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Every May 22nd, bitcoiners around the world celebrate by ordering and eating pizzas, but do you know why? May 22nd is known as the Bitcoin Pizza Day, a date celebrated annually by the cryptocurrency community. This day marks the first recorded use of Bitcoin for a commercial transaction. 3l2l2f
On this date in 2010, a programmer made history by buying two pizzas for 10.000 Bitcoins. At the time, this amount of cryptocurrency was worth around $41, but today, with the appreciation of cryptocurrency, the equivalent value would be hundreds of millions of dollars. This event is seen as a significant milestone that demonstrated the viability of Bitcoin like a real currency. Find out more about the date now.
The world in 2010 y6t3l
The year 2010 was a fundamental milestone in the history of Bitcoin and cryptocurrencies, a period that defined the path for the digital revolution in the global financial system. In 2009, the Bitcoin was introduced by Satoshi Nakamoto — pseudonym used by an individual or group of individuals, who has never been revealed — who presented the idea of a decentralized digital currency based on technology blockchain. However, it was in 2010 that the Bitcoin began to gain notoriety and demonstrate its disruptive potential.
In 2010, the world was recovering from the 2008 global financial crisis. Trust in traditional banking systems and financial institutions was shaken, creating an environment ripe for the acceptance of new forms of money and transactions. The idea of a digital currency, which operated outside the control of governments and central banks, began to attract the attention of technology enthusiasts and advocates of economic freedom.
Therefore, at the beginning of that year, the Bitcoin it was still a curiosity for most people. The currency was mined mainly by programmers and technologists who were interested in the innovation behind blockchain. The value of Bitcoin it was extremely volatile and difficult to determine as there were no established markets or exchanges. In March 2010, the first cryptocurrency exchange was launched, the BitcoinMarket.com, providing a means for people to buy and sell cryptocurrency for US dollars.
A BitcoinMarket.com was crucial in beginning to establish a market value for the Bitcoin and facilitate its exchange in a more accessible way. The creation of such platforms marked the beginning of a more structured cryptocurrency market. With the growth of these exchanges, demand and liquidity for Bitcoin began to increase, and the value of the cryptocurrency began to be established more clearly and consistently.
Essential to the development of the currency, the community around the Bitcoin in 2010 it was small, but extremely active and dedicated. Online forums like Bitcointalk.org were fundamental to the development and dissemination of information about Bitcoin. Satoshi Nakamoto was active on these forums, participating in discussions and offering guidance on the future of the currency. Thus, developers continued to improve the cryptocurrency's code, resolving bugs and improving network security. A Bitcoin mining, which initially could be done with common Us, began to evolve towards the use of GPUs, increasing the difficulty and competition in mining.
Looking back today, we can see how 2010 was a year of experimentation and discovery, a period in which a revolutionary idea began to take shape. Lessons learned and innovations from this year continue to influence the development of cryptocurrencies and shape the future of digital money. The journey of Bitcoin from its first pizzas to its current status as a widely recognized digital asset is a testament to the capacity of technological innovation to transform the global economy.
The first purchase 2u1s20
Laszlo Hanyecz, a programmer from Jacksonville, Florida, was one of the first people to get involved in mining Bitcoin. In May 2010, Hanyecz made a forum post Bitcointalk.org, one of the main meeting points for sports enthusiasts Bitcoin in season. In the post, he proposed paying 10.000 Bitcoins for two large pizzas.
I'm going to pay 10.000 Bitcoins for some pizzas... like, maybe two large ones, so I have some leftovers for the next day. I like having leftover pizza to snack 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 really want is to get food delivered in exchange for Bitcoins where I don't have to order or prepare it myself, something like order a 'breakfast plate' in a hotel or something, they just bring you something to eat and you're happy!
Message from programmer Laszlo Hanyecz on the Bitcointalk.org forum.
Hanyecz's offer was met with interest and curiosity from the community. On May 22, 2010, a forum named Jeremy sturdivant, known by the pseudonym jerks, accepted the offer. Sturdivant bought two pizzas from Papa John's and delivered them to Hanyecz's house in exchange for 10.000 Bitcoins.
At the time of the transaction, 10.000 Bitcoins they were worth approximately 41 dollars. However, over the years and the exponential appreciation of cryptocurrency, the value of these 10.000 Bitcoins has grown extraordinary. This transaction not only set a precedent for the use of the digital asset as a medium of exchange, but also symbolized the potential viability of the Bitcoin as a practical and functional currency, demonstrating its use to purchase goods and services in the real world, outside the closed circle of enthusiasts and miners.
O Bitcoin Pizza Day it is now celebrated annually by the cryptocurrency community. It's a day to reflect on how much Bitcoin has grown since those early experimental days and to celebrate the technological innovation that made the existence of a decentralized financial system possible. Laszlo Hanyecz, over the years, commented on the transaction several times. He expressed that he does not regret spending 10.000 Bitcoins on pizzas, as, at the time, no one could have predicted the magnitude of the future appreciation of Bitcoin. Bitcoin. For him, the transaction was a way to actively participate in Bitcoin's history and help drive its early adoption.
Astronomical valuation 5l26d
Since its creation in 2009, the Bitcoin has undergone a journey of appreciation that few could have predicted. The first major appreciation occurred in 2011, when its price rose to around 1 dollar per unit, already above the value seen in 2010. This was an important psychological milestone, showing that the Bitcoin could be valued in of fiat currency. In the following years, cryptocurrency continued to gain notoriety, attracting investors and being adopted by more traders.
Between 2013 and 2017, the value of Bitcoin it went through several fluctuations, but the general trend was upward, reaching its first major peak in December 2017 at almost 20 thousand dollars per unit. This increase attracted the attention of global media and institutional investors, solidifying the Bitcoin as a serious asset class.
After a correction period, the Bitcoin began another appreciation cycle in 2020, driven by factors such as growing institutional acceptance, the perception of cryptoactive as a hedge against inflation and the growing adoption of blockchain technologies. In 2021, the Bitcoin it broke the barrier of 60 thousand dollars, and continued to rise, reaching new heights. Today, each unit of Bitcoin is equivalent to approximately 70 thousand dollars. If we calculate the value of 10.000 Bitcoins Based on this price, we arrive at an impressive value of 700 million dollars. This means that the two pizzas purchased by Laszlo Hanyecz in 2010, which cost 10.000 Bitcoins, would currently be worth around 700 million dollars, or approximately 3,5 billion reais.
Since these 10.000 bitcoins were worth $41 on Pizza Day, this equates to about $0,0041 per unit — less than a cent per bitcoin. This astronomical increase in the value of cryptocurrency illustrates the volatility and growth potential of cryptoassets. The appreciation of Bitcoin over the years is the result of several factors, including the growing acceptance and adoption of cryptocurrency, technological innovation and increased investor confidence. The decentralized nature and limited supply of Bitcoin contribute to its scarcity and, consequently, its value.
Furthermore, events such as halving, which halves the mining reward every four years, increase mining scarcity. Bitcoin and influence its price. Its perception as a store of value, similar to digital gold, has also driven its demand.
How is Laszlo Hanyecz today? e1t4z
Since the famous purchase of pizzas, Laszlo Hanyecz has remained active in the cryptocurrency community and in the area of software development. He continued to work as a programmer and contributed to several technological projects, including those related to Bitcoin. Hanyecz is widely recognized not only for his early contribution to the use of Bitcoin, but also for his work in Bitcoin mining. He was an early adopter of GPU mining, an innovation that significantly increased the efficiency and competitiveness of mining. Bitcoin. His work helped shape the way cryptocurrency mining is done today.
Laszlo Hanyecz frequently reflects on his famous first Bitcoin purchase, involving pizza, in interviews and public statements. He has a positive attitude and no regrets about the transaction. Hanyecz highlighted that, at the time, the transaction was a way to demonstrate the viability of Bitcoin as a currency and that no one could predict the future value it would would achieve.
In several interviews Laszlo Hanyecz emphasizes that, for him, the experience and innovation in participating in the first bitcoins were more important than potential financial gains. Hanyecz's story continues to inspire the cryptocurrency community. He is frequently invited to speak at blockchain and cryptocurrency conferences and events, where he shares his experiences and insights into the beginnings of blockchain. Bitcoin and the development of blockchain technology.
Your contribution to the development and adoption of Bitcoin is widely recognized. O Bitcoin Pizza Day is a celebration not only of the historic milestone, but also of the innovative spirit and courage of pioneers like Hanyecz, who believed in the potential of Bitcoin since its earliest days. Laszlo Hanyecz lives with his wife and children in Jacksonville, the most populous city in Florida, in the United States. He maintains a relatively discreet and private life, continuing to work in technology and exploring new innovations and projects that align with his ion for programming and cryptocurrencies.
See also:
Sources: The Verge e Economic Times.
reviewed by Glaucon Vital in 22 / 5 / 24.
