04.03.2024

How a pizza delivery man increased his tip 79x thanks to Bitcoin

A user of the social platform Reddit under the pseudonym btcbible published a rather interesting story, which is somewhat reminiscent of the famous purchase of two pizzas for 10 thousand bitcoins more than ten years ago.

In this case, the courier of the cryptocurrency lover was lucky, who has made good money by now. It’s about $ 400 , which is more than cool as a tip for food delivery.

By tradition, let’s start with an explanation. Buying two pizzas for 10 thousand bitcoins is a real story that happened to the programmer Laszlo Hanech. In May 2010, he wanted to buy pizza and use cryptocurrency for this. Since bitcoins then cost a few cents, the cost of food in the relatively modest $ 41 was translated into 10 thousand BTC. He paid them to a user who agreed to accept cryptocurrency for his services.

Since the data on the blockchain of Bitcoin and other cryptocurrencies remains forever, the pizza payment transaction is also available here. 10 thousand bitcoins reached the recipient.

pizza bitcoin

Transfer of 10 thousand bitcoins for two pizzas

Naturally, as a result, the amount of coins spent has grown to incredible heights. Even today – taking into account the collapse of the Bitcoin exchange rate below 50 thousand dollars – Khanich’s transfer is equivalent to 474 million dollars. Fans of cryptocurrencies have even created a special website that tracks the actual value of pizzas in dollar terms.

bitcoin pizza price

The cost of Bitcoin pizza today

This situation illustrates how early the cryptocurrency niche is. And judging by what is happening today, the blockchain asset industry still has room to grow.

Why buy cryptocurrencies

Now back to history. According to btcbible, on December 28, 2013, he ordered a pizza and gave the courier the opportunity to choose from two options: a tip in the form of a regular $ 5 bill or 0.0069 BTC on a paper wallet, which at that time were transferred to about the same $ 5 at that time. The courier settled on the second option.

Recall that at that time, the value of Bitcoin reached the level of $ 774 .

Here is a quote from a user who decided to experiment with tips. The replica is provided by Cointelegraph.

I let the courier choose between $ 5 in fiat or BTC. He made a wise choice. I showed him how to import a private key through the Electrum wallet.

Recall that a private key is a combination of numbers and letters, which is a universal «password» for a cryptocurrency address. Anyone with the correct private key can access the contents of the wallet. In this case, the user allowed the courier to write down the necessary data for himself.

pizza delivery Bitcoin

This is how the couriers who worked for bitcoins in 2013 would look like now.

Almost eight years later, the same courier contacted the cryptocurrency enthusiast and asked for help in withdrawing funds from the wallet. Given the recent skyrocketing Bitcoin price to over $ 58k , those same cryptocurrency tips have now risen to $ 400. That is, the growth was at least 7000 percent .

pizza bitcoin

Pizza for 10 thousand bitcoins looks like this

However, the deliveryman will also have to incur some expenses. We are talking about paying a commission for transferring a cryptocurrency to an exchange or another buyer’s wallet. We have updated the latest data: yesterday, the average cost of transferring coins on the Bitcoin network was $ 25.

bitcoin commission chart

Graph of the average cost of transfers in the Bitcoin network

As you can see, even then, Bitcoin was already beginning to gain popularity as a quick means of payment for everyday services. When an early blockchain enthusiast introduced the courier to the basic principles of cryptocurrency, he himself could have a superficial understanding of the basic concepts of the crypto market. And given the current behavior of the coin market, we can safely assume that in the future, people’s interest in Bitcoin will grow even more against the backdrop of mass adoption.

We believe that the pizza delivery man deserves his award for sure. Still, not losing bitcoins within seven years – especially given the modest value of the cryptocurrency in those days – is quite difficult. So everything worked out honestly here.

In general, the situation once again resembles how actively cryptocurrencies are able to grow. Moreover, even those people who do not really understand investments can make money with them. The main advantage in this particular case was patience. The result is a great example that I want to repeat – only with more significant amounts.

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