It actually traded as low as 0.0005, maybe lower. when it was just being traded privately.
The real question is, why did it take an entire 9 years to get here and who the hell sold for 0.0005? Bitcoin was always worth this price from the day that it came out. but it has taken an entire 9 years to build the exchange infrastucture and attract the attention of all of the people to get it here. Thats 9 years of people who have lost to scam after scam to realize that btc was actually a new paradigm and the real thing.
Topic: Bitcoin 1 cent to $20,000 in 10 years. How ?? (Read 166 times)
But yes, no one knows how it really happened.
There may be no consensus on a definitive explanation but there are many theories. My personal take is to agree with the many people who have argued that the growth in the value of Bitcoin has a strong connection to Metcalf's Law.
https://en.wikipedia.org/wiki/Metcalfe%27s_law
Quote
Metcalfe's law states that the value of a telecommunications network is proportional to the square of the number of connected users of the system (n2).
Analysis of the number of people using Bitcoin and the price back this up.
In 2007, Bitcoin was 1 cent
In 2017, Bitcoin reached $20,000
Just like the other guy replied to you, bitcoin was created on 2009, and the price was aproximately $0,10 on 2010-beggining of 2011.In 2017, Bitcoin reached $20,000
But yes, no one knows how it really happened.
Because of the demand, when there's a big demand for something the price will follow as well. And for bitcoin, before it wasn't so popular so even you own 10,000 bitcoins way back 2010 it's not a big deal. But now everyone is treating it with great worth.
In 2007, Bitcoin was 1 cent
Bitcoin was created on 2009 not 2007.
In 2007, Bitcoin was 1 cent
In 2017, Bitcoin reached $20,000
How ??
In 2017, Bitcoin reached $20,000
How ??
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