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The Washington Independent

How is Bitcoin Pizza Day a Day of Celebration?

How is Bitcoin Pizza Day a Day of Celebration?

If you check the social media post by Laszlo, the software programmer, on 18th May 2010, he added Bitcoin for Pizzas. He is the man who used his 10K of BTCs to procure two pizzas worth 41 USD in the US.

Iram Martins
Finance
Jun 19, 2022

Table of Contents

If you check the social media post by Laszlo, the software programmer, on 18th May 2010, he added Bitcoin for Pizzas. He is the man who used his 10K of BTCs to procure two pizzas worth 41 USD in the US. He got his pizza for the said number of Bitcoins. It was a free pizza for which he paid using Bitcoins with less than 0.004 USD as the price. With the passing day, as the price for the coin went up, we saw the importance of burning those coins by the LA-based software programmer to get the pizzas. However, he never felt he was wasting his currency, which could have made him a millionaire today. His post in May 2010 went viral when many commented on how he managed two large pizzas with the said coins. On 22nd May, he then commented on his post, stating that he received the pizzas by sharing the same pictures. You can start bitcoin trading by visiting the BitPrime Gold website.

How did he procure two pizzas?

It is fair to say that this man loved pizza, and it would remain an understatement to claim this. Once he could carry out the successful exchange, he posted 10K BTC with the enormous pizzas staging that he got an open offer for the same. Later in August, many people known to him ordered pizzas for him as he informed in his tweet that he could not mine so many pizzas to keep calling for him. Hence this made many users get access. Hanyecz was flooded with pizzas by his friends and even those who followed him on social media. The thread kept increasing, and many people commented until a user known as r-buck was able to post one message asking if the pizzas would become a multimillion pizza one day and thus make history. However, no one believed this user as everyone felt that the coin price would always remain too trivial to make these pizza multimillion-dollar pizzas.

After a few months, when this post was becoming viral on one of the social media forums, Bitcoin has witnessed a massive surge in recent times. As of now, if we check the cost of 10K BTCs in today's financial market, the price could be a whopping 291 M USD, which is massive at the moment. However, this was not the point, as Hanyecz was only interested in carrying out the transaction to procure pizza. He found some offer; he mined the coins and tried procuring them on 18th May 2010. It took so many days for him to get the pizza on the weekend. It made his day, and he announced that he could gain two pizzas for free that were worth 41K USD.

Why the celebration?

The celebration is for many reasons, but primarily for the first transaction for procuring any food product in the market like pizzas. Today, many people call that guy a complete buffoon and ask why he wasted that much on earth buying two pizzas. However, if you think this way and find things going beyond your control, you will miss the importance of this monumental event in the market. He confessed in his interview that people call him naive and an idiot for losing so much money. But then he says that using those coins made him realise that they had value and could bring him two pizzas.

Bitcoin Pizza Day may appear a fantasy to many, but with the availability of the document in the market to many more similar things like the forum post, the photos of those multimillion pizzas on the web are a clear indication that this monumental event has occurred. Even Hollywood would fail to write such a script. They would know how such a big deal was missed by an ordinary man who did something extraordinary in this world. So, with all these reasons, we see Bitcoin worldwide celebrate this big day only to commemorate the moment on this day.

Wrapping up

The day came around 12 years ago, but it took time to get the celebration with a holiday in the US and other places that love the coin. We will see the celebration growing and extending with the passing day. It seems to be a ray of hope for many, and it will continue to win significantly in crypto circles.

Iram Martins | Personal trainer. Aspiring sommelier. Brunch critic who works part-time. When I'm not competing, you'll find me at dog beaches with my black lab or sipping drinks at the best bars in town. I like to fly a lot.

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