8 years ago, on May 22nd 2010, a guy named Laszlo Hanyecz paid 10,000 Bitcoin for 2 pizzas. I will spare you the intellectual effort required to calculate how much this is worth today: at the current market price it's $9,432,000. Yeah, almost $10 million for 2 pizzas.
Of course, no one could have predicted Bitcoin will get that high 10 years ago (well, maybe Satoshi).
The interesting part of the story comes now, though, when the same guy, Laszlo Hanyecz, made another pizza order, this time paying only 0.00649 Bitcoin, or about $61 for 2 pizzas. The order was made specifically for testing the new Lightning Network technology and, although it's still far from being market ready, the whole episode proved that the technology is ready.
Of course, the context is different now and it's quite obvious that we won't need another 8 years until LN becomes the de facto standard in ecommerce.
If you're curious about the technical part (what's a Lightning node, how a transaction gets validated and so on and so forth) you can have a look at this thread on the Lightning Netowrk mailing list, where Laszlo published his second coming.
Sorry, his second pizza story.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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History reapeats itself it is said in the technical analysis but this time it seems another great example of the coincidence where only satoshi is the real God.
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As Rick Falkvinge put it, this guy is a hero. He started the true first test case, viability test use in the open market. Those who think he should have hold doesn't understand how it all jives, and would get good solid information and education from Rick's video.
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Well its about opportunity and Laszlo availed it Future can't be predicted but sometimes follow instincts
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I also heard this story about pizza many times but didn't realize it was for real.
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That means now is a good time to buy. Once transaction fees plummet we'll probably see renewed interest in Bitcoin.
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Fees have already plummeted because people have steered away from using bitcoin for transactions because of the high fees.
Lightning doesn't really look nearly like a good scaling solution to me. In the short term bitcoin will probably surge on its popularity and in the medium term lightning will probably help, but in the long term I think some altcoin(s) will overtake.
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Oh how I wish he had ordered pizza from my restaurant 8 years ago :)
There is a taxi driver in our town who accepted taxi fare from his clients (about $50 worth of bitcoins) a few years ago and now those bitcoins are worth $4 000 000
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Whoa! Clever driver :)
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Whao... 10000 bitcoin for just two pizza, the guy must be wishing he could return those pizza now. In the long run the same will be said of steem i believe. Thanks for the info
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That is an interesting story. I had forgotten the guy's name. I don't really hear about the guy who got the bitcoins from that first transaction though. I wonder what he did with them.
Awesome that the lightning network is working correctly thus far. Should do a lot to help BTC become more useful as a currency, not just an asset to hold.
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What a story! I know there will be one tiny voice inside Laszlo Hanyecz's head whispering "Just imagine that you kept all that bitcoin. You would have been a zillionaire now" 😁😁😁 By the way, 10 million dollars in Nigerian Naira is almost uncountable ooo
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Omg! Is there anything as such?
That's approximately 3.6 billion in Naira.
Smh
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I used that phrase "almost uncountable" in a figurative sense. There is no number on earth like uncountable. I am sure @dragosroua got my point right.
DEVELOP SOME CHILL BRO
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Oh, I missed a point.
#Onelovebro
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His name must have been enlisted there in Guiness Book Of World Record.
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Wow buying pizza with bitcoin...that's great. Sometime ago, @beanz made a post saying she bought coffee with Bitcoins and a friend said he bought a wrist watch from a dealer with bitcoin so I think this is going viral and that's great.
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The most expensive Pizza buyer. I guess, the pizza history won't be complete without this story. Long live BTC (decentralization)
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Great post. Bitcoin is the best coin but it is downing day by day @dragosroua
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I'm worried about current market price of bitcoin @dragosroua
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I'm wondering how would he be able to sleep after realizing his mistake in recent times. Crazy!
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In 2011 I bought by bitcoin mining hash POWER IN HYIP .
It was about 400 bitcoins.
The hyip closed its doors after few months.
I got back when it was paying if i still recall the qty 290 bitcoins.
I decided to cash them . I used another rwo different excahngers fron the principle do.not put all of your eggs in one basket....
Both scammed me and took the bitcoins
At that time it was for learning anf fun.
Now i am broke under debt.
If i knew that the btc will reach USD19500... then. I wouldnot lose them by any means
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Using bitcoin to pay for my coffee ..Hell yeah @dragosroua !
This would be a game changer I guess!
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wow...!!!!
that's really good post. it really important us @dragosroua i like your Buying Pizza With Bitcoin: Now And Then post. thanks for sahring post
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Aha!if you did not buy pizza then you are very much rich man now.....Now-a-days bitcoin is so much valuable coin....
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Bitcoin growth is an unprecedented and geometric one. It has also brought a great transformation to financial management. The huge transition within 10 years is massive!
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He must be pulling his hair now...A friend of mine did the same kind of thing...and he repents a lot
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i hope that was some good pizza ;-p
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Sir its you're another one valuable post there... Just awesome.... You're a greatest personality sir!
i like you... Best of luck in your future content 🍁
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I've heard that story before and it always makes me cringe so much. Can't even imagine how he feels now after that one!
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if I heard about that anecdote; about the most expensive pizza in the world haha.
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The story is coming full circle. On an unrelated note - I wouldn't pay $61 for 2 pizzas!
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time is changing rapidly but that 10K btc loss will be the biggest loss in the history
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Have you spoken to the man before? if yes when was the last time you spoke to that man @dragosroua, he most definitely will be having so much regret now. I mean seeing the value of bitcoin now if it were me, I could just collapse.
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hopefully the lightening network will take it to new mainstreams soon
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Very good.thank information for me.
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$10 million for 2 pizzas omg i would have spent my whole life with that
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it is not impossible , @dragosroua. in this modern age nothing is impossible, this digital era, let's get ready for a change ..
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