🚨Here is Laszlo Hanyecz: The 10,000 BTC Pizza man
10 Years After Laszlo Hanyecz Bought Pizza With 10K Bitcoin, He Has No RegretsLaszo Hanyecz's 10,000 BTC pizza buy 10 years ago has a special place in bitcoin folklore, highlighting, however expensively, that participation is necessary for network success.
Hanyecz is known as the first person to use bitcoin in a commercial transaction. On May 22, 2010, when bitcoin was a little over a year old, he bought two pizzas for 10,000 BTC. The day is now known as "Bitcoin Pizza Day." With one bitcoin now worth $37000 this is apparently a joke and Hanyecz's $45 million pizzas are the punchline.
The joke is also a parable, illustrating the competition and interplay between three potential uses of bitcoin. The first is speculation. Bitcoin's nosebleed-inducing decade of upward price movement is what drives CNBC headlines and motivates participation: People see it as a way to get rich. "Bitcoin is a way to harness greed," said Hanyecz in a recent interview from his home in Jacksonville, Fla. It's greed that underpins the delicate balance of incentives that keeps bitcoin running.
