On May 25, 2010, Laszlo Hanyecz purchased $30 worth of Papa John’s Pizzas for 10,000 Bitcoin.
Hanyecz, a computer programmer, had earned the cryptocurrency for helping run the Bitcoin network — a peer-to-peer electronic cash system launched in 2009.
Hanyecz viewed the Bitcoin as an alternative to cash and offered to exchange it for two pizzas at Papa John’s.
Hanyecz reached out to potentially interested merchants by posting an ad on Bitcointalk.org — an Internet forum dedicated to Bitcoin.
After three days, Hanyecz found a suitor; He paid 10,000 Bitcoin for two large pizzas in what was the first documented transaction using the cryptocurrency.The Bitcoin, worth just pennies in 2010, now has a present-day value of over $9,000.
In hindsight, Hanyecz’s decision to exchange his Bitcoin cost him hundreds of millions of dollars. People cite this example as to why they are reluctant to sell their Bitcoin.
Hanyecz is still a supporter of Bitcoin, and to this day, uses it to purchase goods.
Founded in 2015, Coinchapter.com has become one of the leading resources for the crypto asset community. Created by a small group of cryptocurrency enthusiasts, Coinchapter.com was built to provide new members of the crypto asset community with unbiased listings of cryptocurrency exchanges and retail options that would allow them to buy the crypto assets that they wanted, how they wanted and at the price they wanted.