Bitcoin Pizza Day — A celebration of decentralization

Pizza events hardly ever want an evidence. However pizza events on Bitcoin Pizza Day deserve one. 

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

At bitcoin’s worth immediately, these pizzas are value ~$270,000,000. 

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

Finally, Bitcoin Pizza Day has change into a celebration of Bitcoin’s viability as a whole “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 today greater than a decade in the past, the world noticed that Bitcoin may very well 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 change into a reminder of the progress Bitcoin has made within the different two capabilities of cash as nicely.

As people proceed to trade Bitcoin for items and companies — simply as Hanyecz did years in the past — Bitcoin’s viability as a worldwide unit of account and unbiased retailer of worth has additionally emerged. Days like immediately 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 data. It’s also 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’ skill to attach and transact.