The last decade has seen unprecedented growth in the field of digital payments. In 2009, Bitcoin emerged as the first decentralized payments network, and with a myriad of technological upgrades, it has achieved excellent network performance and attracted several investors over the last decade. Innovative applications, smart contracts, decentralized finance, and interoperability are just the tip of the crypto iceberg, and there is so much more to come.
When Bitcoin came into the picture over a decade ago, its value was close to nothing. Back then, it wasn’t even a popular mode of payment, until Laszlo Hanyecz, a Florida-based developer, decided to make the first-ever BTC purchase. On 22nd May 2010, he put out a post on the Bitcointalk forum, offering to pay 10,000 BTC to anyone in exchange for two pizzas. In the end, two pizzas were delivered to his house, and he settled the $45 bill with 10,000 BTC. If we equate that with current prices, the pizzas cost him more than 400 million USD.
This was the first thing to be purchased with Bitcoin in the whole world, and hence, the day is a big deal. Netizens worldwide celebrate May 22 as Bitcoin Pizza Day and regard Laszlo as the Bitcoin Pizza Guy. Laszlo set a monetary value to each BTC token with his purchase, and it no longer remained just an internet experiment. Over the summer, Laslo made many more such purchases and eventually ended up transacting 100,000 BTC tokens. With this, he set the wheel of digital currency payments in motion.
However, did you know that Laslo’s contribution to the world of Bitcoin isn’t just limited to pizza purchases? His contributions in the field of Bitcoin mining are equally valuable. Before he entered the picture, the only way to mine BTC tokens was by using computer processors (CPU). These were very slow- much slower than the ASICs that are in use today. Laszlo identified the possible use of graphic cards or GPUs for Bitcoin mining and wrote the entire algorithm for it, which was eventually adopted in the Bitcoin code.
The man alone raised the demand for GPUs over the years. Today, warehouses packed with ASIC-based systems sustain the entire network with zero downtime. This has only become possible due to the efficiency offered by GPUs, which keeps the network afloat. Laszlo is truly the unsung hero in the world of Bitcoin, and Phemex is devoted to giving him his due.
Help Phemex find Laszlo
Phemex is a Singapore-based cryptocurrency exchange. Recently, it amassed over 1 million traders on its global crypto-trading platform while reporting a growth of 156.9% in the number of traders in the first quarter itself. Additionally, it also reported that the trade volume on its platform increased by 465.2% in Q1 compared to last year, which is humongous growth. According to the team, the reason for this is the fact that Phemex consistently upgrades its platform, adds new features, and engages with the community to ensure that the user experience is uncompromised.
The development of the world of digital currency and payments is the core of their philosophy, and they’re committed to taking it forward. In light of this, and with Bitcoin Pizza Day just around the corner, Phemex wants to recognize Laszlo’s work and that of the community. Even though Laszlo has no regrets about making those Bitcoin payments for peanuts, Phemex intends to reward him for his significant contributions to the world of Bitcoin mining.
As a way of showing its appreciation, Phemex is offering Laszlo an opportunity to spend 10,000 BTC again, only this time, he will surely make some profits. Phemex recently announced the launch of their asset management service platform called Earn Crypto, which offers traders 10% APY in interest up to 1.5 million USDT. Laszlo is being invited to deposit the offered 10,000 BTC in Earn Crypto for a day, and he can earn up to 110,00 USD though this.
As of now, the Phemex team hasn’t been successful in getting in touch with the Bitcoin Pizza Guy, and this is where you can step up and help. Anyone who helps spread the word can earn up to $10,000 worth of BTC as a reward. All you need to do is hop on to the Gleam campaign page, and participate. In order to participate, you need to complete tasks, and each task you complete counts as an entry in the campaign. The more the number of your entries, the more likely you are to win. At the end of the event on Bitcoin Pizza Day, 100 lucky participants will receive rewards- even if Laszlo doesn’t turn up.
There is no better opportunity than now, to recognize Laslo’s unmatchable contributions in the world of Bitcoin. He brought about a revolution in the world of decentralized payments, and for that, we are forever grateful.