The $100 Million Pizza: Reflecting on the Programmer Who Made Crypto History

On May 22, 2010, a programmer named Laszlo Hanyecz made headlines by purchasing two pizzas for 10,000 Bitcoin, now valued at an astonishing $10 billion. This transaction is widely recognized as the first real-world economic exchange using Bitcoin. Since then, the crypto community has designated May 22nd as Bitcoin Pizza Day to commemorate this groundbreaking "Bitcoin pizza trade." In retrospect, it might be considered the "most expensive pizza ever," but the story behind it is rich with legend and inspiration.

The Genesis of the Pizza Celebration

Rewind to May 18, 2010, when a Florida-based programmer, Laszlo Hanyecz, posted a message on the Bitcoin forum:

"I'm looking to trade 10,000 BTC for two large pizzas. You can make them yourself or order them for me. Ideally, I'd like them topped with things like pepperoni, onions, and bell peppers... no pineapple please."

At that time, Bitcoin was in its infancy, and few people understood its potential, let alone its use for commerce. Laszlo's proposal caught the attention of internet users but didn't generate much excitement. Many believed Bitcoin lacked practical value, and most willing to help were not based in the US, causing the trade to remain unfulfilled for days.

Four days later, a 19-year-old Californian named Jeremy Stedeford finally accepted the offer. He used his credit card to order two pizzas for Laszlo and received the 10,000 Bitcoin in exchange.

Laszlo happily shared a photo of the pizza on the forum, noting that this was the "first real transaction" using Bitcoin. He had successfully exchanged virtual currency for a "physical" lunch.

The World's Most Valuable Slice

At the time, 10,000 Bitcoin was worth approximately $30, so it seemed Laszlo hadn't lost out. However, as Bitcoin's price skyrocketed, so did the value of those two pizzas.

• In 2013, Bitcoin surpassed the $1,000 mark, pushing the pizza's worth beyond $10 million.

• By 2021, with Bitcoin reaching $60,000, the pizza's value soared to $600 million.

• In 2024, with Bitcoin approaching $100,000, the pizza's value has hit an incredible $1 billion.

Today, this lunch has become an unparalleled meme in the crypto world, with everyone reminiscing about this story on "Pizza Day" each year.

The Protagonist's Perspective

Laszlo Hanyecz expresses no regrets about "eating $600 million." In an interview, he admitted that at the time, he thought Bitcoin was similar to virtual currency in video games, and it was cool to be able to buy something with it. He also revealed that after this transaction, he continued to buy more pizzas with Bitcoin, spending a total of about 100,000 Bitcoin (worth approximately $10 billion at current prices).

Laszlo's attitude has always been optimistic: "Those Bitcoins were the 'free' currency I mined with my graphics card. It was pretty good to exchange them for some pizza." He doesn't feel disappointed about missing out on potential wealth, nor has he sought public attention, continuing to live modestly as a programmer.

The Other Side of the Trade

Jeremy Stedeford, the young man who completed the trade with Laszlo, has his own perspective on the matter. He quickly spent the 10,000 Bitcoin he received on travel and living expenses. In his words: "10,000 Bitcoin ultimately netted me $400, so it was a tenfold return, which was already a good deal."

Although only $119 worth of Bitcoin remains in his wallet now, he has no regrets. He believes it's incredibly meaningful to have been an early "consumer" of Bitcoin and to have been part of its history.

The Inspiration Behind the Legend

The stories of Laszlo and Jeremy teach us that life is full of choices. Sometimes, we unknowingly participate in historic events. Although they narrowly missed out on enormous wealth, both maintain positive and optimistic attitudes, enjoying their lives.

It's reminiscent of the quote from Forrest Gump: "Life is like a box of chocolates; you never know what you're gonna get."

As we celebrate Bitcoin Pizza Day, we're not just remembering the "most expensive pizza ever," but also commemorating the original belief and experimentation in cryptocurrency history. It embodies the spirit of exploring an unknown future and represents the most valuable aspect of currency culture.