Celebrating the First Bitcoin Pizza Purchase

What’s your favorite food? The crypto industry seems to be partial to pizza.

At least that’s the case today, with the industry celebrating (with some nostalgia) the first Lightning Network transaction used in the purchase of the Italian food favorite, one made by none other than the man who made bitcoin’s first major purchase – Laszlo Hanyecz.

If that name doesn’t immediately ring a bell, the transaction that made him famous will – on May 22, 2010, Hanyecz traded 10,000 bitcoins ($41 at the time) for two Papa John’s pizzas.

The transaction went viral then and is legendary today, namely because bitcoin’s price has increased so much that those bitcoins would be worth a whopping $100 million. But it is also heralded as the first bitcoin transaction in which someone bought something from a mainstream merchant, a couple years before the push for merchants to accept bitcoin began.

In that way, Hanyecz was seen as a bitcoin maverick, and now, he’s made himself known again by purchasing pizza with bitcoin’s in-progress off-chain Lightning Network, what many enthusiasts see as the cryptocurrency’s liberator from its scaling and payments constraints.

 

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