Open a new document, make the background black and type your letters in white.
Now press CTRL+E to reduce the layers to the background.
2.
Now go filters-blur-gaussian
and set it between 0,8 an 1,5.
Next we need filters-stylize-solarize.
Then use image-adjust-auto channels.
3.
Now go filters-disort-polar coordinates
and choose the lower -polar to rectangular- radio button.
4.
Now go to image-rotate canvas-90°CCW.
Next we apply filters-stylize-wind-from left.
5.
Now go to image-rotate canvas 90°CW.
Now go again filters-disort-polar coordinates
and this time choose the upper -rectangular to polar- radio button.
Looks like speedy text - doesn't it?
6.
Go to image-adjust-hue/satursation
check the "colorize" box if you want any colour in it.
Looks great on bigger images/higher resolutions....