On May 22, 2010, a programmer named Laszlo Hanyecz made history by using 10,000 Bitcoin to buy two pizzas. This event is widely recognized as the first economic transaction involving Bitcoin. To commemorate this milestone, the cryptocurrency community now celebrates May 22 as Bitcoin Pizza Day every year.
The Origins of Bitcoin Pizza Day
The history of Bitcoin Pizza Day traces back to a time when Bitcoin was an emerging digital currency with limited awareness. Laszlo Hanyecz, an early Bitcoin enthusiast and developer, wanted to use his Bitcoin to purchase food. He posted on a Bitcoin forum, offering 10,000 BTC for two pizzas and hoping someone would accept his proposal. A few days later, another user helped complete the transaction.
This purchase was recorded on the Bitcoin blockchain, marking it as the first known commercial trade using Bitcoin. At the time, the value of 10,000 BTC was approximately $25. Today, that same amount is worth hundreds of millions of dollars.
Did this 10,000 BTC transaction really happen?
Thanks to the transparent and open nature of blockchain technology, every transaction is publicly verifiable. Using a blockchain explorer, users can trace and confirm transaction details. Below, we explore how to verify the famous pizza transaction step by step.
How to Verify the Transaction Using a Blockchain Explorer
To examine the details of Laszlo Hanyecz’s transaction, you can use a Bitcoin block explorer. Here’s how:
- Open a reliable Bitcoin block explorer.
- Copy and paste the transaction hash of the “Bitcoin pizza transaction” into the search bar. The transaction hash for this historic trade is:
a1075db55d416d3ca199f55b6084e2115b9345e16c5cf302fc80e9d5fbf5d48d - Review the transaction record. You will find the entry showing the transfer of 10,000 BTC on May 22, 2010.
At the top of the transaction page, you can see details such as the transaction hash, block height, timestamp, transaction fee, and number of confirmations. Notably, the transaction also included a fee of 0.99 BTC paid to the miner.
The bottom section displays input and output details. The left side shows the Bitcoin spent for the pizzas (10,000 BTC total), which was sent to a single address on the right (belonging to the pizza provider). Clicking on the recipient address reveals its full transaction history.
By clicking on the block height (57,043), you can access more information about the block that contains this transaction. This block included two transactions: the pizza payment and the miner’s reward of 50.99 BTC.
Blockchain explorers provide valuable insights into transaction histories and network activity. They allow users to trace, verify, and analyze on-chain data with transparency.
As we’ve confirmed, the transfer of 10,000 BTC on May 22, 2010, did indeed occur. Now you understand not only the history behind Bitcoin Pizza Day but also how to explore such historic transactions in detail.
👉 Explore more blockchain transaction details
Frequently Asked Questions
What is Bitcoin Pizza Day?
Bitcoin Pizza Day, celebrated annually on May 22, commemorates the first documented commercial transaction using Bitcoin. It symbolizes the practical use of cryptocurrency for everyday purchases.
How much would those 10,000 Bitcoin be worth today?
The value of Bitcoin has fluctuated dramatically since 2010. While the original transaction was worth about $25, the same amount of Bitcoin would be valued at millions of dollars today, depending on market conditions.
Can I view old Bitcoin transactions like the pizza purchase?
Yes, all Bitcoin transactions are recorded on the public blockchain. By using a block explorer and the correct transaction hash, anyone can verify historical transactions.
Why is blockchain transparency important?
Transparency ensures that all transactions are open for verification, which enhances trust and security within the cryptocurrency ecosystem. It allows users to independently confirm activities without relying on intermediaries.
Did Laszlo Hanyecz regret his purchase?
While the value of Bitcoin has increased immensely, Hanyecz has stated that he doesn’t regret the transaction. He viewed it as a successful experiment that helped demonstrate Bitcoin’s potential as a medium of exchange.
What can I learn from using a blockchain explorer?
A blockchain explorer helps you analyze transaction patterns, verify payments, track wallet activity, and gain insights into network operations. It’s a vital tool for anyone interested in cryptocurrency.