The story of the 10,000 BTC purchase of two pizzas over a decade ago is pretty well known. For those unaware, Florida-based developer Laszlo Hanyecz, on 22 May 2010, made a payment of 10,000 Bitcoins (then $45) for two pizzas and started the revolution of digital currency payments. Netizens worldwide celebrate this day as Bitcoin Pizza Day, and Laszlo is famously known as the Pizza Guy.
He was involved in the early stages of the development of Bitcoin and has contributed immensely to its popularity. Back then, most BTC transactions took place across discussion boards and the Internet Relay Chat rooms. Its value was worth less than a cent, and any meaningful transaction would involve the transfer of thousands of BTC, which are worth millions of dollars today.
So, the question arises. If the people who traded in the cryptocurrencies back then believed that they would blow up in the future, would they have sold them at such low prices? No one can know. However, one can say this for sure, that those investors who held on to their digital assets for all these years are glad that they persevered. From the outside, it appears that they became rich overnight.
While those who invested and held on to their digital assets are being applauded for their patience, the real heroes are those who spent them for close to nothing back in the day. Purchases like that of Laszlo kickstarted the revolution and powered the phenomenon that is Bitcoin. And it is because of them that it is still going strong.
Phemex Is Keen On Giving Back
Phemex is a Singapore-based digital currency exchange that recently amassed more than 1 million users worldwide. The trading platform reported a user base growth of 156.9% in the first quarter alone this year. As for the trading volume, Phemex reported a 465.2% growth in its Q1 as compared to the last year. The platform has constantly been adding new features, upgrading platforms, and incorporating community feedback since its inception to ensure an optimal user experience.
Bitcoin Pizza Day is just around the corner. This 22nd May, the Phemex team is keen on giving back to the man who initiated it all. Very few people know this, but Laszlo has also made significant contributions towards Bitcoin’s mining algorithm along with the pizza payments.
When he entered the mining space, computer processors (CPUs) were used for mining Bitcoins, and there was no other alternative. They were much slower than the ASICs that are used today. Laszlo developed a program that enabled people to start mining using graphic cards (GPUs), which is in use even now. Today, the entire Bitcoin network remains afloat solely due to the efficiency that is offered by GPUs.
Laszlo is the unsung hero of the Bitcoin world, and he must be celebrated. The 10,000 BTC that Laszlo used to pay for two pizzas is worth $400 million today, something which even he couldn’t have anticipated. Even though he has no regrets about making that payment, Phemex wants to recognize his contributions. As a way of giving him back, Phemex is offering the opportunity to spend 10,000 BTC to Laszlo for one day. This time though, all the profit that he makes will be his.
Phemex is inviting Laszlo to deposit the offered 10,000 BTC into Earn Crypto, its asset management platform, on May 22. According to Phemex, Hanyecz can earn nearly $110,000 in a single day with this opportunity and keep it all.
However, the team hasn’t been able to track him down, and that is where they need your help. You can win rewards up to $10,000 worth of BTC if you help in spreading the word. Participants can enter the Gleam Campaign Page and complete the task if they wish to join this campaign. In the end, winners will be chosen and rewarded- irrespective of whether Laszlo shows up for the event or not. Win-win.
The competition starts on April 23 and goes on until May 22. To qualify for it, all you need to do is enter the campaign and complete all actions. Phemex will transfer the BTC into the winners’ accounts, which can be used for trade or withdrawn.
Let’s Applaud Laszlo
With blockchain technology growing every year, it is attracting excellent traction, thereby increasing its credibility. Innovative applications are being put out, and there is so much more yet to come. Amidst all this growth, let’s not forget those who helped build this. In months that followed May 2010, Laszlo spent a total of 100,000 BTC over one summer. In fact, he stopped only because he could not generate more tokens from his home desktop on a daily basis.
The initial transactions made by Laszlo have been paramount in popularizing Bitcoin and become what it is today. As of today, they are worth millions, and yet, he regrets nothing. Events like the celebration of Bitcoin Pizza Day by Phemex are just another way of celebrating Laszlo’s invaluable contribution to the world of Bitcoin.