I graduated college 2010… I still will never forget my college roommate Kevin… Junior year in our UCLA apartment dorm off campus studio apartment trolling Reddit and telling me about Bitcoin, and how we should buy a few in a few hundred bucks. I shrugged and said —
Eh, it is probably a scam.
Biggest mistake of my life. Even a few hundred bucks … what would it be worth today???
Lesson and morale of the story: Don’t mess up twice.
Bitcoin Pizza
10,000 Bitcoin times $45,000 USD a bitcoin —
450 Million Dollars USD — half a billion dollars!
Holy shit.
2010
In 2010, Bitcoin began to acquire a market value. The most notable event that year was the first known commercial transaction using Bitcoin, where 10,000 BTC were exchanged for two pizzas on May 22, 2010. This transaction pegged the value of each Bitcoin at a fraction of a cent.
Later in 2010, Bitcoin was first listed on a cryptocurrency exchange. In July, the exchange rate started at around $0.0008 to $0.08 per Bitcoin. This period marked the beginning of a more formal valuation of Bitcoin, with its price fluctuating based on market demand and trading.
The year 2010 was significant in Bitcoin’s history as it transitioned from a purely theoretical or experimental digital currency to one with tangible value, attracting more interest and participation from a broader audience.
In 2009, Bitcoin was in its infancy and had no established market value. The cryptocurrency was just a year old and primarily used among a small group of enthusiasts. It wasn’t until 2010 that Bitcoin began to acquire a monetary value, with the first known commercial transaction involving the currency being the famous “pizza purchase” where 10,000 bitcoins were used to buy two pizzas. This transaction valued each Bitcoin at a fraction of a cent. Prior to this, Bitcoin’s value was purely theoretical, as it was not being traded on any exchanges and had no set price in terms of other currencies.