Bitcoin halving likely this week: Here’s what to expect
This technical event happens every four years. It is when the rewards for Bitcoin miners are cut in half.
The craze for cryptocurrencies, especially in young investors, is at an all-time high. But over a decade ago, who knew that Laszlo Hanyecz, a programmer from Florida, would reportedly become the first person to use Bitcoins (BTC) for a commercial transaction. Hanyecz had then purchased two boxes of pizzas for 10,000 BTC.
Before placing his order, Hanyecz first posted on the Bitcoin.org forums on May 18, saying, “I’ll pay 10,000 bitcoins for a couple of pizzas.. like maybe two large ones, so I have some leftover for the next day. I like having leftover pizza to nibble on later… If you’re interested, please let me know, and we can work out a deal,” according to Bitcoin Magazine.
Nobody at that time would have known that after ten years down the memory lane in 2021, Hanyecz’s meal would cost nearly $648,950,00 (considering the all-time high of BTC).
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Since that day, the global crypto community has celebrated May 22 as Bitcoin Pizza Day. Saturday marks the 11th anniversary of Bitcoin Pizza Day. There is even a decentralized autonomous organization called PizzaDAO—a community of digital artists creating pizza NFT.
Looking back, Hanyecz is quoted as saying that he harbours no regrets over his historical purchase.
“I don’t regret it. I think that it’s great that I got to be part of the early history of Bitcoin in that way,” cryptodaily.co.uk quoted Hanyecz as saying.
On Saturday evening, BTC was trading at $ 38,537.14, down by 6.2 per cent.
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