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Bitcoin Pizza day
BITCOIN Pizza Day is a special day in the cryptocurrency world, marking the first full transaction for services using the digital currency. The market has been steadily increasing in the last few days, but where did it all begin? What is Bitcoin Pizza Day?
By OWEN GOUGH
Bitcoin celebrates its heritage today, as the cryptocurrency world remembers the very first transaction made with bitcoin back in 2010.
The important milestone was the first baby-steps in the digital token’s journey, as it struggled to become a legitimate decentralised currency.
Eight years ago, 10,000 bitcoin could buy two pizzas delivered to your door, today 10,000 bitcoin would net you £82.3 million (£61.3 million).
Bitcoin is trading today at $8,259 as the market creeps up to the heights seen in 2017.
What is Bitcoin Pizza Day?
Eight years ago today, Laszlo Hanyecz, a Florida-based programmer, become enthused with the new concept of cryptocurrency, particularly bitcoin.
Taking the plunge, Hanyecz posted a forum thread claiming he would pay someone 10,000 bitcoins to order and deliver two pizzas from a local Papa John’s Restaurant.
Hanyecz said in the thread: “I’ll pay 10,000 bitcoins for a couple of pizzas…I like having leftover pizza to nibble on later.”
It is thought that this transaction was the very first time bitcoin was used in an exchange for goods and services, enshrining it as a legitimate and working currency.
Bitcoin pizza day: What is bitcoin pizza day and why is it celebrated?GETTY
Bitcoin pizza day: What is bitcoin pizza day and why is it celebrated?
Hanyecz said in a 2013 interview with The New York Times: “It wasn’t like bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool. No one knew it was going to get so big.”
In 2018, the pizza transaction is now celebrated, as the cryptocurrency market takes the world by storm.
The cryptocurrency is worth more than $8,000 today, with more than 17 million BTC currently in supply.
It used to be that bitcoin was traded between Dark Web trawlers and computer enthusiasts, exchanging hands for drugs and small-time cash deals on the internet.
Bitcoin has since exploded, with Wall Street heavyweights, celebrities and investors across the world buying up the coins.
On Bitcoin Pizza Day, some pizza restaurants have even let customers purchase their pizza using bitcoin, though for a much cheaper price than 10,000.
The cryptocurrency market has gone from strength to strength, increasing in price steadily in the last two years to reach $8,000 today.
Fundstrat CEO Tom Lee even claimed that bitcoin prices could exceed $20,000 in 2018, if the market continues on its current trajectory.
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