Bitcoin transactions are commonplace nowadays. Anyone can buy Bitcoin with credit card by opening an account on an exchange platform. And then use the coins to purchase an ever-expanding range of goods and services. The number of retailers accepting crypto payments is increasing by the day as digital currencies continue to gain ground in the financial market. Although this acceptance has fluctuated over the years. It was with companies going back and forth on their decision to include crypto in their operations. This is the general trend is toward embracing crypto as a mainstream form of payment.
However, there was a time when using Bitcoin as a medium for daily transactions was unheard of. 13 years ago, the public didn’t care much for Bitcoin or the concept of digital money. So the idea of buying something with Bitcoin wasn’t just unpopular, it was unfathomable for most people. That was until one day someone decided to swap their Bitcoin for two pizzas, marking a significant moment in the evolution of the cryptocurrency industry and changing the way people view digital assets forever. This event would go down in crypto history as Bitcoin Pizza Day.
On May 22nd 2023, the crypto community celebrated 13 years since this legendary transaction took place. As we’ve reached this figure that many consider unlucky, it is a perfect time to reflect on how far Bitcoin and the crypto industry have come since then.
Transaction to Remember for the Bitcoin’s 13th Pizza Day
The first real-world transaction involving Bitcoin has become an interesting anecdote over the years. But most people don’t know the details about what happened that day. It was 2010 and digital currencies were still a brand-new concept as Bitcoin had been launched one year prior. There were only a handful of crypto supporters who were interested in this novel technology. Also, there was Laszlo Hanyecz, a programmer from Florida, was one of them.
On may 18Th, Hanyecz decided to go on the Bitcointalk.org forum to make an unusual proposition. The Florida-based programmer announced that he was willing to pay 10,000 BTC to anyone who would bring him two large pizzas in exchange. At the time, one Bitcoin was worth approximately $0.40. So the 10,000 BTC that Hanyecz wanted to trade for the two pizzas amounted to $41.
Continuation of the Story
It was radio silence for a few days after the offer was posted on the forum. No one seemed interested in taking part in such a bizarre transaction. Many probably believed it was nothing but a joke so they didn’t pay much attention to it. However, there was one person who took Hanyecz at his word and decided to accept his offer. Jeremy Sturdivant, who went by the name username “jercos” on the BitcoinTalk forum, responded to Hanyecz’s request on May 22nd. The same day, he ordered two pizzas from Papa John’s. Then he delivered them to Hanyecz who made sure to document this historic transaction by taking a picture of him and his family enjoying the pizzas and posting it on the forum. So ended Hanyecz’s four-day quest to trade Bitcoin for pizza.
While the pizzas weren’t ordered directly from the restaurant as this happened years before businesses would even consider accepting crypto payments, the transaction remains an important milestone in the industry’s development. In 2010, no one could have guessed that Bitcoin’s value would skyrocket in the following years. If Hanyecz wouldn’t have spent those 10,000 BTC on two pizzas, they would have been worth a small fortune – approximately $690 million to be more precise, in November 2021, when Bitcoin reached its all-time high of $68,990. But then again, Bitcoin’s evolution may have looked differently if Hanyecz wouldn’t have made this initial step by conducting the first real-world crypto transaction.
Meaning Behind the Celebration
This intriguing transaction could have remained a fun story to tell at parties. Instead, it turned into a yearly event and a reason for celebration for crypto enthusiasts all around the world. So, what exactly are people celebrating on Bitcoin’s 13th Pizza Day? It’s certainly not pizza – although it is part of the menu at the festivities – or a food order that could have made someone rich today.
Pizza Day serves as a reminder of Bitcoin’s staggering evolution and the progress the crypto industry has made since its humble beginnings. It takes us back to a time when Bitcoin was pure potential and the world was still unfamiliar with the concept of digital currencies. Despite the challenges and the criticism received over the years, Bitcoin and the multitude of altcoins that followed in its footsteps continued to rise in popularity and push towards mainstream acceptance, and it all started with this inconspicuous transaction. Perhaps, the most important lesson we can draw from it is that patience pays off in life and in crypto.
Some History About Bitcoin’s 13th Pizza Day
In a 2019 interview, Hanyecz talked about how this transaction made crypto real for him and probably for the rest of the world. It was a first demonstration of Bitcoin’s potential as a means of exchange. And that made people realize that crypto might be more than just a fleeting fad. 13 years after this event, we can safely say that Bitcoin and altcoins have proved their value. Both as a store of value and a form of payment. Nowadays, digital currencies enjoy widespread acceptance from merchants, organizations and institutions all around the world. And crypto fans are grateful to Hanyecz and Sturdivant for taking a leap of faith and conducting that first transaction.
Like every year, Bitcoin Pizza Day celebrations included meetups, conferences and all sorts of events organized by the crypto community to commemorate this memorable event and create awareness about cryptocurrency. And obviously, there was plenty of pizza for everyone to enjoy. Given the yearly celebrations and people’s growing enthusiasm to take part in these festivities, we can conclude that 13 is certainly not an unlucky number for crypto and we look forward to seeing what lies ahead for this these highly promising assets.
Petr is a serial tech entrepreneur and the CEO of Apro Software, a machine learning company. Whenever he’s not blogging about technology for itechgyan.com or softwarebattle.com, Petr enjoys playing sports and going to the movies. He’s also deeply interested in mediation, Buddhism and biohacking.