May 22nd is upon us once more, and the Bitcoin enthusiasts can’t hold back their excitement. Besides sharing the same date as the day a historical pizza transaction was made, this day means much more.
This article will help you understand how important this day is to the cryptocurrency community. It’ll also show you many ways in which you can also join in the celebrations.
The Origin Story
In 2010, just a year after Bitcoin made its big reveal, the price of these coins wasn’t much. Down on his luck, programmer Laszlo Hanyecz made a proposition on the Bitcointalk forum. He offered to pay 10,000 bitcoins for a couple of pizzas, probably two large ones, so he could get leftovers.
Someone eventually took the offer, 19-year-old Jeremy Sturdivant with the Bitcointalk username ‘Jercos’. Jeremy brought two Papa John’s pizzas, and Laszlo completed the transaction by transferring the cryptocurrency.
These events, which took place on May 22, 2010, marked the first Bitcoin transaction. At the time, 10,000 bitcoins were roughly worth $41. Today, 10,000 bitcoins are roughly worth $670 million.
Significance of the Origin Story
This monumental increase in the value of Bitcoin shows how far this cryptocurrency has come since its inception. Bitcoin, which was once seen as a fad that would fade in time, has become an important aspect of society.
This origin story also serves as an introduction to the volatility of Bitcoin and cryptocurrency as a whole. This volatility shows the potential that cryptocurrency has for rapidly increasing in value.
The transaction between Laszlo and Jeremy shows the power of decentralization—a transaction conducted without central authorities. It also shaped the mindset of future generations, giving them the courage to experiment with new cryptocurrencies.
The success of Bitcoin also reflects the success of the entire cryptocurrency industry, which thrived due to Bitcoin’s success. Today, cryptocurrencies are adopted in nearly every industry, and they are used as mediums of exchange in many countries.
Celebrations and Traditions
The events of May 22, 2010, are celebrated every year on May 22 as Bitcoin Pizza Day. This celebration marks a milestone in the journey of Bitcoin, showing how far this cryptocurrency has come.
It also marks the first commercial transaction in which this digital coin was used to purchase physical goods. The fact that Bitcoin could be used for a commercial transaction paved the way for its future adoption and growth.
How is Bitcoin or Crypto Pizza Day Celebrated?
Bitcoin Pizza Day, as May 22 is called, is celebrated every year by the cryptocurrency community. Some of the ways in which this day is celebrated include:
Community Events and Gatherings
This is one of the most popular ways in which the decentralized crowd remembers that pizza transaction. The crypto community hosts meetups, parties, and even worldwide events to commemorate that day.
During these gatherings, there’ll be pizza-themed fun and the opportunity to network with others. People will also engage in discussions about the history and possible features of Bitcoin. Sometimes, pizza houses join in on the fun by offering special pizza deals.
Some fun Bitcoin pizza events include:
- Purchasing pizza with Bitcoin and throwing a pizza party for friends.
- Save £5 when you use Pizza Express gift cards
- For 2024 celebrations, Binance will be hosting pizza-themed events in twenty countries, where 5,000 pizzas will be distributed. There will be pizza-branded vans, in-person pizza parties, and pizza deliveries.
- In 2023, Crypto Bootcamp Community organized a hangout in 40 cities, and across 12 countries. During this event, guests were treated to tasty Bitcoin pizza.
Philanthropy
What 21st-century celebration is complete without a little philanthropic work? Crypto Pizza Day is no exception, as many decentralized platforms will come out to raise funds and donate to charity.
These philanthropic actions are meant to show the world that cryptocurrency can be used as power for good.
Some good examples of these activities include:
- Pizza for Good: Hosted by Binance in 2020 using proceeds from Bitcoin pizza sales. These proceeds were used to fund the fight against COVID-19.
- Partnership between Ronald McDonald House Charities (RMHC) and Papa John’s Pizza: Using Bitpay, donors can purchase a pizza for families under the RHMC.
Social Media Celebration
The internet will be abuzz on May 22 every year, with hashtags like #PizzaForBitcoin and #BitcoinPizzaDay flying around. The X (formerly Twitter) crowd will also be sharing memes, funny stories, and reflections about the day. It’ll also be a great time to speak with those rarely-seen crypto developers, investors, and influencers.
More on Crypto:
- Polygon and Matic: What is the Difference?
- How to Create a Metaverse Avatar
- Advantages of Cryptocurrency in 2024
Conclusion
Bitcoin Pizza Day marks the day when Laszlo Hanyecz sold the world’s most expensive pizzas to Jeremy Sturdivant. Besides being the day when a fortune was spent on pizza, it also marks the first commercial Bitcoin transaction. Today, crypto enthusiasts look back at those times when Bitcoin was worth nothing to see the progress it has made.
Laszlo Hanyecz, the hero behind this little tale, doesn’t regret his actions on May 22, 2010. He is now a well-known authority in the cryptocurrency community and appreciates the fact that his actions promoted the adoption of Bitcoin. Nonetheless, he still continues his work as a Bitcoin miner and developer.
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