The Origin of Bitcoin Pizza Day
Every year on May 22nd, the crypto community celebrates Bitcoin Pizza Day—one of the most iconic memes in blockchain history. This tradition traces back to Laszlo Hanyecz, the Florida programmer who made the first documented real-world Bitcoin transaction by purchasing two pizzas for 10,000 BTC.
The Historic Forum Post
On May 18, 2010, Hanyecz posted on the BitcoinTalk forum:
"I'll pay 10,000 bitcoins for a couple of pizzas... maybe from a restaurant or homemade. My goal is to get food without ordering or making it myself. I love toppings like onions, peppers, sausage, mushrooms, tomatoes, and pepperoni..."
At the time:
- 10,000 BTC = ~$40
- Bitcoin was virtually unknown outside cypherpunk circles
After three days without responses, Hanyecz finally succeeded on May 22 when another user accepted his offer. This accidental milestone marked Bitcoin’s debut as a medium of exchange.
Laszlo Hanyecz’s Legacy
Beyond the Pizza Transaction
As an early Bitcoin Core contributor, Hanyecz:
✅ Fixed critical bugs in the protocol
✅ Built the first macOS-compatible Bitcoin Core client
✅ Pioneered GPU mining in May 2010 (boosting mining efficiency 10x)
In emails with Satoshi Nakamoto, he debated GPU mining’s merits—though Satoshi opposed it, Hanyecz open-sourced his code, democratizing mining access.
Philosophical Perspective
Critics often focus on the "lost fortune" narrative, but Hanyecz views it differently:
- Called the pizzas "almost free" since mining was his hobby
- Spent ~100,000 BTC total on food/giveaways in 2010
- Believed accumulating BTC meant "never paying for food again"
His actions demonstrated Bitcoin’s utility before its speculative value emerged.
Bitcoin Then vs. Now
| Year | BTC Price | Laszlo’s Pizza Cost | Equivalent Today* |
|---|---|---|---|
| 2010 | $0.004 | 10,000 BTC ($40) | ~$700 million |
| 2018 | ~$9,550 | 0.00649 BTC ($62) | ~$390 |
*Assuming 1 BTC = $70,000
👉 How Bitcoin’s value evolved over time
FAQ: Bitcoin Pizza Day
Q: Why is May 22 significant?
A: It commemorates the day Hanyecz’s pizza purchase succeeded (2010)—now celebrated annually.
Q: Did Laszlo regret his decision?
A: No. He considered mining a hobby and valued demonstrating Bitcoin’s real-world use.
Q: How did GPU mining change Bitcoin?
A: It increased mining efficiency, paving the way for ASICs and professional mining operations.
Q: What’s Laszlo doing now?
A: He remains a Bitcoin holder and occasionally participates in development (e.g., testing Lightning Network transactions).
Key Takeaways
- First commercial BTC transaction was pizza-based
- Early adopters prioritized utility over speculation
- GPU mining catalyzed Bitcoin’s decentralized security model
Bitcoin’s journey—like Hanyecz’s daughter—has grown from infancy to robust maturity. The pizza story remains a testament to crypto’s unpredictable yet groundbreaking evolution.