Bitcoin Pizza Day — A celebration of decentralization – Kraken Weblog

Pizza events not often want a proof. However pizza events on Bitcoin Pizza Day deserve one. 

13 years in the past at the moment, Laszlo Hanyecz created a thread within the bitcointalk.org discussion board titled Pizza for bitcoins? After some rationalization and far dialogue, Hanyecz discovered somebody prepared to purchase him two pizzas (valued at ~$41) in trade for his 10,000 bitcoin. 

At bitcoin’s worth at the moment, these pizzas are price ~$270,000,000. 

Many look again on Bitcoin Pizza Day as a cautionary story that demonstrates why folks HODL crypto for the long run. But, many others look to the longer term on this present day whereas contemplating the unrealized potential of Bitcoin and the ability of decentralization.

In the end, Bitcoin Pizza Day has turn out to be a celebration of Bitcoin’s viability as an entire “peer-to-peer digital money system” — simply as Satoshi envisioned within the Bitcoin white paper.

Cash (together with money) is usually outlined as:

1. A medium of trade
2. A unit of account
3. A retailer of worth

On this present day greater than a decade in the past, the world noticed that Bitcoin might be used as a medium of trade. In any case, Hanyecz was in a position to make use of Bitcoin whereas transacting with one other particular person — with none middleman’s participation. 

But, as time has gone on, Bitcoin Pizza Day has additionally turn out to be a reminder of the progress Bitcoin has made within the different two features of cash as nicely.

As people proceed to trade Bitcoin for items and providers — simply as Hanyecz did years in the past — Bitcoin’s viability as a worldwide unit of account and impartial retailer of worth has additionally emerged. Days like at the moment are a reminder that first proving its effectiveness as a medium of trade is what has finally allowed Bitcoin to show its legitimacy as a globally acknowledged unit of account and self-sovereign retailer of worth as nicely. 

Bitcoin Pizza Day is a celebration of cryptocurrency and blockchain expertise’s effectiveness in decentralizing info. It is usually a celebration of Bitcoin’s reliability as a sound type of cash. 

For a lot of others, Bitcoin Pizza Day is a celebration of the crypto values Kraken embodies and the mission we ship on every day. It’s a celebration of the liberty that Bitcoin brings again to people’ capability to attach and transact.