In the bitcoin society, there are two important dates investors keep in mind. That is January 3rd, 2009 when Satoshi mined the genesis block and on May 22nd, 2010. On May 22nd, 2010 was the day that Laszlo Hanyecz bought two pizzas for 10,000 BTC. Eight years later, this has become a part of bitcoin’s mythology.
On May 18, 2009, Lazlo released published a thread on the Bitcointalk forum which he gave the title Pizza for bitcoin? It, Laszlo detailed “I’ll pay 10,000 bitcoins for a couple of pizzas… like maybe 2 large ones so I have some left over for the next day. I like having leftover pizza to nibble on later. 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, kind of like ordering a breakfast platter at a hotel or something, they just bring you something to eat and you’re happy!”
Laszlo also noted a list of his favorite toppings, before stating “just standard stuff on weird fish topping or anything like that.”
A couple of days later (May 22nd) he had a buyer and the deal was completed. This is seen as a symbolic event, not due to the value of 10,000 BTC today but because it was the first time Bitcoin was being used publicly as a means of payment. Just like how the value of BTC has been growing over the years, the pizza thread has also been growing. It is currently it has up to 73 pages and has been viewed around 750,000 times.
Since 2010, every year on the 22nd of May the bitcoin community now competes to dispatch the best pizza tweets and branded products. Bitstamp, a bitcoin exchange based in Luxembourg, calculated how far $83 million worth of pizza would stretch, using the following formula:
- 10,000 BTC * 8,400 USD (1 BTC) = 84 million
- 84 million USD / 15 USD (1 pizza price) = 5.6 million pizzas
- 5.6 million pizzas * 14 inches (diameter of a large pizza) = 1237 miles
- 1237 miles / 238 miles (average altitude of the ISS) = 4.9
Ledger, a hardware wallet manufacturer has created a limited edition Pizza Day Nano S. Just 1,337 units will be issued, each one coming in a special Laszlo’s Pizza box complete with a sachet of red chili pepper oil, for those who like to spice up their cold storage.