Friday, February 21, 2020

Bitcoin Pizza Day: What It Is And What It Means For The Crypto Community

BTCNN
BTCNN
BTCNN aim to be the key source for both digital currency experts and newbies. With the cryptocurrency industry growing so fast we want to educate our readers about all the latest developments as they happen.

Today, on May 22, the cryptocurrency community commemorates Bitcoin Pizza Day, to remember the humble beginning of bitcoin and the unstoppable progress that all crypto community, and especially bitcoin has made since that day.

But, what is Bitcoin Pizza Day and why it means for the community? we must go way back, more than 7 years ago, to find that answer. On May 22, 2010, a programmer known as Laszlo Hanyecz made a proposal in the bitcoin talk forums. He wanted to receive a pizza and be able to pay it in bitcoin. Bitcoin was in the day almost unknown for normal people, and he wanted to de the first one to say that he had bought pizza with bitcoin. He even asked if the amount of bitcoin was too low at that time.

But he got what he wanted in the end. Another user of the forum, nicknamed Jercos, later identified as Jeremy Sturdivant, sent him two pizzas ordered from Dominos. He stated in the forums:

I JUST WANT TO REPORT THAT I SUCCESSFULLY TRADED 10,000 BITCOINS FOR PIZZA.

This constitutes the first purchase of goods with bitcoin that has been registered. But apart from that, it goes to show that then, the strive for adoption was even harder than it is today. Also, the value of that pizza purchase today is of more than 81 million dollars; but back in the day, no one could know that.

The bitcoin community celebrates this day to remember the first commercial transaction and that push for adoption from the early adopters. So to commemorate this day, bitcoin users order pizzas and pay with their cryptocurrencies, to remember this legendary transaction. But now, in some countries, charity events are being organized to give back to the people. That is the case of Argentina, where the NGO Bitcoin Argentina has organized a mock sale on its web page that sells pizza for charity.

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