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Wednesday, February 28, 2018

The Guy who Bought Two Pizzas for 10,000 BTC in 2010 does it again

Laszlo Hanyecz was the first to buy pizza with Bitcoin in 2010, currently worth over $100 million. You can find the original Bitcointalk post here. Now, he upped his game being the first to use the Lightning Network for a pizza order. Hanyecz wanted to try out the new Lightning Network in real life with a pizza order. He orchestrated the transaction to be issued by his friend from London and then he arranged a local pizza shop to take the order. Has it worked? “I wanted two pizzas and to try to do it as close to automatically as possible. I didn’t want to prepay and end up with no pizza. As far as I know, we don’t have pizza/ bitcoin atomic swap software but we improvised and decided that I would need to provide the payment hash pre-image to the delivery driver in order to claim my pizza. If I can’t provide the pre-image, providing that I paid, then the pizza would not be handed over and it would be destroyed.” The Bitcoin Lightning Network surely was up to the task. Could this be a start for something more in the future? Is the Lightning Network a disconnection from Bitcoin’s philosophy? There are two sides to every story and as some saw the new implementation as a point of concern, other greeted it with optimism, as it could resolve Bitcoin’s scaling problems with fees and transaction times. Even if Bitcoin wasn’t in essence created for pizza delivery payment, Laszlo’s “experiment” resulted in a tasty meal and good PR for Bitcoin and the Lightning Network.

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