The Infamous 10,000 BTC for 2 Pizzas Deal: A Cryptocurrency Historical Event
In the early days of cryptocurrency, a peculiar transaction took place that would later become a legendary anecdote in the bitcoin community. On May 22, 2010, a user named Laszlo Hanyecz offered 10,000 BTC (bitcoin) in exchange for two large Papa John's pizzas. At the time, this deal seemed like a ridiculous overpayment, but in hindsight, it's staggering to consider the value of those pizzas today.
The Birth of the Bitcoin Forum
The story begins on the online forum Bitcointalk, created by Satoshi Nakamoto, the pseudonymous founder of bitcoin. The forum served as a hub for bitcoin enthusiasts to discuss the cryptocurrency, share ideas, and collaborate on projects. Laszlo Hanyecz, a computer programmer and early bitcoin adopter, was an active member of the forum.
The Pizza Offer
On May 22, 2010, Laszlo posted a message on the forum, offering 10,000 BTC to anyone who could get him two large Papa John's pizzas delivered to his doorstep. The equivalent value of 10,000 BTC at that time was approximately $25. The post read:
"I'll pay 10,000 BTC for a couple of Papa John's pizzas... If you're interested, please respond with your Papa John's order, and I'll send you the BTC."
The Deal is Struck
A fellow forum member, jgarzik, took Laszlo up on his offer. Jgarzik ordered the pizzas and received the 10,000 BTC as promised. The transaction was recorded on the bitcoin blockchain, marking one of the first real-world uses of the cryptocurrency.
The Aftermath
As the bitcoin community grew and the cryptocurrency's value skyrocketed, the infamous pizza deal became a symbol of the early days of bitcoin. In 2011, the value of 10,000 BTC reached $100,000, and by 2017, it had surpassed $100 million.
Laszlo has since spoken about the deal, stating that he didn't think twice about it at the time, as he was more interested in showcasing the potential of bitcoin as a form of payment. He has also joked about ordering more pizzas if he had known the value of those BTC would appreciate so dramatically.
The Legacy of the 10,000 BTC Pizza Deal
The story of the 10,000 BTC pizza deal serves as a reminder of the humble beginnings of bitcoin and the cryptocurrency space. It highlights the power of online communities and the early adopters who drove the development of this revolutionary technology.
Today, the deal is often referenced as a prime example of the volatility and potential of cryptocurrencies. It also serves as a lighthearted anecdote, humanizing the often-serious world of cryptocurrency and blockchain.
So, the next time you order a pizza, remember the story of Laszlo and his 10,000 BTC, and maybe, just maybe, you'll think twice about the value of your meal.
