Bitcoin Pizza Day: a pizza purchase for 10 thousand Bitcoins
By May 22 marks Bitcoin Pizza Day, a tribute to programmer Laszlo Hanyecz, who in 2010 exchanged 10,000 bitcoins for two pizzas. This transaction stands as the inaugural real-world purchase using virtual currency. Presently, this pizza is valued at over 900 million dollars based on the current exchange rate.
Bitcoin Pizza Day
Hailing from Florida, Laszlo Hanyecz paid 10,000 BTC for a pair of pizzas valued at $25 each from Papa John’s 14 years ago. Seeking two standard, without any exotic toppings like fish, he posted a request on a cryptocurrency forum on May 18. At that time, he offered bitcoins equal to $40 in value.
Laszlo remembers that he put forth an offer of such a colossal sum in the anticipation that someone would respond. Jeremy Sturdivant, a young individual residing on the opposite side of the nation, became the counterparty in this transaction.
Just prior to this moment, Jeremy had no inkling that he would be receiving substantial amounts of money. Consequently, both parties were content with the transaction, which marked the inaugural acquisition in the annals of bitcoin.
In the annals of the digital currency realm, Laszlo Hanyecz gained notoriety for squandering millions on pizza, yet his sacrifice played a pivotal role in kickstarting the proliferation of this virtual currency worldwide. And now, on this fateful day of May 22nd, Bitcoin Pizza Day is commemorated across the globe.
A programmer from Florida engaged in bitcoin mining for sheer amusement wound up splurging all his earnings on various trifles even before the sudden surge in the cryptocurrency exchange rate. Yet, the foregone millions failed to evoke any sense of regret within him. In 2018, Laszlo opted to exchange his bitcoins for two large pizzas, but this time around, the cost of the order was a mere 0.00649 bitcoin ($67). Similarly, Jeremy Sturdivant’s dream of becoming a millionaire remained just that – a dream. The funds he acquired from the pizza deal were promptly expended on a romantic getaway with his lover across the United States.
The originator of GPU mining
Coder Laszlo Hanyecz commenced excavation in late 2009 upon being introduced to bitcoin. Formerly, he was actively engaged in formulating the original Bitcoin Core for macOS prior to transitioning into excavation. Hanyecz initially broached the topic of GPU excavation in May 2010, opting to conduct it as an experimental venture. During that era, exclusive central processing power (CPU) was utilized for bitcoin excavation. No initiative had been undertaken at the time to pioneer more efficient technologies for hash generation.
Laszlo Hanyecz made a significant observation that the visual capabilities provided by video cards outperform those of central processing units, making them ideal for bitcoin mining. This revelation, brought to light by the skilled programmer, displayed great potential. The efficiency of hashing was magnified by a factor of 10.
Nevertheless, the founder of bitcoin didn’t show much excitement towards this new breakthrough. Following Hanyecz’s sharing of the GPU mining code with Satoshi Nakamoto, it was deemed too complex for bitcoin implementation.
Following his decision to discontinue further promotion of his concept, Laszlo Hanyecz’s creation continued to evolve. He opted to share his code on the open Bitcointalk forum, allowing fellow community members to craft their own adaptations for Windows, Mac, and Linux. Despite his initial intention to keep the code a secret, Hanyecz ultimately shared it openly, contributing not only to the advancement of Bitcoin Core technology for macOS and GPU mining but also sparking a wave of humorous pizza-related memes. While these memes may not hold the same weight as other developments in the realm of Bitcoin, they have undeniably left a lasting impression, ensuring that each May 22 is commemorated with fond memories.
Holiday involves not just fun, but also presents!
Bitcoin Pizza Day is getting more popular each year, with an increasing number of individuals and businesses hosting festivities for their employees, arranging raffles and online activities, and issuing pizza-themed tokens and NFTs in the realm of cryptocurrency. To commemorate this occasion, the Papa John’s pizza chain offered the chance to receive up to 10 thousand complimentary pizzas. NFT markets offer the opportunity to acquire visuals, photos, and other tokens dedicated to the celebration of Bitcoin Pizza Day.
Numerous holiday-themed items are readily available on e-commerce platforms. For instance, one can purchase a T-shirt or a mug adorned with a charming message and an illustration of a delectable treat.
Frequent competitions and giveaways are commonly found on cryptocurrency websites that are associated with the festive season. Winners typically receive a complimentary pizza. Certain platforms also offer the chance to win a free pizza subscription on a monthly basis. Generally, participants are required to cleverly answer a question, invent a fresh meme, or accurately predict the bitcoin exchange rate on May 22nd with a touch of humor.
Starting from 2017, Bitcoin Pizza Day has quickly risen to fame as a prominent occasion on the cryptocurrency scene. The catalyst for its popularity stemmed from an intriguing tale of a notorious transaction unearthed from the depths of the blockchain records.
