This yr marks the ten-year anniversary of a Florida man and his “free” lunch. Properly, in his thoughts, on the time, he wasn’t paying for something; Laszlo Hanyecz was a programmer and a member of a quite area of interest group of lovers using the primary wave of a serious shift in emphasis on cryptocurrencies – specifically Bitcoin, which was barely one yr previous.
Whereas partaking in some mining of this primary type of digital cash and feeling a little bit peckish, Hanyecz determined to order some pizza – with bitcoin. Soliciting Bitcointalk, a Bitcoin-dedicated discussion board, he posed the next deal: “I’ll pay 10,000 bitcoins for a couple of pizzas … maybe two large ones so I have some left over for the next day.” Whoever would possibly take him up on the provide both may make it themselves and convey it to his home or order it for him from a supply place, however what he was in the end aiming for was “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!”
One British Bitcointalk person, jercos, took him up on his provide. He would order two giant Supreme pizzas from Papa John’s to have delivered to Hanyecz. That day – the 22nd of May 2010, in any other case often known as Bitcoin Pizza Day – has, a minimum of for Bitcoiners the world over, gone down in crypto-folklore not a lot for the transaction however extra the price. Hanyecz paid 10,000 bitcoin, which as we speak is worth over US $96 million.
That is maybe sufficient to induce delicate angina. And as one other Bitcoin person poignantly cautioned on the discussion board on the time, 10,000 bitcoin “is quite a lot” – the truth is, round $41 on one of many first Bitcoin buying and selling hubs, which implies even jercos received himself a cut price, paying $25 for the pizzas. Hanyecz, nevertheless, stays unphased. “I wanted to do the pizza thing because to me it was free pizza,” he defined. “I mean, I coded this thing and mined bitcoin and I felt like I was winning the internet that day. I got pizza for contributing to an open-source project. Usually hobbies are a time sink and money sink, and in this case, my hobby bought me dinner … I was like, ‘Man, I got these GPUs linked together, now I’m going to mine twice as fast. I’m just going to be eating free food; I’ll never have to buy food again.’” Truthful sufficient. Possibly.
Hanyecz would truly go on to acquire a number of extra pizzas through the years, spending about 50,000 bitcoin in whole on the Italian dish. Now, utilizing the historic most bitcoin price of $20,000, that will be a whopping US $1 billion. He has even recounted on one event being a little bit quick on bitcoin for the acquisition of two slices of pizza and persuading the vendor to promote him a single slice for six,000 bitcoin. “I wasn’t stingy with it. And I didn’t mind overpaying, or whatever,” he stated. Hanyecz seems to have remained unphased with zero regrets to go down as that ”Bitcoin pizza man” who spent $1 billion on pizza. To be honest, he makes a great level: “With 100,000 bitcoins, I would be [a billionaire] right now. But then I wouldn’t have gotten that pizza.”