizza for that day and he will millionaire in these days. 

And i think bitcoin will go up more. 

[Moaz 7239]

Certainly, this programmer feels very sad because he paid 10,000 Bitcoins equivalent to $ 100 million for pizza at the present time !!  This indicates how important Bitcoin is, as it develops every day and increases in value dramatically in the crypto world 

[Yomose 3704]

On 5/23/2020 at 11:04 AM, Zaino34 said:

This is a good guide for using bitcoin to buy since then although it is sad that its owner loses all this amount in exchange for buying pizza

If he had known that the price of bitcoin would rise to this amount, he would not have lost all of this amount and would have kept it and made up for it.

The guy did not lose everything to pizza, cointelegraph interviewed the guy recently this year, he claimed to mined over 100,000 bitcoin at the time, he said he used half of it to buy pizza and the remaining half for other things. I believe the guy is still very well in money with other projects he would have been among to develop.