While you might have heard of Bitcoin, chances are you probably aren’t mining it yet. Nor trading in any one of the other cryptocurrencies that have revolutionised the modern banking system.

From Litecoin to Ripple, Dogecoin to Sexcoin, these digital and democratic forms of money exist in a lawless space online, but offer everyone on the planet with a broadband connection the potential to control their own wealth. Or it could even make a slice of pizza worth millions...

Seán will be getting to grips with the virtual money with the help of Michael J Casey, writer of the book Cryptocurrency: How Bitcoin and Digital Money are Challenging the Global Economic Order. Listen in live today at 4pm.

Listen in live here: http://www.newstalk.com/player/

When the first-ever Bitcoin transaction was made at a value of approximately $30, it's very unlikely that anyone anticipated that same amount would soon be worth $5m. But thanks to the skyrocketing value of the online currency, that's precisely the amount one man paid to purchase two Papa John's Pizzas back in 2010.

According to a Bitcoin online forum, Florida man Laszlo Hanyecz promised to pay 10,000 bitcoin to anyone who would deliver him two pizzas back in May of that year. 

He posted in Bitcoin Talk saying: 

"I'll pay 10,000 bit coins for a couple of pizzas... like maybe 2 large ones so I have some left over for the next day. ... I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc. just standard stuff no word fish topping or anything like that."

Someone took him up on his offer, delivered the pizzas, and took payment.

When Mr Hanyecz made the offer, the value of 10,000 bitcoin was equal to $30. By today's exchange rate, the value of the transaction is over $5m (€3.8m). 

It is unknown if the pizza benefactor kept the bitcoin they acquired in the transaction – and there's been no word on whether Laszlo Hanyecz tipped either. 

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