Trust begins where actions are visible · 2010

10,000 BTC for an open-source GPU miner

In September 2010, developer Jeff Garzik paid BitcoinTalk user puddinpop 10,000 BTC to release a CUDA miner’s source code. The other famous exchange of that amount did not buy a physical product—it funded open development.

When CPUs were no longer enough

Bitcoin's earliest blocks were mined with ordinary computer CPUs. Graphics processors could perform many similar calculations in parallel, giving a miner a substantial advantage. In 2010, GPU mining quickly produced experiments, closed software and a debate about who should control the technology.

puddinpop's software

A forum participant named puddinpop developed a Windows miner using CUDA, NVIDIA's computing platform for graphics cards. The program worked, but its source was not initially fully open. Users could run the tool without independently inspecting every technical decision behind it.

Payment for a public result

On September 18, 2010, Jeff Garzik transferred 10,000 BTC to puddinpop, and the CUDA client's code was released. The exchange gave both sides something concrete: the developer received compensation for completed work, while the community gained the ability to inspect, modify and improve the tool.

Why this is not merely a story about a large number

Converting those BTC into a present-day price obscures the historical context. In 2010, an open GPU miner helped a young network develop software and spread technical knowledge. The action mattered because a private performance advantage became a shared resource.

Trust through verification

Open code does not guarantee an absence of mistakes, but it allows others to find and correct them. Garzik committed his own funds, puddinpop delivered a result, and the forum preserved the discussion. This is trust grounded in visible action rather than a claim to authority. Continue with our history of mining from CPUs to ASICs.

Open source does not require blind trust in its author: the code can be studied, verified, corrected and extended.

Historical and educational material. Not financial advice.