Approximately 14 years ago today, Laszlo Hanyecz posted on bitcointalk.org, offering 10,000 bitcoins for “a couple of pizzas.” However, most people are not aware that it took him four days to finalize the transaction, which is now worth $670 million.
The Famous Bitcoin for Pizza Offer That Took 4 Days to Complete
In May 2010, bitcoin (BTC) was essentially valueless, with coins considered worthless or traded for very little value. On May 18, 2010, programmer Laszlo Hanyecz proposed trading 10,000 BTC for some pizzas. The offer, which took place 14 years ago today, is officially recognized as the first documented commercial transaction using bitcoin (BTC). Although the offer was first proposed on May 18, it wasn’t until May 22 that someone accepted Hanyecz’s proposal.
“I’ll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some [leftover] for the next day,” Hanyecz wrote at the time. “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.”
At the time, people asked where Hanyecz was located, and he replied that he was in Jacksonville, Florida. Some suggested he could find a better deal. “10,000… That’s quite a bit… you could sell those on [Bitcoin Market] for $41 USD right now… good luck on getting your free pizza.” One individual mentioned they would place an order from Domino’s if they knew how to do it from Europe. Another suggested Papa John’s. By May 21, three days later, no one had responded to the programmer’s request.
Hanyecz asked:
So nobody wants to buy me pizza? Is the bitcoin amount I’m offering too low?
Several individuals remarked that they were not in the U.S. and humorously inquired if he was “getting hungry or do you just like pizza?” The next day, Hanyecz announced that he had completed the transaction on May 22, 2010. “I just want to report that I successfully traded 10,000 bitcoins for pizza,” Hanyecz informed the bitcointalk.org community. “Congratulations Laszlo, a great milestone reached,” Martti Malmi, also known as Sirius wrote in response.
The funds Hanyecz used would be valued at $670 million at today’s BTC exchange rates. He also left the offer open in June. “This is an open offer by the way.. I will trade 10,000 BTC for 2 of these pizzas any time as long as I have the funds (I usually have plenty),” the programmer wrote 21 days after making the famous pizza transaction. The two pizzas were from the Papa John’s pizza chain and the company mentioned the purchase in 2021 on X.
“11 years ago today, a very hungry programmer, Laszlo Hanyecz, paid 10,000 bitcoin for two Papa John’s pies, marking the very first bitcoin pizza transaction, ever,” the pizza company Papa John’s wrote on May 22, 2021.
What do you think about Hanyecz initiating this offer 14 years ago? Share your thoughts and opinions about this subject in the comments section below.