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16 sats \ 6 replies \ @sudonaka 13 Mar 2023
We make fun of 10,000btc for pizza- the actual tragedy was not acquiring other sats afterwards- but selling all your Bitcoin for fiat at $1,000,000 usd/btc would be worse.
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136 sats \ 5 replies \ @nullama OP 13 Mar 2023
Nah, laszlo was basically getting free pizzas from his CPU/GPU mined coins.
He did it multiple times, and it's not like those 10k BTC were the only coins he had.
He even bought 2 more pizzas with lightning when that was new.
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0 sats \ 4 replies \ @sudonaka 13 Mar 2023
Interesting that is a much better ending to the story
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0 sats \ 3 replies \ @ek 14 Mar 2023
Yes. It's funny how many people stop thinking after "he bought 2 pizzas for 10k bitcoin, how much regret he must have now"
But never dig deeper and learn he pioneered GPU mining and he most likely knew that bitcoin will be worth a ton more in the future and making this transaction was proof that it can work as a currency. So he most likely knew very well what he was doing and has in fact no regrets.
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0 sats \ 2 replies \ @sudonaka 14 Mar 2023
Learn something new everyday. Although if he was gpu mining he probably sold them along the way to cover electricity costs… somehow I don’t think the OGs would be mad if we told their stories the tragic boating accident way ;)
https://youtu.be/j28hkTJMuTA
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3 sats \ 1 reply \ @nullama OP 14 Mar 2023
He actually published the first GPU miner.
At that time, you got 50 coins per block, and with a GPU you would get a lot of them.
10,000 BTC is simply 200 blocks. In those days with a GPU you would probably be able to get them in a couple of weeks.
Electricity for a 2009-2010 GPU?, not much. It was basically free pizza.
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0 sats \ 0 replies \ @sudonaka 14 Mar 2023
The energy cost is key to Bitcoin value. Many stories of even the OGs who lost/sold their coins at $500 for example- if you understand what I’m doing on a public forum then I think you would agree he probably never got that many coins back🫡
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7 sats \ 0 replies \ @nullama OP 13 Mar 2023
This was posted in 2012.
To be part of this club you have to control at least 2,100 bitcoins, that is 1% of 1% of the total.
Interesting window into the past.
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