Topic: Today in history: The first recorded Bitcoin exchange went live (Read 296 times)

In the early days, no one would've imagined Bitcoin to become as big as it right now. After the first Bitcoin exchange went live, prices started to gradually gain momentum. If BTC went from $1 to $69k in just a few years, imagine how high it will go 1-2 decades from now. That's assuming demand stays high and block rewards continue to decline over time. It's funny to think how exchanges went from something "humble" to something as big and powerful as banks.

Nowadays, these entities hold "all of the cards" in the crypto/Blockchain industry. They can either move Bitcoin prices up or all the way down the drain in an instant. That primitive exchange (NLS) paved the way for centralized exchanges to take over the market. If it were decentralized, things would've been different now (decentralized exchanges dominating the market). At least, NLS helped introduce Bitcoin to the world. It's only been 14 years since BTC's inception, so I'd expect many great things to come in the long run. Just my opinion

As I have expected that the site is no longer running or no site is up with that name. Anyway, I already checked the account when I was posting it and I did mentioned it that the account is not active and the date where the account is last active here in the forum, that's why I ask if the site is up and still running to this day and year. I don't remember entirely but there's a site having a forum account here in bitcointalk but it is not very active and most likely inactive but the site is up and running and I do remember that it is a casino

It is actually very interesting, in a sense that it was the first Bitcoin exchange. This deserves a lot of recognition and credits because without it, I don't think we can get what we have now. I searched the name of the exchange in Google and I clicked their domain name.

I was surprised that it was still accessible and they added some functions there including the NFT's. Here: https://newlibertystandard.io/exchange is the link BTW to the exchange. I noticed that the rates are still the same as what is seen here in the OP. Maybe we can try to contact them on their provided email and purchase a thousand of BTC for 1 dollar? . You mentioned Freebitco there, but they are not an exchange. Rather they are just a faucet with some added gambling on the side. They aren't also the first in this category.

We can not turn back time and there is no time traveling machine to use but we can fix our past mistakes or missing chances. We are still not too late in the party and we still have time to accumulate bitcoin.

The most painful mistake is not missing or ignoring Bitcoin years ago when you were exposed about it but it is when you want to be sharp and find hidden gems with altcoins. Most of altcoins are dead coins and the more effort to find altcoin hidden gems, a more risk you will lose money to scam coins.

Dead Coins: How Many Cryptocurrencies have Failed?

The role of NLS was very basic at that time when bitcoin was invented no one trusted it but they introduced it in the crypto world and provided a means for people to trust and transfer it. It also has a unique position because it was a single-made project, one individual made it now don't whether it is still worked or not but if it works then I think it will be the most trustable and reliable exchange than others. Look at the other exchanges they are coming after 5 or 6 years of Bitcoin innovation but NLS started working just after the Bitcoin came into the market so that why I supposed that if it will still work then maybe it would be the most trustful exchange, but yeah trust is not all the things you need to focus on the fee structure if it is high from the others then how you can hold your fund in it.

You know what, it's all about those lucky folks who are sharp enough to spot those life-changing opportunities. We can't turn back time, so we've got to find inspiration moving forward. I'm not sure if we'll ever accumulate a significant amount of Bitcoin in the future. I mean, there are experts out there predicting Bitcoin will hit $1 million by 2026, but is that for real? Are we gonna ride with that prediction? Investing these days isn't like it used to be in the past. It seems like those with big capital are the ones making the huge profits. With that said, maybe I'll start looking into some altcoins that could potentially take off like Bitcoin did. You never know what hype can do.

From this link (https://www.bullionstar.com/blogs/ronan-manly/dawn-of-bitcoin-price-discovery-2009-2011-the-very-early-bitcoin-exchanges/), provided in the post by the author of the topic, I thought it was funny.


Even taking into account that the transaction fee exceeded the transaction amount for the purchase of bitcoin, taking into account current realities, this still remains one of the lowest transaction fees in the amount of $ 44.093.188,04 (1578,76 BTC x ~$ 27.929).


I don’t know how relevant this information is on commissions for 2009 (taking into account different countries), but it was probably a similar percentage + a small fixed amount.

I agree, it's almost impossible or simply unnatural for somebody to have bought something at $1 and not sell it while there are still buyers at $1,000. You got it for next to nothing; you can readily observe around you that it's still pretty much unknown, no business is accepting it; it's basically just a creation of somebody unknown and not by a bank or a popular company; these are reasons which might convince an early adopter to take advantage of what might be considered a sudden and quick hype.

However, although $1,000, for example, is already a crazy number if we are to consider that it was just $0.00099 years ago, this isn't completely unthought-of. This number isn't entirely unimaginable. Some adopters are probably already doing some early arithmetic that sees that possibility. Hal Finney, as early as a week after the launch, had already computed that it could reach $10 million. And although the possibility is "slim", you're risking only what, a dollar or a few cents? That bet is still worth it.

Yeah, even now, since there's still less than 10% of the world's population who owns Bitcoin, the room for growth is still huge. And especially considering that institutions are now coming in, it seems nothing can go wrong with our Bitcoin bet. $100,000 is a given, but there's certainly more.


No volume is next to impossible, at least with how things are developing right now, so 20 years from now, that's 2029, there will certainly be a much larger volume. We're on the right track.

He had his predictions for Bitcoin future, years ago.
Do you feel great with his predictions?

It is like making a prediction with two tails for Bitcoin future. Massively success or failure, he has great vision.

Most of them bought Bitcoin at cheap prices like few cents and lost their coins because they did not seriously with what they bought, did not backup or just lost their backups.

From on-chain transactions, there are actually people who still hold their bitcoins from many years ago. On Twitter, you can get alarms from some accounts that some old bitcoins are moving recently. Usually, those old bitcoin movements will be shilled on media and you will know about them. Usually those news are fud on the market when Bitcoin just top off and around its resistance or nearly to start losing its support.

That's a crazy number and I bet early adopters and even Satoshi couldn't have predicted bitcoin would be such a success. To be honest, I don't know if anyone has been able to hold the bitcoins purchased since then until now, but I believe the majority sold out when bitcoin hit $1k and will buy back later at a higher price than. I really don't think anyone has the courage and confidence to buy bitcoin for less than $1 and not sell it until now.

Talking about the current potential of bitcoin, let's look at the fact that less than 10% of the world's population invests in bitcoin and once it becomes legal and globally accepted, and if everyone wants to own it. What will happen to bitcoin price? We still have the opportunity to own bitcoin at a cheap price compared to its real value.

Yes, but we just have to think that at some point no one really knows that Bitcoin could reach that high is just a span of 14 years. Sure there are people who held stocks for more than 10 years and yet the return is not as big as if they have invested on Bitcoin. And probably if someone did, then it's the proverbial we can live happily ever after with our stored bitcoins and then sell at some point (during all time high), and become a self made millionaire.

So let's just appreciate that fact, but don't be dishearten as there are still some left in circulation. It's just getting harder to get as everyone wanted to get their hands on that precious Bitcoin and HODL as long as they can.

From a dollar to $36,034,846.94 or even $90,323,070 during its ATH, and only in 14 years, if somebody was solid enough to have kept it through all those years, he/she deserves a daily vacation for the rest of his/her life. If that were me, I'd now be living in front of the beach somewhere far from the city.

Yeah, we're now beginning to appreciate Bitcoin more for what it truly is than a way to retire early, although at $28,000 it could still multiply several fold. So, yeah, now's still the best time to stack some Sats.

Well, it would have been difficult to hold all of that bitcoin for that long, after all once bitcoin reached 1 dollar per coin then you could have obtained 9k dollars if you were to sell, then once bitcoin reached 10 dollars per coin then that would have meant 90k dollars, my point is that the greater the increase on the price of bitcoin the more challenging it will become for those people to hold their coins, which I think it explains why the stories of people losing their coins or selling for a bad price are more common than the success stories.

Sorry, It was a mistake from my side. I fixed my mistake.

I just can't quite imagine that during 2009 for 1 USD you had 867BTC. Think about it. Let's just assume 1/4 of that you held bitcoin at 216.75 btc. How much is that at the current price of bitcoin around 5.8 million dollars? The only thing you can really do is enjoy life.

So the only thing we can do is remember and move on. At least the important thing is that everything has not become too late for us, and we are still continuing and doing what we should do to accumulate Bitcoin and other cryptocurrency assets.

Regrets mate, for sure majority of us here wishes that we can buy that small money with huge amount of bitcoin and just wait for it to explode. But it any case, we are still standing and we should learn from the past. So instead of procrastination, we can do something today and then wait for the next bull run or just hold the bitcoin that we have accumulate and see how it goes in the future. It could really be worth something big as well, just like what those early bitcoiners have before us.


Let me help you with this one:  New exchange (Bitcoin Market).

Interesting, Imagine me that time buying $5 valued Bitcoins and forgetting till today, and now here in 2023 after going through this post unlocking my old wallet. Having Millions of worth Bitcoins. Ahhh what a happy moment that can be.. anyway, that really great to hear about such moments of Bitcoin. The initial price is quite surprising.

I am not sure how many P2P Bitcoin exchange services are running at the moment on the forum, I'm sure there will be a thread I'll search for it and definitely quote it out.

It's unbelievable that at one time, you could have bought 900 Bitcoins for just 1 dollar. Imagine you spending just 10 bucks for the sake of "Technology" and keeping them locked for like 10 years?
9,000 Bitcoins for $10 is a sight that I am sure only 1% of us would have seen in their life. And I am sure, many of you still regret every day why you did;t buy more.

Now Imagine the same thing 10 years from now, 1 Bitcoin will be quite impossible for many of the people in the world to obtain.

This historical account serves as evidence that the space for cryptocurrencies has consistently grown and expanded. Those who are just beginning to explore Bitcoin are likely to be familiar with Binance or Kraken, which are currently the most popular international exchanges. What's rather astonishing is the fact that back then, you could acquire 1,000 BTC for just $1. Anyone witnessing such prices would undoubtedly yearn to hop into a time machine and purchase as much as possible during that era, potentially becoming wealthy individuals today.

Hihi, if there would have been an influx of people throwing money at Bitcoin in those times after the first thousands or so it would have just raised in price similar to 2011 so to get a better deal you would had to beat the others that would have had the same idea.
But, more importantly, if you would have had bought at a rate of 1000BTC per $, do you think you would have also managed to hold onto those Bitcoins once they reached 1k and that $1 turned into one million?


Where are they claiming that, it's written even on their front page: