On May 22, 2010, the encryption pioneer Laszlo Hanyecz purchased two pizzas with 10,000 BTC. This was not only the first transaction of physical goods in the history of cryptocurrency, but also the first time that BTC demonstrated its currency properties. Today, fourteen years later, the development of the cryptocurrency industry is heading towards maturity.
In order to pay tribute to early encryption pioneers like Laszlo Hanyecz and to spread their spirit of bravery, adventure, and innovation to all corners of the world, OKX Web3, a long-term builder of the encryption industry, has created a unique “Bitcoin Time Museum” on the streets of Taipei during the 2024 BTC Pizza Festival. It has attracted tens of thousands of visitors to travel through time and review the history of Bitcoin development.
During the event, over a thousand people visited the Time Museum to take photos and participate in the festivities. They also enjoyed customized pizzas, beer, and other benefits through participating in fun games organized by OKX Web3. In addition, Professor Liao Shih-wei from National Taiwan University, well-known Taipei encryption KOL (Key Opinion Leader) Saint Keshi, computer science girl Li Tingting, and DA Studio founder Zi-jun also came to the scene to take photos.
Of course, it is worth mentioning that OKX Web3 also initiated a “Pizza Day Street Challenge” on Pizza Day. By taking to the streets with seemingly “ordinary” cards, they surprised those who dare to boldly try new things. The purpose is to pay tribute to the revolutionaries in the encryption industry, like Laszlo Hanyecz, and the brave pioneers, and to convey the spirit that brave people enjoy the world first.
Looking back at the history of Bitcoin development, we can’t help but marvel at the power of creation and innovation.
In November 2008, Satoshi Nakamoto published a paper on a cryptography website, describing for the first time the Bitcoin electronic cash system. Then, on January 3, 2009, Satoshi Nakamoto successfully mined the first block of Bitcoin, called the “Genesis Block,” on a small server in Helsinki, Finland, and received the first mining reward of 50 Bitcoins.
As time went on, Bitcoin gradually attracted more attention. On January 23, 2010, a BitcoinTalk forum user named Sabunir released an interesting topic on the forum: “Test for beginners: Does anyone want to buy a picture for $1?” He asked if anyone would be willing to purchase a wallpaper with a resolution of 1280×960 for $1 worth of Bitcoin and left his wallet address. Just a month later, those 50 Bitcoins were sent to his address, marking the first publicly known Bitcoin real-world transaction.
On May 22 of the same year, Bitcoin reached another milestone event. The encryption pioneer Laszlo Hanyecz purchased two pizzas with 10,000 Bitcoins, marking the first publicly known Bitcoin purchase of physical goods. This event not only demonstrated the practicality of Bitcoin in real life, but also became the origin of the industry’s annual Pizza Day.
As time went by, the influence of Bitcoin continued to expand. On January 14, 2012, Bitcoin made its first appearance in the American drama “The Good Wife,” further increasing its popularity among the public. Since then, the price of Bitcoin has continued to rise. In March 2017, the price of one Bitcoin exceeded the price of an ounce of gold for the first time. Then, on November 28 of the same year, the Bitcoin trading price broke through the $10,000 mark for the first time.
On May 12, 2020, the 630,000th block was mined, and the block reward for Bitcoin decreased from 12.5 BTC to 6.25 BTC. This was the third halving event in the history of Bitcoin. This event marked the increase in mining difficulty and the reduction in rewards for Bitcoin, but it also promoted the security and stability of the Bitcoin network.
In recent years, the acceptance of Bitcoin has been continuously increasing worldwide. Especially this year, on January 10, the U.S. Securities and Exchange Commission (SEC) approved the first Bitcoin spot ETF, marking the formal entry of Bitcoin into the mainstream financial market and indicating a structural change in the Bitcoin-centered encryption market.
As early builders in the industry, OKX Web3 has been committed to the construction of the Bitcoin ecosystem while paying tribute to industry pioneers.
So far, OKX Web3 Wallet has launched the Ordinals, Atomicals, and Runes markets, helping users experience the latest developments in the Bitcoin ecosystem in a timely manner, and providing users with a one-stop entrance to explore the Bitcoin ecosystem. In addition, as the Bitcoin ecosystem continues to develop, the OKX Web3 team is also building around the Bitcoin ecosystem in various aspects, such as wallet tools, browsers, trading markets, protocol standards, cross-chain bridges, and Bitcoin Layer2. In the future, OKX Web3 will adhere to the spirit of innovation and embark on a new journey with the encryption industry.
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