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Bitcoin (BTC) First Transaction: JPEG vs. Pizza Debate Ignites Crypto Twitter

Bitcoin's First Transaction: JPEG vs. Pizza Debate Ignites Crypto Twitter

Crypto Twitter erupted on May 14 with the suggestion that the first real-world transaction made with Bitcoin (BTC) may not have been for pizza, but instead, a JPEG, according to a screenshot shared by Bitcoin advocate Udi Wertheimer.

Bitcoin (BTC) advocate and independent developer Udi Wertheimer disclosed that the incident could represent the earliest known purchase made using Bitcoin, predating the well-known Bitcoin Pizza transaction.

The unraveled screenshot is dated January 24, 2010, four months before the notorious Bitcoin Pizza Day, when developer Laszlo Hanyecz spent 10,000 Bitcoin on two pizzas, which is acknowledged as the first real-world purchase with Bitcoin. 

Bitcoin Pizza day

The screenshot features a user named Sabunir attempting to sell a picture for 500 Bitcoin (approximately $1 at the time) on the Bitcointalk forum. 

Interestingly, it also shows that Bitcoin’s pseudonymous founder, Satoshi Nakamoto, was trying to assist in making the sale happen.

However, a gale of skepticism has surrounded the authenticity of the claim

Bitcoin (BTC) Not Likely First Sold for JPEG

In light of the development, Mike McDonald, a professional poker player turned crypto investor, shared a screenshot indicating that the Bitcoin transaction might have been a donation, indicating that the JPEG was not expressly “sold.” 

Meanwhile, Wertheimer later admitted in a follow-up tweet that his original post may have been imprecise. 

Although Sabunir listed the JPEG for sale at 500 BTC and received the same amount at their address a month later, Wertheimer stated that it’s possible the 500 BTC was sent as a donation for another interaction.

It is noteworthy that the main purpose of the 500 BTC transfer remains unclear up till now.

The rumor emerged amidst the Bitcoin Ordinals phenomenon, which has seen over 6.1 million images, videos, and tokens minted on the Bitcoin blockchain via the BRC-20 token standard. 

It should be noted that Wertheimer has been an ardent supporter of Bitcoin NFTs since the Ordinals protocol’s inception by Casey Rodamor on January 21 this year, enabling users to inscribe new data on the Bitcoin blockchain.

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