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- The first ever real world transaction of bitcoin is said to be 10 years old now, the story of buying of 2 pizzas for 10,000 bitcoins that is about to be 10 years old in May this year.
- This event is reported to have taken place in the year 2010, just an years after the Bitcoin invention.
- This led to the instant popularity of Laszlo Hanic, a programmer and Jeremy Sturdivant, courier from Papa Johns pizzeria who both were the lead characters in the story.
Bitcoin, the first cryptocurrency is a decentralized digital currency that could be sent from user to user on the P2P bitcoin network without the involvement of central bank or administration. Bitcoin that was invented in 2009, were created as a reward for mining. They can also be utilised as an exchange for other currencies, products, and services. It employs the Blockchain technology for the encryption of transactions.
Bitcoin has since then made a remarkable contribution to the cryptoindustry, there is no ambiguity in why it remains the most successful cryptocurrency all over the world.
To unveil one such story that reasons out the success of Bitcoin is the story of buying of 2 pizzas for 10,000 bitcoins that is about to be 10 years old in May this year. This event is reported to have taken place in the year 2010, an year after the Bitcoin invention.
This led to the instant popularity of Laszlo Hanic, a programmer and Jeremy Sturdivant, courier from Papa Johns pizzeria who both were the lead characters in the story.
Bitcoin Pizza: World’s Most Expensive Pizza Ever
In 2010, when the price of a Bitcoin was only a fraction of the cent and at time when there was no consideration of Bitcoin as a significant payment method, this story set an astounding example to help recognize the significance Bitcoin has created.
It all started when Laszlo Hanic, a Florida programmer was ready to pay 10,000 Bitcoins for a couple of pizzas. This became known through his question to the Bitcointalk. He stated that he was ready to pay 10,000 bitcoins for pizzas, a couple of big ones as an example.
Folowing the sequence of this narrative, the transaction happened to take place on Internet Relay Chat (IRC) only after its receival by Hanic on the 4th day. The two large Papa Johns pizzas were delivered by Jeremy Sturdivant after he agreed to the payment method.
At years back then, 10,000 bitcoins cost about $ 41 and two pizzas costed $ 25. But at present, times have turned the cost of 10,000 BTC to about $ 71 million.\
The First Bitcoin Transaction
This record of the first transaction with Bitcoin being involved as an exchange for a real product and service, created a remark in the history. Hanich and Sturdivant made the world realise the real possibilities of bitcoin, the possibilities which even consumers and sellers were unaware of. It is worth noting the interests both Laszlo and Jeremy had from the very beginning in the field of crypto industry. They are both bitcoin enthusiasts who till today continue to keep the same interest in the world of cryptocurrencies.
When the event took place, no one would had then imagined the remark and example this transaction would set and how memorable this story would become.
Soon after the deal, Jeremy announced that he sold those 10,000 BTC for $400. Following which, he received a win in 10x. The more interesting fact is that Laszlo Hanic again bought two more pizzas for bitcoins through the Lightning Network recently in the year 2018.
After the story unveiled and became public, there has been a tremendous growth of Bitcoin and stories like these have helped Bitcoin evolve in an unimaginable way.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
