On this day 14 years ago, the Bitcoin price was born.
As noted in a post on X today by Bitcoin Historian Pete Rizzo, October 5 marks the anniversary of the date on which NewLibertyStandard, a pseudonymous early Bitcoin user made public the first U.S. dollar price valuation for Bitcoin.
A home miner at the time, NewLibertyStandard notably used the price of electricity to calculate the exchange rate, factoring how much it cost for him to power his personal computer as he mined coins with little competition.
At the time, he reached the conclusion that 1,309 Bitcoin were worth $1, meaning that a single U.S. dollar could buy the Bitcoin produced by 26 blocks.
The calculation marked the first time that anyone had priced Bitcoin above zero. As noted by Rizzo, Satoshi Nakamoto never priced Bitcoin, nor, as far as we know, offered to buy or sell Bitcoin for dollars.
The date is notable as since then, Bitcoin, the world’s first cryptocurrency, has achieved a staggering milestone, with its p
We współpracy z: https://bitcoinmagazine.com/culture/bitcoin-price-up-3-6-billion-percent-since-it-was-first-priced-above-zero
