Pizza Changed Cryptocurrency Forever
But the digital currency isn't doing so hot these days.
May 22 is Bitcoin Pizza Day, which is something I'm sure all of you have been waiting for all year. But what is it, you ask? And should we celebrate?
What is Bitcoin Pizza Day?
CNN reports that the pizza celebration started in 2010 when a man named Laszlo Hanyecz tried to purchase two pizzas from Papa John's using 10,000 Bitcoins. But since no retailers at the time were accepting cryptocurrency in exchange for physical goods, Hanyecz posted a request on a forum to exchange Bitcoin for the two pies—19-year-old Jeremy Sturdivant agreed, and for the sum of about $41, he bought the pizza and delivered it to Hanyecz.
This is the first recorded purchase of a good with Bitcoin, which is a bit of cool trivia, at least. If Sturdivant kept those Bitcoins and sold them at their peak price, he'd have earned himself a vulgar $680 million for a mere $41 exchange. If I could only go back in time...
The Bitcoin community celebrates May 22 as sort of a milestone holiday of sorts by buying pizza with Bitcoin and sharing it amongst friends, which is admittedly pretty cute. These days, the cryptocurrency market has changed so much, with some major retailers using it as a legitimate form of currency, including restaurants.
Do pizza and cryptocurrency mix?
Some of us here at The Takeout aren't so convinced that cryptocurrency in conjunction with food will ever be such a good idea. We're already pretty wary about whether or not NFTs have actual value in the restaurant market, or if blockchain technology can mesh well with the delicious things we love so much. That, and damn, you don't have to be a cryptocurrency follower to see it mentioned in the news for its volatility. There are a lot of starry-eyed people out there who have potentially lost a lot of money recently because all cryptocurrency has taken a big fat shit in the past week.
Sure, I love my pizza, but if the currency I'm using to buy it keeps falling in value, then seriously, what's the point? At the rate it's going, that might be the only thing crypto can buy, and if your pizza (as delicious as it is) comes at such a steep loss, well, you're probably better off using the loose change you have in that jar on the kitchen counter.