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May has been quite unpleasant for cryptocurrency investors. Bitcoin is far from the expected performance. On the 22nd of the month, Bitcoin Pizza Day will be celebrated. Now let’s remember the story of the man who bought Pizza for 10 thousand Bitcoins. More interestingly, let’s learn that this is not the first purchase with Bitcoin.
Bitcoin Pizza Day
Bitcoin Pizza Day commemorated the first time Bitcoin was used to make a payment. Laszlo Hanyecz, an early Bitcoin user who paid with 10 thousand Bitcoins, made a trade in 2010 that he would regret in the future. At the time, the dollar equivalent of his payment was about $41, and Laszlo Hanyecz, who lived in Florida, thought he had made a good deal.
Block rewards were plentiful, and BTC was worthless 13 years ago as it was just being discovered. But today, 1 BTC can buy about 668 pizzas for the same price. If Laszlo had waited until 2023 to buy pizza with his Bitcoins, he could have bought 6.6 million pizzas. To finish these pizzas in 1 year, he would need to eat 18,300 pizzas a day. Laszlo, who could have been the first person to die while eating pizza, now regrets the pizza he bought in those days.
First Shopping with Bitcoin
The common story is the one above, and that’s why there is a pizza day on May 22nd. But the first purchase using Bitcoin (BTC) may not be the first pizza purchase on May 22. Sabunir, who wanted to experiment with Bitcoin transactions, posted on the forum that he was willing to sell a desktop wallpaper for 500 BTC (about $1 in 2010). Sabunir wrote on January 24, 2010;
“To buy the image, please send me the coins and then send me a Private Message stating when you sent it. I will reply to your Private Message with a link to the image. The image I am selling is my own design in 1280×960 resolution – perfect for a desktop background.”
Bitcoin founder Satoshi Nakamoto also joined the conversation to facilitate the trade.
Sabunir wanted to trade a JPEG for 500 Bitcoins A month after Sabunir’s post, the offer received less interest and so on February 9, 2010, he inquired about future initiatives to improve it. A forum user named SmokeTooMuch said he was not interested in spending money on wallpaper. However, on February 24, 2010, two entries to Sabunir’s wallet, one for 100 BTC and the other for 500 BTC, attract attention.
Probably the first trade using BTC was the sale of an image file on February 24.
