The #Day #Bitcoin Was Worthless 📈💰
In early 2009, having 1,000 BTC was the same as having air: they were worthless.
Satoshi's big dilemma was:
How do you assign value to something you just invented on your computer?
The answer came on October 5, 2009.
A mailing list user known as "New Liberty Standard" published the first exchange rate in history.
He didn't use speculation; he used pure mathematics and engineering.
How did he calculate the first price?
He measured how much electricity his computer used to mine a Bitcoin block and compared it to the cost of internet access.
The result: $1 was equivalent to 1,309 BTC. (Less than one-tenth of a cent per coin).
A few days later, on October 12, the first real sale outside of mining took place.
Programmer Martti Malmi sold 5,050 BTC to New Liberty Standard for the stratospheric sum of $5.02 via PayPal.
That day, code became money. For the first time, someone was willing to exchange real money for ones and zeros on a screen.
Without that first $5 transaction, we would never have reached today's global markets.
#Nostr #hi #hola #GM
Mrbloom
npub108…2tcw0
2026-05-20 11:40:39 UTC
Author Public Key
npub108uxd25ppazvv955akcz84e2trr9fdnc9vmxglu8lhc6pl8jn9mqk2tcw0Published at
2026-05-20 11:40:39 UTCEvent JSON
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"content": "The #Day #Bitcoin Was Worthless 📈💰\n\nIn early 2009, having 1,000 BTC was the same as having air: they were worthless.\n\nSatoshi's big dilemma was:\n\nHow do you assign value to something you just invented on your computer?\n\nThe answer came on October 5, 2009.\n\nA mailing list user known as \"New Liberty Standard\" published the first exchange rate in history.\n\nHe didn't use speculation; he used pure mathematics and engineering.\n\nHow did he calculate the first price?\n\nHe measured how much electricity his computer used to mine a Bitcoin block and compared it to the cost of internet access.\n\nThe result: $1 was equivalent to 1,309 BTC. (Less than one-tenth of a cent per coin).\n\n A few days later, on October 12, the first real sale outside of mining took place.\n\nProgrammer Martti Malmi sold 5,050 BTC to New Liberty Standard for the stratospheric sum of $5.02 via PayPal.\n\nThat day, code became money. For the first time, someone was willing to exchange real money for ones and zeros on a screen.\n\nWithout that first $5 transaction, we would never have reached today's global markets.\n\n#Nostr #hi #hola #GM \n\n",
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