On May 22, 2010, Laszlo Hanyecz made the first documented purchase of a good with Bitcoin. The exchange involved 10,000 BTC, worth $41 at the time, and two pizzas from a local restaurant in Florida. The rest, they say, is history.
Over a dozen years after this milestone, that iconic transaction, the Bitcoin Pizza, has become an annual celebration and an event for crypto community members to reminisce on how far the industry has come.
Last Monday, Crypto Bootcamp Community, a leading crypto community in Africa, organised a Bitcoin Pizza Day Hangout in 40 cities across 12 countries. A Technext reporter was at the Lagos state hangout in Lekki to mark the milestone and take a bite of the tasty ‘Bitcoin pizza.’
The event had in attendance notable personalities in the African blockchain space like Obinna Iwuno, Founder of Crypto Bootcamp Community and the President of Stakeholders in Blockchain Association of Nigeria (SiBAN), Morris Eberioma, Cofounder of African crypto exchange Quidax, Tola Fadugbagbe, a prominent crypto evangelist and founder of Crypto Masterclass, Senator Ihenyen, a tech lawyer/erstwhile president of SiBAN, Etienne Okeke, CEO of BitBarter and so many others.
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Significance of Bitcoin Pizza Day
While the bitcoin enthusiasts took bites into their favourite slices of pizza, the event panellists seized the moment to appreciate the disruptive power of cryptocurrencies and the role they continue to play in empowering individuals, how it enables them to take control of their finances and transact seamlessly across borders.
Obinna Iwuno, in a conversation with the Technext reporter, said after listening to conversations around the Bitcoin Pizza transaction, he has discovered that people’s minds are fixated on the amount of Bitcoin and how much it would cost today, forgetting about the significance of the transaction because bitcoin was valueless before that moment.
“For him (Laszlo Hanyec) to have been able to convince another human being to accept a worthless digital currency as a means of payment, is significant. So I thought that this day is beyond just posting Happy Bitcoin Pizza Day, but it should be a day to tell the story of bitcoin and drive adoption.” -Obinna Iwuno, SiBAN President.
Tola Fadugbagbe also echoed these sentiments. He said May 22 is a significant day that serves as a reminder of what provided liquidity to Bitcoin.
“Anything could be an asset, but they are not liquid until you can exchange for value.”
Omotola Dorcas, a web3 expert said bitcoin and crypto adoption over ten years since the first transaction has been impressive, especially looking at the opportunities it has afforded everyone.
“One thing everyone wants is freedom, and that’s what I think cryptocurrency has given to people. It’s a leveraging ground for everyone. Now we see the Nigerian government working to incorporate the technology”
For Ukeme Okuku, the CEO of Gamic HQ, Bitcoin is not just an amazing technology for Africans:
“It’s something we really need. It solves the problem for us. It’s a utility product.”
Lastly
Since the Bitcoin pizza transaction over 14 years ago, the flagship digital asset has hit unprecedented milestones. And the celebration of Bitcoin Pizza Day is a symbolic reminder of Bitcoin’s development from its humble beginnings to the global phenomenon it is today.
Also, Bitcoin Pizza Day embodies the communal spirit of the cryptocurrency community. Hangouts like these, organised by Crypto Bootcamp Community, highlight the crypto industry’s innovative and socially conscious nature.
Events like Bitcoin Pizza Day bring together people passionate about decentralised technologies, innovation and digital currencies. Lastly, it serves as a reminder that community efforts and shared values are the foundation for the success of the developing crypto ecosystem.
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