Cryptocurrency is becoming popular with each passing day. Bitcoin is a type of virtual currency which is mainly used in online transactions but some physical stores also accept Bitcoin in exchange for their goods and services. A programmer bought 2 Papa John’s pizzas in 2010 by paying 10,000 Bitcoins which now values more than $80 million. More than 6 million pizzas can be bought with the same amount now.
The #Bitcoin pizza is worth $83,131,600 today. (-2% from yesterday) Today is Bitcoin pizza day!
— Bitcoin Pizza 🍕 (@bitcoin_pizza) May 22, 2018
Every year, crypto lovers celebrate this trade as Bitcoin Pizza Day on May 22. Laszlo Hanyecz didn’t expect that cryptocurrency will become such a big thing and he has even accepted this in an old interview in which he said: “It wasn’t like bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool.”
Laszlo wanted to buy some pizzas in exchange for the Bitcoins he had earned from mining. So he posted about this on a cryptocurrency related forum website Bitcointalk. He wrote:
“I’ll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day. I like having leftover pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I’m aiming for is getting food delivered in exchange for bitcoins where I don’t have to order or prepare it myself, kind of like ordering a ‘breakfast platter’ at a hotel or something, they just bring you something to eat and you’re happy!”
A user with the account name of jercos accepted this offer and ordered 2 pizzas in exchange for 10,000 Bitcoins. No one knew that the value of this deal will become $82 million.
Bitcoin was created by an anonymous creator named Satoshi Nakamoto who wanted to make a financial system which is completely transparent. For this, blockchain technology was introduced.
It was not much famous in early days due to its volatility in prices but 2017 saw a big rise in the popularity of Bitcoin as there are multiple options where one can spend BItcoins. Other than Bitcoin, other cryptocurrencies such as Ripple, Litecoin, and SwiftCoin are also getting popular.
Hanyecz now works on Lightning Network, a technology that is similar to blockchain and aims to speed up transactions.