First Bitcoin Exchange, New Liberty Standard: 1 USD = 1309.03 BTC
2009 Oct 5
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First Bitcoin Exchange, New Liberty Standard: 1 USD = 1309.03 BTC @ Satoshi Nakamoto
- Author
-
Satoshi Nakamoto
- Email
-
satoshinakamotonetwork@proton.me
- Site
-
https://satoshinakamoto.network
The first known Bitcoin price, or exchange rate, recorded on 5
October 2009 was published on what was the world's first Bitcoin
exchange site, New Liberty Standard (NLS), a site which offered a
service to buy and sell Bitcoins in exchange for US dollars using
PayPal. The site was operated by "NewLibertyStandard", who was a
frequent contributor to the Bitcoin
forum, and who discussed his exchange site on the forum in posts
such as here.
The very first Bitcoin/USD exchange rate published on the New Liberty
Standard site on 5 on October 2009 was USD $1.00 = 1,309.03 BTC, which
equated to an incredible $0.00764 per Bitcoin, or in other words 7.6 US
cents per 100 Bitcoins.
NewLibertyStandard calculated this exchange rate using a formula
based on:
dividing $1.00 by the average amount of electricity required to run a
computer with high CPU for a year, 1331.5 kWh, multiplied by the average
residential cost of electricity in the United States for the previous
year, $0.1136, divided by 12 months divided, by the number of bitcoins
generated by my computer over the past 30 days.
New Liberty Standard's first Bitcoin / USD prices, 5th – 11th
October 2009. Initial price 1,309.03 BTC per USD
Update: on 28 Dec 2009, NLS quoted that it would sell
1,578.76 Bitcoins for USD $1.00 plus a Paypal transaction
fee.
The best rate quoted for buying Bitcoins on the NLS exchange in 2009
was on 17 December 2009 when you could buy 1630.33 BTC for USD
$1.00.
In early October 2009, there was also an historic Bitcoin/USD
transaction which consisted of a Finnish programmer and early Bitcoin
supporter named Martti Malmi selling 5050 BTC to NewLibertyStandard for
USD $5.02, which was the equivalent of 9.94 US cents per 100
Bitcoins.
Update: Exchange rate of 221.65 BTC per $1.00 on the NLS
exchange, 6 June 2010
Finally, thanks for the proposal of BTC ticker code and Thai baht ฿
for use as Bitcoin symbol.
First Bitcoin Exchange, New Liberty Standard: 1 USD = 1309.03 BTC
2009 Oct 5 See all postsSatoshi Nakamoto
satoshinakamotonetwork@proton.me
https://satoshinakamoto.network
The first known Bitcoin price, or exchange rate, recorded on 5 October 2009 was published on what was the world's first Bitcoin exchange site, New Liberty Standard (NLS), a site which offered a service to buy and sell Bitcoins in exchange for US dollars using PayPal. The site was operated by "NewLibertyStandard", who was a frequent contributor to the Bitcoin forum, and who discussed his exchange site on the forum in posts such as here.
The very first Bitcoin/USD exchange rate published on the New Liberty Standard site on 5 on October 2009 was USD $1.00 = 1,309.03 BTC, which equated to an incredible $0.00764 per Bitcoin, or in other words 7.6 US cents per 100 Bitcoins.
NewLibertyStandard calculated this exchange rate using a formula based on:
New Liberty Standard's first Bitcoin / USD prices, 5th – 11th October 2009. Initial price 1,309.03 BTC per USD
Update: on 28 Dec 2009, NLS quoted that it would sell 1,578.76 Bitcoins for USD $1.00 plus a Paypal transaction fee.
The best rate quoted for buying Bitcoins on the NLS exchange in 2009 was on 17 December 2009 when you could buy 1630.33 BTC for USD $1.00.
In early October 2009, there was also an historic Bitcoin/USD transaction which consisted of a Finnish programmer and early Bitcoin supporter named Martti Malmi selling 5050 BTC to NewLibertyStandard for USD $5.02, which was the equivalent of 9.94 US cents per 100 Bitcoins.
Update: Exchange rate of 221.65 BTC per $1.00 on the NLS exchange, 6 June 2010
Finally, thanks for the proposal of BTC ticker code and Thai baht ฿ for use as Bitcoin symbol.