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In Bitcoin Pizza Day, Bitcoin’s Real-World Potential Shines Through

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Happy Bitcoin Pizza Day! Four years ago, Bitcoin enthusiast and Florida resident Laszlo Hanyecz wanted two pizza pies, but wanted to pay with bitcoins. Little did he know that his hunger would help jumpstart bitcoin to the burgeoning virtual currency it is today. Whether or not you are celebrating Bitcoin Pizza Day today or not, the “holiday” is a stark indicator of just how mainstream Bitcoin has become. In 2010, the cryptocurrency was not a household name and most establishments didn’t accept it. Hanyecz offered 10,000 BTC for someone to buy him the pizzas, which at the time was about $40 USD. A follower in the UK ordered the pizzas for $25 and sent them over to Hanyecz, who in turn sent him some bitcoins. This has entered cryptocurrency legendas the first real-world bitcoin transaction. Today, those 10,000 BTC would be worth about $3 million, and last fall, when the value of a bitcoin peaked near $1300, they could have been worth more than $6 million. At the Bitcoin Center in New York City, Bitcoin enthusiasts are celebrating the Bitcoin holiday with pizza tonight, and two events over the next week. Before Hanyecz’s pizza party, Bitcoin was mainly seen as […]

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