Bitcoin Pizza guy: The hero we don't deserve

22 May, 2019 | Updated: 22 May, 2019
by Will Heasman
Bitcoin Pizza guy: The hero we don't deserve

Bitcoin pizza guy is often mocked for buying 2 Pizza’s for 10,000 BTC, there’s a day named after him, where we all remember the event for the wrong reasons. Bitcoin Pizza Guy is a hero…. This is his story.

Today marks the infamous celebration, known as #PizzaDay, a day in which crypto fanatics all over the world celebrate the anniversary of the purchase of what is now the worlds most expensive pizza. However, all too often headlines get caught up in the spectacle of laughing at was is deemed a ‘bad investment,’ rather than a brave pioneering step into the future of finance…

Extra pepperoni, please…

On the 22nd of May 2010, a programmer by the name Laszlo Hanyecz paid a Bitcoin Talk forum user 10,000 BTC for two pizzas from papa johns. The USD equivalent back then was around $40, at today’s prices however the pizzas would cost approximately $ 79,7 million at current prices.

It all started on the Bitcointalk forum where Hanyecz fairly causally offered anyone in the thread entitled “Pizza for Bitcoins?” 10,000 BTC for a couple of pizzas;  specifically asking for 2, because he fancied leftovers…

“I like having left over pizza to nibble on later,” Said Hanyecz “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.”

Funnily enough, one member of the thread pointed out that 10,000 BTC was “quite a bit” to spend on pizza:

When no one responded to his request, Hanyecz wondered if he wasn’t offering enough BTC:

(the irony hasn’t escaped us…)

When asked why he was doing this, Hanyecz, simply replied:

“I just think it would be interesting if I could say that I paid for a pizza in bitcoins … I just want to report that I successfully traded 10,000 bitcoins for pizza.”

And that’s exactly what he did, soon thereafter someone took the offer up and Hanyecz posted the results: 

Incredibly just a few months later in November, the pizza was already worth $2600 as BTC rapidly rose in value, and members of the thread started asking questions such as, “will this eventually become the world's first million-dollar pizza?.”

Regardless of price, Hanyecz is a hero and a pioneer, one of the first believers in Bitcoin as a medium of exchange, and the first person to ever make a goods trade using Bitcoin. 

It's better to have Bitcoin and spend it on pizza than never have had Bitcoin at all…

You know that phrase? No? either way this is a point that has been made by a few within crypto space today.

Even Binance boss Changpeng ‘CZ’ Zhao got involved suggesting that anyone who didn't buy bitcoin back in 2010 should feel just as bad as they suppose Hanyecz felt:

One Twitter user also noted that if people like Hanyecz didn’t utilize Bitcoin for its intended purpose then it wouldn’t have grown half as massive.

So, there we have it, yet another Pizza day, come and gone. let’s all raise a pizza slice to Hanyecz, truly one of the first pioneers of Bitcoin…

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