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Topic: When $1 was exchanged for 1,300 bitcoins, Why was this done at the time? - page 2. (Read 5994 times)

bryant.coleman
legendary
Activity: 3766
Merit: 1217
Re: When $1 was exchanged for 1,300 bitcoins, Why was this done at the time?
December 16, 2013, 04:10:35 AM
#16
Quote from: cerleo on December 16, 2013, 04:05:33 AM
Well,as some of you said sometimes you buy just for the fun ot to see what will happen.I believe this was the case here,as well.

But then the Ebay seller was asking more than $450 for 6,000 coins. At that time, the going rate was less than $5 for the same.
cerleo
newbie
Activity: 56
Merit: 0
Re: When $1 was exchanged for 1,300 bitcoins, Why was this done at the time?
December 16, 2013, 04:05:33 AM
#15
Well,as some of you said sometimes you buy just for the fun ot to see what will happen.I believe this was the case here,as well.
bryant.coleman
legendary
Activity: 3766
Merit: 1217
Re: When $1 was exchanged for 1,300 bitcoins, Why was this done at the time?
December 16, 2013, 03:11:10 AM
#14
Quote from: medicine on December 16, 2013, 02:59:44 AM
Bitcoins didn't exist in February 2009.

No. It did. The first coin was mined sometime in January 2009.
medicine
hero member
Activity: 697
Merit: 501
Re: When $1 was exchanged for 1,300 bitcoins, Why was this done at the time?
December 16, 2013, 02:59:44 AM
#13
Quote from: jongameson on December 15, 2013, 05:49:26 PM
I went to Ebay to look for bitcoinz back in February 2009 and found some guy selling like 6000 BTC for $360, with a reserve or something.  Bid it up to $450 and still reserve not met, so gave up.  Ebay is a big scam anyway
Bitcoins didn't exist in February 2009.
Soros Shorts
donator
Activity: 1617
Merit: 1012
Re: When $1 was exchanged for 1,300 bitcoins, Why was this done at the time?
December 15, 2013, 11:15:26 PM
#12
Quote from: matriculator on December 15, 2013, 07:54:49 PM
Aren't bitcoins the main currency in deepweb market places? It's probably so they could buy things with more anonymity on deepweb market places.
Silk Road wasn't around yet when BTC was at that price. Besides, what can you buy for $1?
EvilPanda
hero member
Activity: 658
Merit: 500
Small Red and Bad
Re: When $1 was exchanged for 1,300 bitcoins, Why was this done at the time?
December 15, 2013, 09:28:58 PM
#11
Sometimes you buy a key chain, or a sticker, or some other useless thing for fun. I bought a USB miner with no hope for ROI. So many things just waiting for you to try out and life is too short  Roll Eyes
adamstgBit
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
Re: When $1 was exchanged for 1,300 bitcoins, Why was this done at the time?
December 15, 2013, 09:07:10 PM
#10
i bought my first bitcoin because i like the idea, and thought it was cool.

I spent 25$

i lol'd

and then i was like  Shocked

and then  Shocked Shocked Shocked Shocked Shocked Shocked

and then it crashed and i bought more!  Grin
mb300sd
legendary
Activity: 1260
Merit: 1000
Drunk Posts
Re: When $1 was exchanged for 1,300 bitcoins, Why was this done at the time?
December 15, 2013, 08:58:21 PM
#9
I'd buy something for $1 just because I thought it was cool.. even if completely worthless. I'm sure many others would too.
Cryptolator
hero member
Activity: 508
Merit: 500
Re: When $1 was exchanged for 1,300 bitcoins, Why was this done at the time?
December 15, 2013, 08:45:41 PM
#8
I don't even understand the question, am I the only one ?
matriculator
newbie
Activity: 56
Merit: 0
Re: When $1 was exchanged for 1,300 bitcoins, Why was this done at the time?
December 15, 2013, 07:54:49 PM
#7
Aren't bitcoins the main currency in deepweb market places? It's probably so they could buy things with more anonymity on deepweb market places.
jongameson
member
Activity: 84
Merit: 10
Re: When $1 was exchanged for 1,300 bitcoins, Why was this done at the time?
December 15, 2013, 05:49:26 PM
#6
I went to Ebay to look for bitcoinz back in February 2009 and found some guy selling like 6000 BTC for $360, with a reserve or something.  Bid it up to $450 and still reserve not met, so gave up.  Ebay is a big scam anyway
Gabi
legendary
Activity: 1148
Merit: 1008
If you want to walk on water, get out of the boat
Re: When $1 was exchanged for 1,300 bitcoins, Why was this done at the time?
December 15, 2013, 09:05:43 AM
#5
Quote from: bryant.coleman on December 15, 2013, 08:59:59 AM
Back then, Paypal and CC were accepted for buying the coins. I think Paypal banned BTC sites sometime in 2011.
Even if they don't ban it, using paypal or CC to buy coins means being scammed by chargeback scammers. That is the main reason why today no one sell coins for paypal or CC
bryant.coleman
legendary
Activity: 3766
Merit: 1217
Re: When $1 was exchanged for 1,300 bitcoins, Why was this done at the time?
December 15, 2013, 08:59:59 AM
#4
Back then, Paypal and CC were accepted for buying the coins. I think Paypal banned BTC sites sometime in 2011.
coastermonger
sr. member
Activity: 367
Merit: 250
Find me at Bitrated
Re: When $1 was exchanged for 1,300 bitcoins, Why was this done at the time?
December 15, 2013, 08:55:32 AM
#3
You had to start somewhere, and this was essentially the "cost" of being bothered to set up the client and run the miner on your CPU to find 50 BTC blocks at the time.

Now, ask yourself what it will be like when a $5,000 miner can net you 0.0001 BTC per day.
cfrm
full member
Activity: 171
Merit: 100
Re: When $1 was exchanged for 1,300 bitcoins, Why was this done at the time?
December 15, 2013, 07:48:18 AM
#2
Same reason people buy it today. Because they believe in the system / hope they can make a quick profit.
internetguru
member
Activity: 86
Merit: 10
Re: When $1 was exchanged for 1,300 bitcoins, Why was this done at the time?
December 15, 2013, 01:56:41 AM
#1
Why did someone buy bitcoins for that much?  What did they do with it?  Thought it was cool?
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