#20 #BITCOIN 1st TRANSACTION
Almost 12 years ago, a Floridian programmer named Laszlo Hanyecz was craving pizza. So, he bought two. But the catch here is, that he paid in Bitcoin in the first-ever recorded real-world transaction using crypto.
Hanyecz announced on the Bitcointalk forum on May 18, 2010, that he planned to use Bitcoin to buy pizza, preferably two large pies. He was willing to pay 10,000 Bitcoin to anyone who could place an order, collect the cryptocurrency, and bring it to him.
Days passed and Hanyecz was still unable to find anyone who was willing to take up his offer. He was losing hope.
But then, on May 22, Jeremy Sturdivant, a 19-year-old at the time, started turning heads on the forum. He accepted the offer of 10,000 Bitcoin for two pizzas, valued at around $41 back then.
Sturdivant purchased the two pizzas and delivered them to Hanyecz’s place in Florida.
Laszlo Hanyecz posted on the forum that he had received the pizzas and shared the following photograph with his family.
Years later, Hanyecz recalls that day with a lot of regret. If he would have held those Bitcoins, they would have been valued at USD97524842505.56 today.
At the Bitcoin all-time high, those Bitcoins were valued at USD97524842505.56.
This early Bitcoin transaction throws light on the volatility of crypto and strengthens the argument that dynamic cryptocurrencies like Bitcoin are not a suitable medium of exchange.