BITCOIN SEASON 2: The REAL Bitcoin Pizza Day Story
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 24 May 2025
⏱️ 31 minutes
🧾️ Download transcript
Summary
The real Bitcoin Pizza Day story: Laszlo spent nearly 80,000 Bitcoin on pizza in 2010, not just 10,000. Plus how his GPU mining discovery changed Bitcoin forever and why Satoshi wasn't happy about it.
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Charlie and Colin reveal the shocking truth about Bitcoin Pizza Day that mainstream media got wrong. Laszlo didn't just spend 10,000 Bitcoin on pizza - he spent nearly 80,000 Bitcoin throughout 2010! We dive deep into how his GPU mining discovery revolutionized Bitcoin, why Satoshi sent him a concerned email, and how this "penance" may have actually saved Bitcoin's decentralization in its early days.
**Notes:**
• Laszlo spent ~80,000 Bitcoin total on pizza in 2010
• GPU mining was 10x more powerful than CPU mining
• Bitcoin hash rate increased 130,000% by end of 2010
• Laszlo had 1-1.5% of entire Bitcoin supply 2009-2010
• His wallet peaked at 43,854 Bitcoin
• Total wallet flows were 81,432 Bitcoin
Timestamps:
00:00 Start
00:28 Lies, damn lies.. and pizza
02:21 What actually happened
05:46 It's actually WAY MORE than you think
11:15 Arch Network
11:47 Laslo "saved" Bitcoin
19:12 Pizza or penance?
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Transcript
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| 0:00.0 | Everything you know about Bitcoin Pizza Day is wrong. |
| 0:03.8 | It's way more than 10,000 Bitcoin spent on a pizza. |
| 0:07.0 | That's not just 1.6 billion. |
| 0:09.4 | That is multiple billions. |
| 0:11.2 | There's a lot that you didn't know. |
| 0:12.8 | You've been lied to. |
| 0:14.4 | Bitcoin Season 2 is brought to by Arch Network, Protocol Building, Bridgeless apps on Bitcoin. |
| 0:19.5 | More on Arch later on the show. |
| 0:20.9 | Let's kick it off. |
| 0:28.0 | So, Colin, everybody's been lying to our listeners. |
| 0:32.2 | They say that Laslo, however you say it, Lasson, |
| 0:35.5 | Hanyak spent 10,000 Bitcoin, but that's a lie. |
| 0:39.9 | The fake news media is added again, Charlie. |
| 0:43.0 | And we, the reputable rag independent media that may or may not have typos in some of our |
| 0:49.2 | articles are here to correct the record. |
| 0:51.4 | And you are right. |
| 0:52.7 | Everyone knows about the May 22nd, 2010 historic Bitcoin |
| 0:57.7 | Pizza Day purchase. The first recorded purchase of anything with Bitcoin, which is really |
| 1:04.2 | kind of an exchange. It was brokered OTC on Bitcoin Talk. But for the sake of the annals, |
| 1:08.8 | it was the first real world purchase with Bitcoin. |
| 1:12.3 | And everyone every year on May 22nd on the internet who knows about this is all, you know, |
| 1:19.4 | gobsmacked and up in arms about the fact that this was a billion dollar purchase now at |
... |
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