When was the first recorded bitcoin transaction, where two pizzas were bought for 10,000 btc?

General
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when was the first recorded bitcoin transaction, where two pizzas were bought for 10,000 btc?

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When was the first recorded bitcoin transaction, where two pizzas were bought for 10,000 BTC?

Answer:
The first recorded bitcoin transaction where two pizzas were bought for 10,000 BTC occurred on May 22, 2010. This transaction is now famously known as “Bitcoin Pizza Day.”

  1. The Buyer and the Seller:

    • The transaction was initiated by Laszlo Hanyecz, a programmer based in Florida, USA.
    • He announced his intention to buy two large pizzas for 10,000 BTC on a Bitcoin forum, offering the cryptocurrency in exchange for food.

  2. The Transaction:

    • A user agreed to accept his offer and placed the order for two pizzas from Papa John’s.
    • On May 22, 2010, the transaction was completed, making it the first known instance of Bitcoin being used to purchase a tangible item.

  3. Significance of the Transaction:

    • This event is significant because it demonstrated the real-world utility of Bitcoin as a medium of exchange.
    • At that time, 10,000 BTC was worth approximately $41 USD. However, given Bitcoin’s appreciation over the years, those 10,000 BTC are now worth much more, demonstrating the massive growth and volatility of Bitcoin’s value.

The transaction has since become a symbolic moment in the history of Bitcoin, celebrated annually within the cryptocurrency community as “Bitcoin Pizza Day.”

Final Answer:
The first recorded Bitcoin transaction where two pizzas were bought for 10,000 BTC took place on May 22, 2010, by Laszlo Hanyecz.