Introduction
The event went down in history, as the two pizzas were bought for 10,000 BTC 14 years ago. Laszlo Hanyecz, a programmer, ordered two large pizzas from Papa John’s, a local vendor. The programmer paid 10,000 BTC for two large pizzas, instead of paying in cash or using a credit card. Hanyecz knew this would be the first-ever real-world crypto transaction, which sounds silly but goes deep and remains intact forever.
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What is Bitcoin Pizza Day?
The crypto community observes Bitcoin Pizza Day on May 22 as an annual celebration. Laszlo Hanyecz, the man behind the story, is a Bitcoin miner and programmer from Florida who plays a vital role in BTC development. In the previous days of the first Bitcoin halving event, the miners received 50 BTC as a reward for each new block they discovered. The programmer must be mined 200 blocks to receive 10,000 BTC. During that time, BTC mining could have been more competitive.
Hanyecz is marking a notable event in Bitcoin’s history and had an idea to exchange his Bitcoin holdings for two large pizzas. He posted an offer in the Bitcointalk forum 2010 seeking to buy pizza in exchange for Bitcoin. He also specified that he would send 10,000 BTC to those who would like to take the order and deliver two Papa John’s pizzas for him. After four days, someone takes his order and accepts Laszlo’s offer. This made the history of those who use Bitcoin as a medium of exchange for real-world transactions, which makes history.
Laszlo Hanyecz: The Man Behind the First BTC Transaction
Laszlo Hanyecz recreated a noteworthy position in Bitcoin’s software development, contributing to its advancement in various ways. One significant gift was coding a program that qualified crypto traders to mine BTC using their computer’s graphics cards. He also provides the Bitcoin logic for Mac OS for the first time. Hanyecz shared his remarkable accomplishment with Satoshi Nakamoto and the wider Bitcoin community. Satoshi acknowledged Hanyecz’s contribution to the groundbreaking revelation. Satoshi already knew about GPU mining and knew that his effectiveness prevented 51% of attacks. Hence, Hanyecz has continued to make similar purchases over the years using Bitcoin.
Did You Know the value of 10,000 BTC today?
10,000 BTC = $710,000,000
Jeremy Surdivant: The Man Who Accepted Bitcoin
It is significant to know that Jeremy Sturdivant, also known as Jercos, was involved in the BTC pizza transaction other than Hanyecz and Papa John’s. He received 10,000 BTC and played a vital role in receiving BTC and purchasing pizzas. On May 22, 2010, the entire value of the Bitcoin pizza transaction was $41. The person who honored the agreement by buying the pizzas was only 19 years old at the time of the transaction. He delivered the pizzas to Hanyecz’s residence in Florida. Jeremy Sturdivant did not know the future value of Bitcoin, and he later spent the coins to cover payments related to a business trip. Jerco expressed his thoughts on the amount of BTC with the “Bitcoin Who’s Who” publication in 2013 as he unknowingly possessed.
Legacy and Reflections
Hanyecz and Sturdivant have reflected on their roles in this landmark event with a sense of humor and historical appreciation. Hanyecz has expressed no regret, viewing his purchase as necessary to prove Bitcoin’s utility. On the other hand, Sturdivant recognizes the missed financial opportunity but values the historical significance of his involvement.
In summary, the first Bitcoin transaction between Laszlo Hanyecz and Jeremy Sturdivant was a small-scale exchange that had an outsized impact on the perception and future of digital currencies. It underscored Bitcoin’s potential as a medium of exchange and the early experimental phase of its development.
FAQ
Did Jeremy Sturdivant keep the Bitcoin?
On May 22, 2010, Jeremy Sturdivant received 10,000 BTC for delivering the pizzas to Hanyecz’s residence in Florida. At that time, he did not know the future value of Bitcoin, and he later spent the coins to cover payments related to a business trip.
Who paid 10,000 Bitcoin for pizza?
Laszlo Hanyecz posted an offer in the Bitcointalk forum in 2010 seeking to buy pizza in exchange for Bitcoin. He also specified that he would send 10,000 BTC to those who would like to take the order and deliver two Papa John’s pizzas for him.
Is the Bitcoin pizza story real?
Yes, the Bitcoin pizza story is an actual event. It reflects the first Bitcoin transaction between Laszlo Hanyecz and Jeremy Sturdivant for two large Papa John’s Pizza with 10,000 BTC.
Who sells Bitcoin for pizza?
On May 22, 2010, Laszlo Hanyecz paid Jeremy Sturdivant 10,000 bitcoins (BTC) for two Papa John’s pizzas delivered to Hanyecz’s home in Florida.
What did Papa John’s do with 10,000 Bitcoin?
Papa John’s is not the actual person to receive BTC, but the person Jeremy Sturdivant received 10,000 bitcoins from Laszlo Hanyecz to deliver the order for two large Papa John’s pizzas.
How much did Laszlo Hanyecz’s pizza cost?
On May 22, 2010, Bitcoin was just a one year old; Laszlo Hanyecz bought two large Papa John’s pizzas for 10,000 BTC from Jeremy Sturdivant.
Who is the infamous Bitcoin pizza guy?
It is significant to know that Jeremy Sturdivant, also known as Jercos, was involved in the BTC pizza transaction other than Hanyecz and Papa John’s. He received 10,000 BTC and played a vital role in receiving BTC and purchasing pizzas. On May 22, 2010, the entire value of the Bitcoin pizza transaction was $41.
How much Bitcoin was used to buy a pizza?
For the two pizzas, the Laszlo Hanyecz paid 10,000 bitcoins, which, as of Sept. 11, 2023, are worth over $250 million.
How much was 1 BTC worth when the pizza was bought?
At the time of the exchange, 10,000 BTC could be purchased for around USD 41. It means that an individual bitcoin was worth about USD 0.004 at the time of purchase.
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