Self Custody Labs on Nostr: Okay, so everybody knows Bitcoin Pizza Day. 10,000 BTC for two Papa John's pizzas. ...
Okay, so everybody knows Bitcoin Pizza Day. 10,000 BTC for two Papa John's pizzas. The number's basically a meme at this point.
But here's the thing nobody talks about: the actual interesting part happened 12 days earlier.
So back on May 10, 2010, this guy Laszlo Hanyecz posts the first working GPU miner for Bitcoin. Before that, everyone's just mining on their CPUs like normal. GPUs? Way, way faster. We're talking orders of magnitude. By December that year the whole network's hashrate had gone up something like 130,000%.
And get this, between April and November, Laszlo's own wallet pulled in over 81,000 BTC. Almost all of it from his own rigs. So when people gasp about the 10,000 coins he spent on pizza? For him, that was like a week of mining. Pocket change.
He didn't even stop there. He later said he blew through close to 100,000 BTC that year. Pizza, random stuff, more pizza.
But here's why he was doing it. Satoshi had actually messaged him privately and basically said, hey, GPU mining is bad for the network. The whole point was fair distribution, and that needed CPUs. Once you concentrate all the hashrate, the design kind of falls apart. And Laszlo agreed! He literally said he felt guilty for "crapping up the project."
So he started dumping. Not for cash, just... anything that wasn't Bitcoin. And pizza happened to be an easy target.
So yeah, the most famous transaction in Bitcoin history wasn't some clueless dude who didn't get it. It was the guy who basically invented modern mining, feeling bad about it, and paying in the exact coins his own breakthrough let him pile up.
So this Friday, when the pizza jokes start rolling in, maybe remember the other story.
#bitcoin #money #grownostr #selfcustody #pizza
Published at
2026-05-22 11:50:17 UTCEvent JSON
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"content": "Okay, so everybody knows Bitcoin Pizza Day. 10,000 BTC for two Papa John's pizzas. The number's basically a meme at this point.\n\nBut here's the thing nobody talks about: the actual interesting part happened 12 days earlier.\n\nSo back on May 10, 2010, this guy Laszlo Hanyecz posts the first working GPU miner for Bitcoin. Before that, everyone's just mining on their CPUs like normal. GPUs? Way, way faster. We're talking orders of magnitude. By December that year the whole network's hashrate had gone up something like 130,000%.\n\nAnd get this, between April and November, Laszlo's own wallet pulled in over 81,000 BTC. Almost all of it from his own rigs. So when people gasp about the 10,000 coins he spent on pizza? For him, that was like a week of mining. Pocket change.\n\nHe didn't even stop there. He later said he blew through close to 100,000 BTC that year. Pizza, random stuff, more pizza.\n\nBut here's why he was doing it. Satoshi had actually messaged him privately and basically said, hey, GPU mining is bad for the network. The whole point was fair distribution, and that needed CPUs. Once you concentrate all the hashrate, the design kind of falls apart. And Laszlo agreed! He literally said he felt guilty for \"crapping up the project.\"\n\nSo he started dumping. Not for cash, just... anything that wasn't Bitcoin. And pizza happened to be an easy target.\n\nSo yeah, the most famous transaction in Bitcoin history wasn't some clueless dude who didn't get it. It was the guy who basically invented modern mining, feeling bad about it, and paying in the exact coins his own breakthrough let him pile up.\n\nSo this Friday, when the pizza jokes start rolling in, maybe remember the other story.\n\n#bitcoin #money #grownostr #selfcustody #pizza \n\n",
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