Every world-changing technological shift has a watershed moment, one instant in time where it takes that first step from the unknown towards becoming a worldwide phenomenon. The first time someone made a mobile phone call, the first time a piece of data was sent across the internet, the first time someone played casino games online. Each of these represents one of those moments.
May 22nd is another of these meaningful moments, as it is the first time that Bitcoin, a then barely understood piece of blockchain technology, was used to transact online. Join us as we celebrate the day that is known around the world as Bitcoin Pizza Day!
The Day Papa Johns Became Part of BTC History
With cryptocurrency exchanges and the platforms like the Lightning Network, transacting online with BTC is a much simpler process today than it was back in 2010 when an early Bitcoin miner and crypto evangelist Laszlo Hanyecz, had the idea to trade the virtual coins he had mined, for two real-world pizzas.
Thankfully for us, he went to a Bitcoin forum to find someone who would assist him in making his “fun idea” come to pass.
On May 18th, 2010, at 35 minutes past midnight, Laszlo (his forum username) created a forum thread titled “Pizza for Bitcoins”, where he posted the following:
“I'll pay 10,000 bitcoins for a couple of pizzas... like maybe 2 large ones, so I have some leftover 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!”
Even at the time, Laszlo was seen by some as wasting the potential of his Bitcoin, as one user responded to his post saying that he would be better off selling the coins as they are worth $41 on a Bitcoin market.
Laszlo confirms in a later post that he is aware of the value of the digital tokens, confirming that the order would cost whoever joined him in this crazy experiment about $25-$30 but adding that he would like to give the delivery guy a good tip.
Despite starting the thread in the early morning hours, it would not be until 5:17 PM that Laszlo could post, announcing that he had completed his mission. His simple comment, "I just want to report that I successfully traded 10,000 bitcoins for pizza", would catalyse financial change, unlike anything the world has ever seen.
Pizza Kicked Off the Bitcoin Boom
The thread would become incredibly popular with technology lovers and early crypto enthusiasts, generating thousands of views quickly. It also kicked off an excitement for Bitcoin that would see the market-leading alternative currency climb in value at an exponential rate.
When Laszlo posted in May 2010, his coins were valued at the top end at $41. By August 2010, a member of the Bitcoin Forum, KnightMB, posts a response to the thread saying that “$600 is a great deal for pizza”.
By November 2010, forum member Bitcoinex responded that it was a great deal as now it meant he would have to “eat pizza for $2600”!
With the power of history on our side, we know that the surge in Bitcoin’s value would continue unabated for another seven years, where it would peak at around $19,650 in December 2017.
However, by 2019 the token would have retreated below $4000 BTC until March of 2019, when it would begin an incredible two-year resurgence to finally peak at a jaw-dropping $ $68,789.63 BTC in November 2021.
At its peak, Laszlo’s Papa Johns order would be worth nearly $690,000,000, making it the world's most expensive meal by a landslide. At least, as he says in his post, he had “leftover pizza to nibble on later”, making it worth every Satoshi.
Buying Pizza Online Is Much Easier Now
Thanks to those early pioneers of Bitcoin banking gambling with their crypto, we can now order a pizza online as quickly as we send an email. Back then, it was like spinning a slot machine and hoping for a positive outcome. Now the Lightning Network specifically facilitates micro-crypto transactions making it possible for users to buy anything from multiple pizzas to a single coffee using Bitcoin any time of the day or night.
Services like BitPay offer apps like Menufy, which allows crypto-lovers to purchase food online from multiple vendors, including Papa Johns. The process is the same as you would follow to fund your crypto casino account. Open a new account, select the wallet you want to use to fund your account and then transfer the crypto.
Whether you are looking to eat a hot slice of pepperoni pizza or play your favourite online slot, thanks to the incredible speed of the blockchain, you will be ready for action moments.
Why not look up your favourite eatery and celebrate Bitcoin Pizza Day with a crypto takeout of your own?