Business · 19h ago
Bitcoin's First Price Set by Power Bill Math, Not Market
On October 5, 2009, user NewLibertyStandard set Bitcoin's first exchange rate at $1 = 1,309.03 BTC based on electricity costs. A week later, 5,050 BTC traded for $5.02 via PayPal, now worth over $500 million. The founder's main concern was his computer fan noise, not the currency's future value.
Meridian48 take
The origin story underscores how early Bitcoin was a hobbyist experiment, not a financial revolution—its trillion-dollar valuation was never the intent.
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The First Bitcoin Price Ran to Four Decimal Places. His Fan Ran Louder. →
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