Do you know the first Bitcoin Transaction Was For Pizza!😱(must read once!!)

in #bitcoin7 years ago

On May 18, 2010, Laszlo Hanyecz posted on a forum for Bitcoin: Bitcoin Talk. At the time, Bitcoin was still in its infancy. It was incredibly volatile, and each Bitcoin was worth only a few pennies on the dollar. Hanyecz’s post was for two Papa John’s pizzas that he said he would pay 10,000 bitcoins for. This transaction would go down in Internet history as the first time that Bitcoins were actually used to buy something.On May 22, Hanyecz posted that someone had taken him up on the offer. At the time, he just thought it was cool that he could get pizza for seemingly nothing. Hanyecz continued to buy pizza with Bitcoins until the summer when he ran out of Bitcoins. He didn’t give any of this a second thought because he believed—as many others did at the time—that Bitcoin was never going to actually go anywhere as an Internet currency.For the next few years, it seemed that what everyone thought about Bitcoin was true. But in 2013, investors and speculators became interested in Bitcoin and began to trade it on a much larger scale. Soon, the value of Bitcoin began to skyrocket as it became a popular commodity. In the coming months, one Bitcoin went from being valued at a few pennies to $1,200. It finally settled between $500 and $700. If Hanyecz had spent 10,000 Bitcoins in mid-2014 on two pizzas, they would have been worth around $5 million.
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