10000 Bitcoins – BTC for Two Slice Pizza? Who is Laszlo Hanyecz? Bitcoin Pizza Day

Crypto Update
3 Min Read

10000 Bitcoins – BTC for Two Slice Pizza? Who is Laszlo Hanyecz? Bitcoin Pizza Day

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  • The crypto community is celebrating its tenth ‘Bitcoin Pizza Day’ on May 25, 2020.
  • The day marks the anniversary of the first-ever documented purchase using bitcoin.
  • Laszlo Hanyecz bought two Papa John pizzas worth $30 for 10,000 BTC in 2010.

Laszlo Hanyecz had no idea that he was about to hand over millions of dollars for just two Papa John pizzas ten years ago.

The computer programmer, who had just started using his laptop to run the Bitcoin network, a peer-to-peer electronic cash system launched in 2009, earned rewards for his contribution in the form of the network’s local currency of the same name. He later decided to use his digital winnings as an alternative to cash.

Hanyecz posted an ad on bitcoin-specific chart forum, BitcoinTalk.org, whose title read “Bitcoin For Pizza.” He offered to purchase two pizzas for 10,000 BTC. For the first two days, nobody responded. On the third, Hanyecz has a merchant interested in trading his services for the History of bitcoin cryptocurrency.

Bitcoin Pizza ad from 2010 | Image Source: BitcoinTalk.org

Ten Years Later

Fast forward to the present day, Laszlo Hanyecz is a celebrity among bitcoin enthusiasts. Because the bitcoin tokens he handed over for those two Pizzas are now worth nearly $100 million.

Bitcoin Pizza Day

More Bitcoin Pizzas

Hanyecz has become a supporter of Bitcoin’s use as a viable payment system. The crypto celebrity in February 2018 year used the Lightning Network – an additional layer atop the Bitcoin blockchain to speed up transaction flows – to deliver two pizzas for his friend in London. At that time, Hanyecz paid 0.00649 BTC worth $67.

Who is Laszlo Henyecz?

Programmer Laszlo Hanyecz made history when he made the first “real world” purchase with Bitcoin more than a decade ago. He even coded a program that made it possible for fans to mine the currency using their computer’s graphic cards (GPU).  Mr Hanyecz, who is now 39, estimates he spent 10,000 Bitcoins, a currently equivalent of 3.7bn on pizza alone.

How many Bitcoins did the Pizza Cost?

In 2010, Laszlo Hanyecz spent 10000 Bitcoins at a local pizza restaurant called Papa John’s to buy himself two pizzas.

Bitcoin Pizza Day

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