What Happened on May 22, 2010?
On May 22, 2010, a programmer named Laszlo Hanyecz made history by executing the first commercial Bitcoin transaction, purchasing two supreme pizzas from Papa John’s for the staggering price of 10,000 BTC. Fast forward to today and those pizzas are valued at around $266 million. Hence, May 22 is now famously celebrated as Bitcoin Pizza Day — a day for both pizza lovers and crypto enthusiasts alike!
Breaking Down the Costs
To really put this in perspective, let’s dive into the intricate details of what went into making those two pizzas. It is assumed that Hanyecz ordered “The Works,” which is Papa John’s supreme delight. However, we won’t factor in labor, overhead, or what they charged for the actual pizza dough (because who knows — that might cost a few million in BTC too!). Here’s the ingredient breakdown for just one of those famous pizzas:
- Pepperoni: 244 BTC = $6.5 million
- Bacon: 146 BTC = $3.8 million
- Italian Sausage: 97 BTC = $2.5 million
- Onions: 24 BTC = $640,000
- Green Peppers: 36 BTC = $960,000
- Mushrooms: 63 BTC = $1.6 million
- Black Olives: 121 BTC = $3.2 million
- Cheese: 730 BTC = $19.4 million
This brings the total cost of ingredients to an outrageous 1,461 BTC, equivalent to about $39 million. Makes you think twice before order extra cheese, right?
The Significance of Bitcoin Pizza Day
Bitcoin Pizza Day isn’t just a quirky anecdote in the crypto world; it marks a monumental event in the history of cryptocurrency. The transaction was the first time Bitcoin was used for real-world purchases, leading to its incredible rise from just $0.0041 in May 2010 to over $26,500 today.
The Man Behind the Pizza Order
Laszlo Hanyecz’s famous pizza request was posted on the Bitcointalk forum on May 18, 2010. Not waiting around for someone to whip up a pizza from scratch, he offered to pay anyone willing to deliver two pizzas. Jeremy Sturdivant, then a 19-year-old university student, came to the rescue. He delivered the pizzas four days later, something that must have left him with quite a story to tell at parties.
Looking Back and Forward
Even though Hanyecz jokingly lamented the exchange, claiming he “didn’t regret” it, his contribution didn’t end there. His early work on Bitcoin also paved the way for advancements in mining, turning what might have been a simple pizza transaction into a pivotal chapter in cryptocurrency history. So next time you celebrate with a slice on Bitcoin Pizza Day, remember: it’s all about the history behind that pie!
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