Bitcoin Pizza Day

History of Bitcoin Pizza Day

Bitcoin Pizza Day takes place on the anniversary of the day the cryptocurrency was first used to pay for goods. On May 18th, 2010, Laszlo Hanyecz of Florida posted on the bitcointalk.org forum, offering 10,000 bitcoins in exchange for some pizza, in part saying, "I'll pay 10,000 bitcoins for a few pizzas. like maybe 2 large so I have some left over for the next day." His call was answered, and on May 22nd, 2010, he posted, "I just would like to report that I have successfully traded 10,000 bitcoins for pizza." A teenager named Jeremy Sturdivant, who used "jercos" on the forum, sent Hanyecz two Papa John's pizzas and received 10,000 bitcoins in return. Sturdivant paid about $25 for the pizza, and the 10,000 bitcoins he received became worth $41.

The events of the first Bitcoin Pizza Day were epic as they paved the way for the future use of the cryptocurrency. Nine months after the transaction, the total value of bitcoins is $10,000, which means that each bitcoin is worth one dollar. On the 5th anniversary, the value of 10,000 bitcoins increased to about $2.4 million. At one point in 2017, the value rose to more than $100 million. As of September 2018, one bitcoin is valued at around $6,000, which means the value of 10,000 bitcoins used to pay for the pizza would be around $60 million.

The history of bitcoin dates back to the early 2000s, when efforts were made to create a cryptocurrency, although none were fully developed. In 2008, an article titled "Bitcoin: A Peer-to-Peer Electronic Cash System" was posted online. Later, bitcoin had beceom the first cryptocurrency. Its software was made available to the public and it began to be exploited. Mining is "the process by which new bitcoins are generated and transactions are recorded and verified on the blockchain." With Hanyecz's purchase of goods on the first Bitcoin Pizza Day, bitcoin gained a specific monetary value - up until that point, it had only been mined. Rival cryptocurrencies, commonly referred to as altcoins, soon emerged. They are often created to try to improve one aspect of bitcoin. The original altcoins were Litecoin and Namecoin, and there are now more than 1,000.

In 2013, the value of bitcoin hit $1,000, but then dropped to around $300. It took a few years to recover. Over time, as it can be spent in more places, bitcoin's popularity continues to grow, so does its value. Time will only tell whether the value of bitcoins will continue to rise, but on Bitcoin Pizza Day we can all remember the date of the first cryptocurrency transaction for a commodity and the value of one. How deals for two pizzas each grow to more than 100 million dollars .

How to celebrate Bitcoin Pizza Day

The best way to celebrate Bitcoin Pizza Day is to buy some pizza with cryptocurrency, bitcoin is the best fit. In previous years, a number of payment sites offered discounts on pizza to those who bought with bitcoin. PizzaForCoins is a website that people have used to order pizza with cryptocurrency in the past. Some restaurants also accept cryptocurrencies, and you can buy a pizza at one of them today.

If you don't have bitcoins to buy pizza, you can get some or another cryptocurrency. To better prepare for dealing with cryptocurrencies, you can take an online course or read current bitcoin news. If nothing else, you can celebrate the day by ordering some pizza and checking out the Bitcoin Pizza Twitter page.