Just as the title says, New Liberty Standard was the very first cryptocurrency exchange website we got, and it has been 14 years since it was last launched. That too at the rate of 0.0007639419 USD, imagine being able to buy Bitcoin at the rate of Shiba Inu.
The actual price that was set by them was by keeping the cost of electricity, or, you can say, the cost of mining bitcoins, back then in 2009.
How website first looked like in 2009
And fast forward to today, and the cost of transferring bitcoin is ten-twenty times more to what one would have got after selling 10K bitcoins. To add more, 1309 BTC is equivalent to $90.3 million at its peak price of $69,000 per BTC, and now it would still have been $36.65 million something.
The user who created that exchange
Fun Fact: NewLibertyStandard was the first person to buy Bitcoin, It was the first time Bitcoin had value in fiat terms instead of being a collectible. He bought 5,050 BTC for $5.02 to start the world's first Bitcoin trading service.
The OG manually transacted BTC exchange is kinda sick
To anyone feeling sad for missing out you’d have Surely sold at 2,3,4 if not then definitely 5x
Wish I’d paid more attention to BTC in 2009 rather than focusing on University and world of warcraft character builds…
1309 BTC for a dollar ? I would’ve sold when it hit $1.50
It was so complicated at the time that I doubt 95% of people today would be able to buy/hold Bitcoin.
You literally had to be a programmer or something at that level.
I hope they held onto some of that BTC…
So 10K BTC for a pizza wasn’t that bad of deal. Ir was pretty much market value.
This makes my head hurt. Good for the people that invested back then.
All these posts about BTC being super cheap over a decade ago just makes my head hurt and hate my life even more 😞
right, all these newspapers that say “well if you had bought $500 worth”
there literally wasn’t $500 worth of bitcoin in existence
1309 BTC for only 1$ 🤯
14 years later the goal of most ppl is 1 BTC.
The world is a funny place.
Amazing how far it’s all come in 14 years. Hopefully we’re all here in 14 years time when we see a similar post and we can smile and say yeah, we bought at a mere 27k!
Pretty amazing and thanks for reminding me I could have been ultra wealthy today for a few hundred dollars 14 years ago!
Curious is there any exchanges from back then, that are still around today. And when did cold storage wallets come about? Just in case I go back in time, so I know where to buy and store my crypto.
And I was 14 years younger with no money to buy a single bitcoin.
Please enough of this kinda news….. it’s always getting depressing. Pretty sure if we got the the chance to buy it then, we would have sold it years ago
Bitcoin pros & cons with related info are in the collapsed comments below.
Every one of these posts is salt in the wound.
If only…
>”15,100 bitcoins available”
So they literally started out with $10 worth to sell?!
…obviously because they were mining there would be more coming to replace that, but the volume is still much smaller than expected.
Wish I was there
Give me a minute, going to build my time machine real quick!
Imagine a world where there isn’t some foundation or a bunch of vcs holding massive reserves ready to dump on retail. Imagine where you don’t get more coins just for having coins and staking them. Imagine having to use actual work and resources to acquire the asset.
Bitcoin is still the king for a reason and it’s not just because it was first. Nearly all other crypto assets are a bad deal for you at best and a flat out scam at worst. The faster people learn this lesson the better they do.
Just remember there’s probably something starting now, albeit not at BitCoins level, that can yield insane returns. What that is….well now we’re back at BitCoins early days
Everything’s gotta start somewhere. Just like me with my first moon, but there will be much more in the future
Looks like that exchange was closed down by the creator the following year due to “personal time constraints”. Guy was an innovator for sure
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https://web.archive.org/web/20130627173727/http://newlibertystandard.wetpaint.com/page/Exchange+Rate
Hindsight is a bitch
Being a big tech enthusiast since forever and with a degree and job in IT, sometimes I wonder, how tf did I only got interested in bitcoin in 2021!
I would have sold it when it hit £1. I don’t have diamond hands.
Just for perspective sake 1309BTC = ~$37M
Looking at these retro websites from the nascent days of bitcoin is so cool! Thanks OP for sharing this post
Will we be talking about Moons like this in 14 years time?
Gotta remember back then no one thought bitcoin was going to be a thing. Back in 2010-2011 I heard about it but it was a guys with pony tails computer nerd thing. No one saw it as a hard asset to invest in. It was seen as a really volatile and therefore poor form of internet currency. A fun little silly experiment. Cool idea but not useful for what it was intended. Obviously things have changed since then.
We’re early but that was earlier
Ooh! It says you could double your money!
Just imagine holding 1,309 Bitcoin till $60K, you would have $78.5 Million from just $1!
36 million aka less than what top nba players get these days. And the only reason they get that much is because of how big the nba is in China. So lets hope China one day starts to covet bitcoin
What an incredible moment in the history of the crypto ecosystem, it will have been a pleasure for those early ones who were able to enjoy it.
Anyone buying at that price is the trader of the century. Buy like $10 worth and be a millionaire! Crazy stuff.
Can you imagine posts like this in 10 years from now, talking about our moons?
I had a long talk with someone when it was $2.50 and, I didn’t see it becoming a thing…
🤦♂️😳😢
People who bought and forgot won actually…
I’m just praying God directs my steps with regard to Crypto investments so I can profit after just starting in June.
Any proof of anyone who bought Bitcoin from them in 2009 and was able to transfer it off and sell for a huge profit years later?
Most people would have sold at 10x. Everything is relative. Just the same way I sold most of my $70 BTC at $700-$990. We traders needed to take profits to secure our profits, and we knew we would have to live with our decision if BTC would shoot to the moon.
My new strategy is to sell half when investment hits 10x and leave the other half until another 10x, and then again sell half to secure profits, leaving the other half untouched.
This doesn’t mean your $1 = 50,000,000,000 tokens shit coin is gonna make you rich.
Egads lol
I would’ve forgotten about my 1309 BTC and when I heard ot was at $5k, I’d go look for my old laptop only to find out thar my wife threw it away.
I’d be searching the dump on the regular.
That’s very nice.
Do you know if the exchange got hacked like all the others or did some people manage to make a few bucks on there/ retain some btc