• Register / Login
  • App Dashboard
  • Profit/Loss Report
  • Mobile App
  • Before and After
  • Reviews and Testimonials
Wednesday, October 4, 2023
All in One Crypto App
Advertisement
  • Home
  • News By Sources
    • CoinGape
    • CoinPedia
    • CoinDoo
  • Analysis
  • FeaturesHot
  • Education
    • How to
    • Trading Tips
No Result
View All Result
  • Home
  • News By Sources
    • CoinGape
    • CoinPedia
    • CoinDoo
  • Analysis
  • FeaturesHot
  • Education
    • How to
    • Trading Tips
No Result
View All Result
All in One Crypto App
Home Analysis Bitcoin

Bitcoin Is Up 6.5 Billion Percent Since It Was First Priced In USD

2 years ago
in Bitcoin, Crypto News, Culture
Reading Time: 2 mins read
This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.

Twelve years ago today, pseudonymous Bitcoin user NewLibertyStandard published what is likely the first pricing of Bitcoin in US Dollar terms.

Twelve years ago today, pseudonymous Bitcoin user NewLibertyStandard published what is likely the first pricing of Bitcoin in US Dollar terms.

On his website of the same name, NewLibertyStandard went on to describe how they formulated their 2009 exchange rate:

“During 2009 my exchange rate was calculated by 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 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.”

The pricing of Bitcoin in dollar terms is remarkable because it signals the first mark of demand for the asset, or one methodology of how an exchange dynamic could arise. This theoretical price signals the following:

Someone in the market was willing to part with $1 dollar for 1,309.03 BTC, because they valued that amount of Bitcoin more than $1 dollar. Conversely, a counterparty at that time (in this case probably NewLibertyStandard as well) was willing to trade 1,309.03 BTC for $1 dollar, because they valued the Bitcoin less than one dollar. The price of 1 BTC was $0.00076392.

On 6 October 2009, the price in Bitcoin rose by NewLibertyStandard’s measure. For a moment that day, the price of 1 BTC was $0.00088454.

At the time of writing, 1 BTC costs about $49,880.00.

Let’s compare:

5 October 2009: 1BTC = $0.00076392

5 October 2021: 1BTC = $49,880.00

49,880.00 – 0.00076392 = 49,879.9992

49,879.9992 / 0.00076392 = 65,294,794.3

65,294,794.3 * 100 = 6,529,479,430%

Bitcoin has risen 6,529,479,430% since it was first priced in US dollars. Bitcoin is the most appreciating asset in human history. 

Source: Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

  • Website
  • Mobile app
  • Telegram Channel
  • Telegram Group
  • Twitter
  • Facebook
  • YouTube
  • Instagram
  • Binance Referral Link
  • Bitmex Referral Link
  • (Recommended For Leverage) ByBit Referral Link
  • Buy Ledger Nano at discounted price
  • Buy Cool Wallets at discounted price

Don't forget to share your review/suggestions for the android app.

All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risks

Share2Tweet1ShareSendShare

Application Menu

  • Register / Login
  • App DashboardSignals
  • Profit/Loss Report
  • Mobile App
  • Before and After
  • Reviews and Testimonials
  • Register / Login
  • App Dashboard
  • Profit/Loss Report
  • Mobile App
  • Before and After
  • Reviews and Testimonials
Contact Us: Telegram

© 2022 All In One Crypto App   DMCA.com Protection Status

No Result
View All Result
  • Home
  • News By Sources
    • CoinGape
    • CoinPedia
    • CoinDoo
  • Analysis
  • Features
  • Education
    • How to
    • Trading Tips

© 2022 All In One Crypto App   DMCA.com Protection Status