When $1 was exchanged for 1,300 bitcoins, Why was this done at the time?

[internetguru]

Why did someone buy bitcoins for that much?  What did they do with it?  Thought it was cool?

[cfrm]

Same reason people buy it today. Because they believe in the system / hope they can make a quick profit.

[coastermonger]

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.

[bryant.coleman]

Back then, Paypal and CC were accepted for buying the coins. I think Paypal banned BTC sites sometime in 2011.

[Gabi]

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

[jongameson]

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

[matriculator]

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.

[Cryptolator]

I don't even understand the question, am I the only one ?

[mb300sd]

I'd buy something for $1 just because I thought it was cool.. even if completely worthless. I'm sure many others would too.

[adamstgBit]

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  

and then  

and then it crashed and i bought more!  

[EvilPanda]

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 

[Soros Shorts]

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?

[medicine]

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.

[bryant.coleman]

Bitcoins didn't exist in February 2009.

No. It did. The first coin was mined sometime in January 2009.

[cerleo]

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]

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.

[drgyoza]

Why did someone buy bitcoins for that much?  What did they do with it?  Thought it was cool?

Maybe someone thinking its better to buy at 1,300$ than at 1,301$

[EnderHf]

Well they had to start somewhere and I remember when ltc was like 50 cents per coin now look at it is like 30 dollars a pop.

[taltamir]

When $1 was exchanged for 1,300 bitcoins, Why was this done at the time?

Did you mean to say when someone bought 1 bitcoin with 1300$?

[Ruzka]

Definitely wish I would of bought 1300 bitcoins for a dollar lol.