Bitcoin Pizza Day: A slice of crypto-history

• (Mexico) This May 22 the crypto community will celebrate Bitcoin Pizza Day, which marks one of the first uses of bitcoin as an exchange method.

• – It all goes back to 2010, when bitcoin was still relatively unknown. It was that May 18 that Laszlo Hanyecz, a software developer and one of the first bitcoin enthusiasts, posted on the BitcoinInTalk forum that he would pay 10,000 BTC to the person who sent two pizzas to his home in Jacksonville, Florida. At that time, said cryptocurrency was worth fractions of a dollar, around 0.0041 cents. Days later, on May 22, a user named “Jercos” accepted the offer and ordered two Papa John’s pizzas for Hanyecz.

• – This exchange was an early example of bitcoin’s ability to function as a form of payment. In 2010 the approximate value of 10,000 BTC was about $41. However today, with a value of just over $10 billion Mexican pesos, those bitcoins could buy 28 million pizzas, 524 million tacos al pastor or 250 million tlayudas.

• – When these historic pizzas were purchased, there were around 180 thousand bitcoin wallet addresses, with only about a thousand active addresses. Today, there are around 1 billion BTC addresses with around 1 million active users.

• – But what happened to the user who received the 10,000 BTC? Thanks to the transparency properties of the blockchain, we know that “Jercos” took just under 10 minutes to move its assets from the address where it received the transaction to this address where, until today, the remaining 5,778 BTCs are kept and whose The last movement was recorded in 2010.

• – “In 2010, buying bitcoin was a complicated task that only interested technology enthusiasts. Bitcoin Pizza Day has become a reminder of how, in less than 15 years, small transactions that were previously made in thousands or tens of thousands of bitcoins went from representing less than a thousand pesos to billions. Despite this, bitcoin is still in the early stages of its development and the opportunity for people to grow their wealth remains open.”, Felipe Vallejo, general director of Bitso in Mexico.

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