May 22, 2010 marked a special date. On this day the first documented real-world purchase of physical goods using bitcoins was made, and...
May 22, 2010 marked a special date. On this day the first documented real-world purchase of physical goods using bitcoins was made, and oh how the landscape that is bitcoin has changed since then!
Bitcoin code contributor Laszlo Hanyecz traded 10,000 Bitcoins (BTC) for two Papa John's pizza's. The actual quoted value of the transaction was USD$41 at the moment the transaction was made.
As a commemoration of the historic purchase there has been an increasing worldwide marketing trend where Pizza outlets who accept bitcoin will offer big discounts to anyone purchasing pizza with bitcoin.
Pizza Index
A fun indicator arose from this occasion, "The Pizza Index" which compares the value of the bitcoins spent on the pizzas to today's values to estimate how much those two humble pizzas are worth in today's terms.
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