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Author Topic: Historical Price Data for 2009  (Read 5414 times)
usmanshahid
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August 29, 2012, 07:53:03 AM
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I am trying to gather all the bitcoin data I can in order to run various statistical analyses on it but I cannot find ANY data on 2009. From my searches it appears the first kept price data came on 7/17/2010 coinciding with the first bitcoin exchanges.

Starting the data from 7/17/2010 (nearly 510 days into Bitcoin) puts me at a severe handicap for what I can possibly extrapolate. For example; on 7/17/2010 BitCoin was already a $199,440 market. Thats pretty significant. Does anyone know if there is any data online starting from January 3, 2009? Specifically I am looking for price and volume traded.

Surely there must have been exchanges (informal or not) from the onset of Bitcoin? What were bitcoins used for in the very beginning?

your help would be appreciated
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Stephen Gornick
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August 29, 2012, 04:10:33 PM
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Surely there must have been exchanges (informal or not) from the onset of Bitcoin? What were bitcoins used for in the very beginning?

There really was no "market" before 2010.  There were a couple trades between miners perhaps.

BitcoinMarket.com opened on Feb 6, 2010.  There is no price history for that anywhere as far as I know.

 - http://en.bitcoin.it/wiki/History

The first widely communicated transaction was Laszlo's pizza, May 2010:

 - http://www.bitcoinmoney.com/post/3109720916
 - http://bitcointalk.org/index.php?topic=137.0

That transaction appears to have been an attempt to discover price.  An offer was made (10,000 bitcoins for what was probably a $25 USD purchase), and there were no takers for a couple days.  Just a month later, the exchange rate had rocketed more than ten times higher than what was calculated for that deal.
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August 29, 2012, 04:14:58 PM
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I am trying to gather all the bitcoin data I can in order to run various statistical analyses on it but I cannot find ANY data on 2009. From my searches it appears the first kept price data came on 7/17/2010 coinciding with the first bitcoin exchanges.

Starting the data from 7/17/2010 (nearly 510 days into Bitcoin) puts me at a severe handicap for what I can possibly extrapolate. For example; on 7/17/2010 BitCoin was already a $199,440 market. Thats pretty significant. Does anyone know if there is any data online starting from January 3, 2009? Specifically I am looking for price and volume traded.

Surely there must have been exchanges (informal or not) from the onset of Bitcoin? What were bitcoins used for in the very beginning?

your help would be appreciated

No, in the very beggining, it was just for fun, testing the protocol, there was simply no value. First coins have gone to Satoshi
Then people came, it was also more of a fun experimental thing:

First came the pizza
May 22 2010:  laszlo first to buy pizza with Bitcoins, paying 10,000 BTC for ~$25 worth of pizza
Then the Alpaca Socks
etc. Tongue

https://en.bitcoin.it/wiki/History

EDIT: Took some time, didn't saw the above so my response has some repeated info
theymos
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August 29, 2012, 06:18:32 PM
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NewLibertyStandard was the most visible exchanger at the time.

http://newlibertystandard.wetpaint.com/page/2009+Exchange+Rate

His pricing methodology will seem very strange nowadays... At the time, I performed similar calculations and thought he was charging too much.

1NXYoJ5xU91Jp83XfVMHwwTUyZFK64BoAD
usmanshahid
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August 29, 2012, 06:28:24 PM
 #5

Surely there must have been exchanges (informal or not) from the onset of Bitcoin? What were bitcoins used for in the very beginning?

There really was no "market" before 2010.  There were a couple trades between miners perhaps.

BitcoinMarket.com opened on Feb 6, 2010.  There is no price history for that anywhere as far as I know.

 - http://en.bitcoin.it/wiki/History

The first widely communicated transaction was Laszlo's pizza, May 2010:

 - http://www.bitcoinmoney.com/post/3109720916
 - http://bitcointalk.org/index.php?topic=137.0

That transaction appears to have been an attempt to discover price.  An offer was made (10,000 bitcoins for what was probably a $25 USD purchase), and there were no takers for a couple days.  Just a month later, the exchange rate had rocketed more than ten times higher than what was calculated for that deal.

I read about that on the BitCoin Wiki page, I didn't know how significant of a transaction that was. Thank you.




No, in the very beggining, it was just for fun, testing the protocol, there was simply no value. First coins have gone to Satoshi
Then people came, it was also more of a fun experimental thing:

First came the pizza
May 22 2010:  laszlo first to buy pizza with Bitcoins, paying 10,000 BTC for ~$25 worth of pizza
Then the Alpaca Socks
etc. Tongue

https://en.bitcoin.it/wiki/History

EDIT: Took some time, didn't saw the above so my response has some repeated info

Thanks alot; do you have any more information on the history of the first bitcoins that were used. You mention they were fun and experimental...before the pizza purchase were there any other purchases? How did Satoshi get people to dedicate time to mining (I know it was significantly easier in the beginning)


NewLibertyStandard was the most visible exchanger at the time.

http://newlibertystandard.wetpaint.com/page/2009+Exchange+Rate

His pricing methodology will seem very strange nowadays... At the time, I performed similar calculations and thought he was charging too much.

THIS is AWESOME information. I suppose this makes the most sense; value has to come from somewhere, I'll definitely add that in to see what the multiplier is now. Cost for electricity must still have some sort of statistical correlation to the price of bitcoin.

I don't mind making any of the findings I have available for anyone; I can't tell you how fascinating all this is. Its like an economists wet dream.

I'd be very interested in anyones input on the following subjects

  • Price data from 2009 that hasnt been mentioned
  • examples and recollections of things you or people you knew bought with bitcoins in the early days
  • incentives to mine for early miners
  • early bitcoiners any info
  • thoughts on the correlation between actual amount of money being spent (theres 10 mill bitcoins lets say only 5 mill are "active" and the rest are people holding) how does that affect the price in your opinions
  • Finally the top 100 bitcoin wallets; I found this information online for specific months; I'm 99% sure I'll be able to write a script to extrapolate it out of blockchain.info I'd be interested to know if anyone has it off hand though

Most of my questions are centered around the instrinic value of bitcoin and what that correlates too
Stephen Gornick
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August 31, 2012, 05:17:04 AM
 #6

Some 2010 data:

"Anyway, I'll bite for sake of the experiment. I bid $25.  [For 10,000 BTC]"
 - https://bitcointalk.org/index.php?topic=92.msg840#msg840

And more (theymos called "the bottom"):
 - http://bitcointalk.org/index.php?topic=137.msg94458#msg94458
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