Bitcoin: the story of pizza that today would be worth more than 230 million dollars

Can you imagine buying a pizza and that, after a few years, it would cost millions of dollars? This is what happened to an American programmer .

Bitcoin coins

We tell you one of the most iconic stories in the use of bitcoins. / Photo: Pixabay

LatinAmerican Post | Ariel Cipolla

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Leer en español: Bitcoin: la historia de la pizza que hoy valdría más de 230 millones de dólares

In recent days, Bitcoin made the news. In particular, for having reached $ 20,000 per unit for the first time in its history. That is, it shot to a maximum value that does nothing but increase.

In its beginnings, Bitcoin was a digital asset that did not have many certainties for the future. Since there was not much confidence in its validity, each unit was actually worth very little. Perhaps, for this reason, several years ago there were unthinkable situations that, looking at them in hindsight, may sound utopian. Let's see one of them.

The story of the $ 220 million pizza

To understand it better, we must analyze everything from the beginning. The history of Bitcoin began in 2009, with a work written by Satoshi Nakamoto. This person described the characteristics that a “purely digital” version of electronic money should have, which ended up being a truly revolutionary invention.

The intention was to create a decentralized fund transaction system, that is, without intermediaries or central banks. In this way, an ultra-secure digital system is generated, since the blockchain (the updateable accounting book with transactions) is not in one place, but appears in all nodes.

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Although today almost all of us know, to a greater or lesser extent, about the existence of Bitcoin, the situation was not the same more than 10 years ago. It was something that was only talked about in niche places, that is, specialists in economics and digital assets, but also those who knew the computer area.

The first transaction carried out with this digital currency was a before and after in the history of cryptocurrencies, but it is also unusual from where you look at it. Bitcoin Pizza Day, which occurred on May 22, 2010, when a Jacksonville programmer decided to post a message on the Bitcoin Talk forum about the operation he had managed to perform.

At that time, the value of each Bitcoin was low. So during that time, they were worth practically nothing. However, not everyone was aware of the price they would come to in the future. In this case, this user made the first negotiation with this cryptocurrency, buying a pizza worth 10,000 bitcoins, which currently equals about 230 million dollars.

At that time, bitcoins were worth about 0.003 cents on the dollar. So the pizza (which he ordered at Papa John's) ended up costing him about $ 30. This transaction can be located on Blockchain.info, but the truth is that it remained in history to demonstrate the volatility of these assets since we are talking about millions of dollars.

His request was accepted by another forum user, known as Jercos, who ended up being the big winner in this story. Jeremy Sturdivantf is currently a Product Development Engineer for Inovonics Inc, a manufacturer of radio broadcast equipment. Now, what happened to that money?

5.79% of the original 10,000 bitcoins managed to reach one of the most important wallets that exist today. However, it is not known for sure who controls the management, since the registry allows observing all operations, but always keeps incognito those who have emerged strengthened from these operations. Thus, we see that Bitcoin, at the time, generated such hilarious stories as this one.

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