May 22, 2010, was a very normal day, until Laszlo Hanyecz, a man from Florida, decided to order two pizzas. Everyone may wonder how a man ordering two pizzas can have any significance or importance. The order he made was not the point that was significant, but the currency with which he paid for the order is the point that made history. Stick around to learn more about the 80 million pizza order.
This Florida-based man decided to order two large pizzas through an organized bitcoin talk forum, from Papa John’s Pizzas. He also made an offer to pay for the order through 10000 bitcoins. The man on the other end was a British man, and he decided to take the offer. Hanyecz spent only $25 to get two large pizzas. The 10000 bitcoins had a value of $41 at that point. So the guy who took the offer made a profit of $16 already.
The 80 million pizza order
This whole bitcoin-based transaction took place, just because Laszlo Hanyecz felt lazy to cook his own food one night. It was not the value of bitcoins at the time of the transaction that made this day a historical one, but the value of bitcoins that surged after a few years.
Only after 9 months after this transaction, the bitcoins had a value that was equal to that of a US dollar, which means that the two pizzas were worth $10000 at that point.
Credit: ahar.com
This became a huge deal, and then people were keeping track of the value of the two pizzas. They kept celebrating anniversaries of that day and named that day as Bitcoin Pizza day. On its fifth anniversary, the two pizzas were worth up to $2.4 million! On its eighth anniversary, the two pizzas were worth a whopping eighty-two million US dollars, a value that blew people’s minds away!
We hope you enjoyed this story of the famous Bitcoin Pizza Day[ the day when Laszlo Hanyecz paid 10000 bitcoins for two pizzas]. This story leaves us with many questions in your mind. One of the main questions relating to this story that needs answering is what is bitcoin and how it came into existence.
Bitcoin and its origin
Bitcoin is the most popular cryptocurrency in the world. One can say that bitcoin was what made the idea of cryptocurrency famous. Before the bitcoins, cryptocurrency was very dormant. It was considered as a currency used by people who deal with illegal products.
Bitcoin also faced a lot of backlash during the initial years, as it was being used mostly in black markets and illegal transactions. People also criticized bitcoin for its price volatility, high electricity consumption, and thefts from exchanges. Many economists, Nobel Laureates and financial experts, called bitcoin a speculative bubble.
Bitcoin is a cryptocurrency that is a form of decentralized digital currency. It doesn’t have a central bank or a single administrator controlling it. Bitcoin is usually transacted from one user to another through a secured bitcoin network, which has no middlemen. These transactions are verified through a process called cryptography. The blockchain is the ledger, where these transactions are recorded…
Bitcoin was invented in the year 2008 and was released to the public in the year 2009 with the release of the bitcoin as open-source software. The person or people who invented bitcoin are anonymous. They were popularly named Satoshi Nakamoto. If you ever wonder what is bitcoin, we hope these sections would have given you some clarity regarding the same.
Ways to buy bitcoins
After knowing the basics about bitcoin, one question that lingers in everyone’s mind is how to buy bitcoin? Before answering the question of how to buy bitcoin, let’s look at the things that are needed for buying bitcoins. Bitcoins are not physical currency; hence, they need a digital wallet for their storage.
So, the first thing one needs to have before buying bitcoins is a digital wallet. Then, they would have to present personal documents to register for a digital wallet to verify the identity. This is also the protocol to be followed as part of the anti-money laundering policy.
A secure internet connection is the next thing that you should have to buy bitcoins. If you don’t have a secure connection, all the information would be very easily available to hackers.
After making arrangements for the above requirements, you should ensure that you have a bank account, a debit card or credit card, with which you can buy bitcoins in exchange. These are the things one needs, to buy bitcoins without any hassles.
To buy bitcoins, the most widely-used method is to buy bitcoins from exchanges. Just like there are stock markets for buying stocks, bitcoins can be bought from exchanges. The best places to buy bitcoins or any other cryptocurrencies are Binance and Lbank Some other ways in which bitcoins can be bought are from bitcoins ATM and P2P exchanges.
How to make money with bitcoins and how to earn bitcoins faster
Now that we know buying bitcoins, let’s see how to make money with bitcoin and how to earn bitcoins fast. The easiest way to earn bitcoin quickly is by working with bitcoins rather than other currencies. One other way to earn bitcoins faster is by accepting interest payments in the form of bitcoins.
These are the two ways that answer the question, how to earn bitcoins fast. Bitcoin mining is the best way to make money with bitcoin. Next time, when you get the question, how to make money with bitcoin, you know what to do, don’t you?
Another major question is how to make money trading bitcoins? This is just like investing in any source of your choice. You choose to hold the investment for the long term or uses it for the short term to gain short term profits due to the speculation in the price. This is how to make money trading bitcoins. When you have mastered the art of dealing in bitcoins and making money out of them, there is absolutely no doubt that you will soon be able to afford one or a few of the 10 most expensive things in the world.
Conclusion:
In conclusion, the $80 million pizza order made on Bitcoin Pizza Day marked a significant milestone in the history of Bitcoin, representing the first recorded real-world transaction using cryptocurrency. While the transaction may seem trivial in hindsight, it highlights the rapid evolution of digital currencies and the potential value they can hold in the future. As Bitcoin and other cryptocurrencies continue to gain momentum, it’s important to remember the humble beginnings of its real-world use and the impact it could have on global finance.
Frequently Asked Questions:
Crazy pizza day activities?
Crazy pizza day activities can include:
1. Creative pizza-making contests.
2. Pizza-eating challenges.
3. Pizza-themed scavenger hunts.
4. Pizza relay races.
Other fun ideas include hosting a pizza-themed movie night, creating a DIY pizza topping bar, or even organizing a pizza-themed costume party. The possibilities are endless, and there’s no shortage of ways to celebrate this beloved food.
Is bitcoin bonus a legit company?
It is important to conduct thorough research before investing in any company, including Bitcoin Bonus. As of my knowledge cutoff date of September 2021, I have no information to confirm or deny the legitimacy of the Bitcoin Bonus. It’s crucial to exercise caution and do your due diligence to avoid potential scams and fraudulent activities.
Hello, my name is Idammah, and I am the founder of Wolfionaire.com, a personal development, and finance blog focused on motivation, success, and wealth. I am obsessed with studying the world's wealthiest individuals and learning about their path to success. I believe anyone can achieve their financial goals with the right mindset and strategies, and I hope to inspire and empower my readers to pursue their own path to success.
