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14 Years Ago, an Individual Offered 10,000 Bitcoins for 2 Pizzas, Finalizing the Deal in 4 Days

14 Years Ago, an Individual Offered 10,000 Bitcoins for 2 Pizzas, Finalizing the Deal in 4 DaysApproximately 14 years ago today, Laszlo Hanyecz posted on bitcointalk.org, offering 10,000 bitcoins for “a couple of pizzas.” However, most people are not aware that it took him four days to finalize the transaction, which is now worth $670 million. The Famous Bitcoin for Pizza Offer That Took 4 Days to Complete In May 2010, […]

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The pepperoni on the first pizza bought with Bitcoin is worth $6.5M today

The first known crypto transaction was 10,000 Bitcoin for two pizzas; 13 years on, its ingredients alone equate to millions of dollars worth of Bitcoin.

It’s been 13 years since programmer Laszlo Hanyecz made the first commercial transaction with Bitcoin (BTC) on May 22, 2010, buying two supreme pizzas from Papa John’s for a whopping 10,000 BTC, or $266 million at current prices.

That day is known and celebrated as Bitcoin Pizza Day.

To commemorate the occasion, Cointelegraph sought to find out the answer to one more burning question. How much did it cost to construct these two famous pizzas?

The supreme pizzas purchased by Hanyecz in 2010. Source: Internet Archive

To answer this, it is assumed that Hanyecz ordered Papa John’s “The Works” pizza, which is the pizza chain’s version of a supreme pizza.

Considering the amount required and the price of ingredients at the time, here’s what it would have cost to put together just one of the Bitcoin Pizzas, not including labor, overhead and the pizza base.

  • Pepperoni: 244 BTC = $6.5 million
  • Bacon: 146 BTC = $3.8 million
  • Italian sausage: 97 BTC = $2.5 million
  • Onions: 24 BTC = $640,000
  • Green peppers: 36 BTC = $960,000
  • Mushrooms: 63 BTC = $1.6 million
  • Black olives: 121 BTC = $3.2 million
  • Cheese: 730 BTC = $19.4 million

Total cost of ingredients: 1,461 BTC, or $39 million. Talk about an expensive feast.

History of Bitcoin Pizza Day

“Bitcoin Pizza Day” marks the world’s first transaction for real-world goods using Bitcoin and celebrates the massive rise in the value of the cryptocurrency since then, which was worth only $0.0041 in May 2010 and is now worth over $26,500 at current prices.

In the end, Hanyecz’s pizza order was delivered four days after he posted his request on May 18, 2010, on the Bitcointalk forum.

Related: Primordial NFT? Someone tried to sell a JPG for BTC months before Bitcoin Pizza Day

“I'll pay 10,000 bitcoins for a couple of pizzas,” he wrote, saying those who take up the request “can make the pizza yourself and bring it to my house or order it for me from a delivery place.”

Jeremy Sturdivant, a 19-year-old university student at the time, delivered the now-famous pizzas for the Bitcoin haul on May 22, 2010. He told Cointelegraph in 2018 that he sold them to afford a holiday and had “never seen Bitcoin as an investment.”

Hanyecz said he didn’t regret it, and his early work on Bitcoin led him to code a program that made it possible to mine the cryptocurrency on computer graphic processing units.

Magazine: $3.4B of Bitcoin in a popcorn tin — The Silk Road hacker’s story

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Nifty News: Women’s Day in the Metaverse, Potion Unlock NFT auction, and Papa John’s brand new bag

To celebrate International Women’s Day, HeyLayer on Stacks is hosting an event in the Metaverse. Meanwhile, PotionLabs is auctioning off NFTs of its code, and Papa Johns has put cheese in its NFTs.

NFT platform HeyLayer has partnered with the Stacks Foundation to host an event in the vSpace Metaverse to celebrate International Women’s Day.

The ‘HerNFT’ event will feature the work of more than 30 women nonfungible token (NFT) artists, including Goldy Succi, Mother Pop, Kaylee Hawley, and others. Their work on the Stacks blockchain will be on display in a virtual gallery curated specifically for this event which starts on March 8.

Participants in the event will be able to purchase NFTs on the HeyLayer Marketplace. 2.5% of sales from the event will be donated to the Just Love Film Academy charitable organization for Ibero-American female filmmakers.

David #5 by Olga Sennikova on the HeyLayer NFT Marketplace

CEO and Co-founder of HeyLayer Alla Koretsky said “We created HerNFT as a way to tap into more feminine energy and celebrate and showcase more female points of view within NFT art.” She added:

“These women all have something that they want to say and when it comes to our theme of #BreaktheBias, art can be a very powerful medium of getting that message across.”

PotionLabs NFT auction to fund project and community

Potion Protocol developers PotionLabs have launched the Potion Unlock NFT auction to help it complete the “aggressive decentralization” by maximizing community involvement and sidestep the pitfalls of traditional project launches.

The funds raised in the auction of 10,000 unique NFTs will support the growth of the community and the Potion Protocol project moving forward. It will be a Dutch auction that runs from March 14 to 24.

Each NFT in the collection contains a small portion of the code for Potion Protocol. When all the lines of code are combined, the code will become part of the public domain. This means that community members are encouraged to closely collaborate to release the code rather than work against each other.

Major early investors in Potion Protocol include Polychain, Pantera, MetaCartel, Compound's Robert Leshner, and others. Potion Unlocked is a novel project launch mechanic that debuted on Feb. 22 by Potion Labs.

The newest thing Papa John’s has is filled with cheese

Global pizza chain Papa John’s is giving away 19,840 NFTs meant to promote its new Cheddar range in at least six countries including the United Arab Emirates, Qatar, Spain, Ecuador, and El Salvador.

The NFT Hot Bags collection will display nine different bag designs based on iconic pizza delivery bags. They were designed by NFT artists Tom Hoss and Ash Sketch.

Papa John’s minted the NFTs on the Tezos blockchain, which it says is an “energy-efficient blockchain, which means the NFTs are also energy-efficient.”

South Korean Presidential hopeful turns to NFTs

Leading South Korean presidential candidate Yoon Seok-yeol has released 4,000 NFTs on the Aergo blockchain to help raise more funds for his campaign and gain attention from 20-something swing voters.

The No. 2 Yoon Seok-yeol NFT collection is currently for sale on the CCCV NFT marketplace. He plans on minting a total of 22,329 NFTs in total, each costing about $41.15.

South Korea’s presidential election began on March 4 and ends on March 8.

Yoon Seok-yeol’s NFT collection on the Aergo blockchain

Other Nifty News

Creative showcase platform Behance by Adobe has added support for the Phantom wallet on Solana to allow users to add NFTs to their profiles. Parties involved in the development of this support heralded the update as a “huge” step for the creator economy on Solana.

Australia-based NFT platform Immutable has secured $200 million in a Series C round of funding led by Singapore’s state-owned investment firm Temasek. Animoca Brands and Tencent also participated in the round. It will use the funds to develop the Immutable X layer-2 scaling solution for NFTs on Ethereum.

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Bitcoin for pizza, not the other way around, says Papa John’s offer to UK customers

Users of cryptocurrency exchange Luno can claim $14 in BTC rewards before Sunday.

Famous pizza chain Papa John’s has begun giving away cryptocurrency rewards for customers in the United Kingdom.

According to the online offers of Papa John’s in theU.K., pizza lovers can receive 10 euro ($12) worth of Bitcoin (BTC) by spending 30 euro ($36) or more at select locations in the U.K. and Ireland. Users can claim the coins through cryptocurrency exchange Luno before Sunday.

Though it was not specified why the BTC offer is available now, the franchise has a notable history with cryptocurrency. On May 22, 2010 — known as Bitcoin Pizza Day — Laszlo Hanyecz became the first person to complete a successfully documented commercial transaction of crypto for two Papa John’s pizzas. The pies cost Hanyecz 10,000 BTC — a few dollars at the time, but now worth more than $544 million.

The crypto space is often flooded with pizza chains making crypto-related offers around Bitcoin Pizza Day. Last year, crypto exchange BitFlyer purchased pizzas from San Francisco shops and donated them to a number of homeless shelters.

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Free Bitcoin: Papa John’s Giving Away BTC With Pizza Purchases in UK

Free Bitcoin: Papa John’s Giving Away BTC With Pizza Purchases in UKPapa John’s Pizza is giving away bitcoin with pizza purchases in the U.K. Customers who spend at least £30 will get £15 off their orders as well as £10 in free bitcoin. The bitcoin freebie is given through global cryptocurrency exchange Luno. Papa John’s Bitcoin Giveaway Pizza restaurant franchise Papa John’s is currently giving away […]

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