Celebrating Bitcoin Pizza Day: Important Lessons to Learn

1 mo (edited)
LeoFinance
12 Min Read
2482 words

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Hello Everyone!!! I hope you are having a great time over there? It's really nice to see you visit my blog today and I must say I'm really happy to have a great personality like you visiting my blog today 😊. Thank you once again💕

I'm quite sure most of you will definitely agree with me that there was a drastic trend about Bitcoin through out last week and it became more obvious yesterday (May 22) as a result of the Bitcoin Pizza Day Celebration. I also hope you were able to get some free Pizza yesterday?.. Well if you didn't get any, i suggest you can come get some free Pizza in my house (that's just a joke anyways 😄). Also, for those who are very conversant with Twitter, you would also notice that 10,000 BTC was among the top trending search on Twitter for the past 48 hours (May 21 - May 22).

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The fact is that some people don't really understand the major reason behind the trend of 10,000 BTC and Bitcoin Pizza Day that was celebrated yesterday. The astonishing part of it all is that there are still some crypto newbies wondering what's so special about the "May 22" Bitcoin Pizza Day. As a content writer who loves impacting the lives of others with my infinitesimal knowledge, my content today will be mainly centered on Bitcoin Pizza Day Celebration and the reason behind the celebration. In addition to this, I will be sharing some of my personal experience(s) related to this particular event and I definitely hope you will learn great lessons from this too.

Let's Go Back to 2010

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Marcus Garvey once stated that "people without knowledge of there history, origin, and culture are like trees without roots". The fact is that some people aren't knowledgeable about the history and origin of Bitcoin and this is one of the major reason these set of people tend to have little or no faith in cryptocurrency without them knowing that cryptocurrency and blockchain technology is here to stay and it will definitely be the future of digital finance. This is why we really need to go back to history and learn about some past events which happened in the crypto space as this will add more to our knowledge about Cryptocurrency and blockchain technology.

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Bitcoin was created by an unknown person or anonymous group of people known as Satoshi Nakamoto in the year 2008 and it began to be of use in the year 2009 after releasing it's implementation as an open source software. During these early years Bitcoin was actually less than $1 due to the fact that it was a very new technological concept and most people didn't join the train very early probably because some people don't just believe in such innovative method of financial economy. Around 2010 Bitcoin was observed to attain the price range of $0.08 - $0.5 which shows how cheap and affordable it was during the early stage.

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This same effect can be observed in the price of newly launched tokens most of us buy from presales or ICOs while some of us tend to get free airdrop of such new tokens due to the fact that it has low value and it's quite easy to acquire more of such tokens at a very cheaper rate since it's quite new. This connotes that there were also early investors back then who also bought Bitcoins at a very cheaper rate making them have acquire more Bitcoins at a very cheaper rate and I'm very proud to tell you that Laszlo Hanyecz was also one of them.

Who is Laszlo Hanyecz ?

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Some of you might actually be very familiar with the name Laszlo in the crypto space but the fact is that we all are celebrating Bitcoin Pizza Day every year simply because of Laszlo Hanyecz action. Laszlo Hanyecz was a programmer and a BTC miner from Florida. He was the first ever person to trade his Bitcoins for a physical commodity. In fact, we can say Laszlo Hanyecz was also the first person to create a real value for Bitcoin just to make everyone believe in Bitcoin. This is also in accordance with the statement punished by coinmarketcap.com quoted below ;

there was no “official” or established method for buying and selling goods and services with Bitcoin, and no exchanges, so trading Bitcoin for goods and services usually required some bartering over the internet.

All thanks to Laszlo Hanyecz for making his impact in the crypto space which made some people believe in Bitcoin with his first ever transaction by trading his Bitcoins for a physical commodity.

What Was Laszlo Transaction All About?


I hope you remember we are still learning about history. Everything all happened in 2010, Yes! Exactly this same year. Bitcointalk.org was and still an ubiquitous crypto platform widely used by most crypto enthusiast when it comes to sharing information or news about Bitcoin and other cryptos. It was on this same platform Bitcointalk that Laszlo announced that he would pay 10,000 Bitcoins for a couple of Pizzas as seen in the quote below;

I'll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day. I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I'm aiming for is getting food delivered in exchange for bitcoins where I don't have to order or prepare it myself, kind of like ordering a 'breakfast platter' at a hotel or something, they just bring you something to eat and you're happy!

I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc.. just standard stuff no weird fish topping or anything like that. I also like regular cheese pizzas which may be cheaper to prepare or otherwise acquire.

If you're interested please let me know and we can work out a deal.

Thanks,
Laszlo

This was when another user replied to his post telling him that he could sell those 10,000 Bitcoins that $41 on Bitcoinmarket.com as quoted below;

10,000... Thats quite a bit.. you could sell those on https://www.bitcoinmarket.com/ for $41USD right now.

Let's do some quick mathematics here 😄😄

If Bitcoinmarket.com was trading 10,000 BTC back then at the rate of 41 USD, Let's calculate how much 1 BTC would cost during that time

10,000 BTC = 41 USD
1 BTC = k USD
Cross multiply and get letter K
10,000 x k =41 x 1
10,000K =41
K = 41/10,000
K = $0.0041
This shows that Bitcoinmarket.com was selling 1 BTC at the rate of $0.0041 in the month of May 2010.

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Now, Back to our Discussion
It was exactly four days (May 22) after Laszlo Hanyecz made the statement of trading his 10,000 BTC for Pizza that he got his Pizza delivered to him in his house as requested. Most sources claimed that Laszlo got the two Papa John's Pizza from a 19 year old boy named Jeremy Sturdivant with the username Jercous who initially bought the Pizza for the sake of trading his Pizza for BTC.

As they say, the rest is history. We now have lot of people across the world taking part in the Bitcoin Pizza Day Celebration. It's also quite interesting seeing different Cryptocurrency top exchanges and other cryptocurrency platforms also taking part in the Bitcoin Pizza Day Celebration.

Important Lessons to Learn From Bitcoin Pizza Day Story

#1: CULTIVATE THE HABIT OF HODLING
The first important lesson I learnt from the whole story is that we should try as much as possible to Hodl or invest in cryptos with good prospects/future. There's also nothing bad in acquiring more of this cryptos as much as possible provided they have strong community, team, vision and a highly effective use case which can lead to such crypto project adoption.

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I'm quite sure you will definitely agree with me that 10,000 BTC today can bring you more fortune you can ever imagine but the fact remains that Laszlo sold it for peanuts price. Most of us tend to act like Laszlo in our daily crypto journey life today in the sense that we aren't patient to Hodl or invest in tokens that we all know can make us wealthy in years to come just because we want to make money very fast/over night. I was also a victim of selling all my good prospects cryptocurrencies in my portfolio back then which should now worth over $10,000 now. I have learnt my lesson and I hope not to ever make the same mistake again in my life.

In summary and conclusion, I will advice that you should have some crypto investments which you can hodl for at least a year or more. This coins should be very cheap (mostly new crypto projects) with good prospects. This doesn't stop you from trading cryptos but at least try to have some reserve for long term investment. It is very important you do your personal research (DYOR) about the type of coin you intend to invest in and also note that this isn't a Financial advice (NFA).

#2 EMBRACE INNOVATIVE TECHNOLOGIES

There's actually no doubt that most people who didn't buy Bitcoin during the days of Laszlo (2010) when they had the opportunity would probably be in deep regrets by now. The same way some people who bought very little would also be regretting they would have bought more. The fact is that some people are very scared when it comes to taking risks and investing in new technological innovation. There's actually no doubt that those who took the risk to buy Bitcoin when it was initially introduced to them are definitely the ones being called whales today because they held many Bitcoins and they are now extremely wealthy as a result of the innovative risk they took back then.

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In summary and conclusion, there are many innovations taking place in the tech world and the crypto space such as Web 3.0, Defi, NFTs, Metaverse and many others you can think of. It's advisable you do your proper research and try to invest in some of this innovative technologies or startups because a time will come whereby they will be widely adopted and worth more value than you invested. It is very important you do your personal research (DYOR) about the type of innovative technology you intend to venture into and also note that this isn't a Financial advice (NFA).

#3 TAKE RISK IN WHAT YOU BELIEVE IN

The 19 year old boy Jeremy Sturdivant who initially bought Papa John's Pizza before selling the Pizza for Bitcoins to Laszlo was actually a great risk taker. He took the great risk of selling his Pizza for Bitcoins even though some sources claimed that he later sold his whole Bitcoins. But the fact is that he made huge profit on the long run because of the great risk he took and this showed that he probably believed in what he did before taking that big risk.

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In summary and conclusion, whenever you believe in something you should always take risks on such things you believe in. You can't claim to be a believer of cryptocurrency and blockchain technology without you taking some certain risk. Be a risk taker and I can assure you that you'll definitely rip your reward for taking risks one day.

#4 MAKE AN IMPACT
The last but not the least lesson I learnt from the whole Bitcoin Pizza Day story is that you should always strive to make a positive impact wherever you find yourself. Today we are celebrating Bitcoin Pizza Day because of the great man known as Laszlo Hanyecz as a result of his action back then in the last 12 years (2010). There's actually no doubt that Laszlo will continue to be celebrated every year as a result of his impact in the crypto space.

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In summary and conclusion, Albert Einstein once said "I'd rather be a Person of value than to be a Person of success". If the genius of the 21st century could alter this statement, I guess this has proven to you that being valuable to the world will definitely make you successful. I use this medium to thank all crypto content writers/tutors or crypto bloggers for making an impact in the crypto community by disseminating or sharing their knowledge of cryptocurrency and blockchain technology to the world. I also use this medium to thank all crypto project community leaders and teams for their efforts in creating more adoption in the crypto space.

#5 ADD YOURS

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As a voracious learner, I will also love to read your opinion about the important lessons you were able to deduct from the Bitcoin Pizza Day Story. Feel free to share your view or thoughts via the comment section.

😊

Thanks For Reading

😊

Reference Links

About Me


I am Adebola by name and I'm also a graduate of Agricultural Engineering (BSC). I am someone who cherish self development and being productive is in my DNA, this is why I am always open to learning from anyone and I love making research. I have been in the crypto space for the past five years and my level of enthusiasm for cryptocurrency and blockchain technology keeps increasing day by day. My hobbies are reading, writing, eating, engaging in agricultural operations, travelling, designing and blogging. My skills include Content writing, Graphic Design, UI/UX (Product) Deisgn, Copywriting, Internet Marketing, Blogging, Research and Coding (Novice). Feel free to connect with me via;
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Discod: Hardaeborla#103
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He was the first man to use btc as a payment method. Legend in history. !1UP

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Greetings @dlmmqb 😊💞

He was the first man to use btc as a payment method. Legend in history. !1UP

Exactly! And this is why he's always celebrated for the legacy he laid.

Thanks for your lovely comment with love from @hardaeborla and I hope you have a great day ahead 💞😊💞

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You have received a 1UP from @dlmmqb!

The following @oneup-cartel family members will soon upvote your post:
@leo-curator, @vyb-curator
And they will bring !PIZZA 🍕

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Thank you 😊

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