The First Bitcoin to USD Transaction is 13 years old today.. Is This True?

[Fivestar4everMVP]

I found this post on Twitter about the first Bitcoin to USD Transaction being 13 years old today, the poster shared a screenshot showing the transaction hash and date the transaction happened which indeed was on 12th of October, 2009.
He also mentioned in the description that BTC5000 was sold for $5.00, but there was no way to verify this claim.




So i got a piece of paper and wrote down the transaction hash, and did a search myself and discovered that the transaction actually involved BTC5050 and they were worth $50 at the time of the transaction which is 13 years old today.



Other things I discovered from this transaction and relating to the Twitter post is that...
1. There is no way to verify or ascertain that this transaction was actually the first bitcoin to usd transaction.
2. Secondly, the BTC5050 didn't arrive in its address from one address, the BTC5050 bitcoins in total was sent from multiple address and each of the address only sent BTC50 bitcoins...
How did this turn out to be a single transaction of BTC5000 bitcoins worth $5 as claimed by the Twitter post?

Maybe our OGs in the house might want to look into this transaction and tell us if truly, it was the first bitcoin to usd transaction or not....
Here is the hash - https://blockchair.com/bitcoin/transaction/7dff938918f07619abd38e4510890396b1cef4fbeca154fb7aafba8843295ea2

My assumption is that this is one of those lies social media users share with their followers for likes, share/retweet and more followers.. I stand to be corrected though.

So what do you think?.... Let's discuss guys.

[1715397782]

1715397782

[1715397782]

1715397782

[1715397782]

1715397782

[1715397782]

1715397782

[DdmrDdmr]

It is the first commercial transaction on an Exchange, performed in this case on the NewLibertyStandard:

Found the first known bitcoin to USD transaction from my email backups. I sold 5,050 BTC for $5,02 on 2009-10-12. https://blockchain.info/tx/7dff938918f07619abd38e4510890396b1cef4fbeca154fb7aafba8843295ea2

See: https://twitter.com/marttimalmi/status/423455561703624704

Sold to NewLibertyStandard to help him get the world's first bitcoin trading service started. http://newlibertystandard.wikifoundry.com

See: https://twitter.com/marttimalmi/status/727827148837429249

In this post you can see some info on how the Exchange set the price back then, which was not based on offer and demand, but rather derived from production cost:

By "dividing $1.00 by the average amount of electricity required to run a computer with high CPU for a year, 1331.5 kWh, multiplied by the average residential cost of electricity in the United States for the previous year, $0.1136, divided by 12 months divided, by the number of bitcoins generated by my computer(*) over the past 30 days".

The Exchange managed the fiat part of the commercial TX back then through Paypal. The 50 BTC per origin address was because they came from mining rewards (the Exchange started selling its owner's mined BTCs. I figure the seller, sirius (martti malmi), did too).

[stompix]

2. Secondly, the BTC5050 didn't arrive in its address from one address, the BTC5050 bitcoins in total was sent from multiple address and each of the address only sent BTC50 bitcoins...
How did this turn out to be a single transaction of BTC5000 bitcoins worth $5 as claimed by the Twitter post?

On top of what DdmrDdmr already explained, those are fresh coinbase coins, look at their history, nobody was mining in pools at that time, and the coins they had were coins mined by themselves as block rewards, hence the clear sheet of 50BTC addresses, the user simply didn't care on consolidating all of them, not with 0 fees. For example 1NAauy83Upy9yYv5zjcjk4hwPRJWnzvX52 it is the same, those 800 coins are made out of 50BTC batches.
Since nobody sold a coin before, doesn't it make sense for nearly all 50BTC rewards to be intact?

[Fivestar4everMVP]

@DdmrDdmr
 thank you so much for sharing the information above, this is to say that the Twitter poster was right about this being the first bitcoin to usd transaction after all, my bad then 😅.

And concerning how bitcoin price was set back then, I think I've read about that somewhere some time in the past, anyways, thanks for sharing, I really appreciate it.

@stompix,
Thank you but forgive me, I am trying to understand what you explained, do you mean the BTC50 in those different addresses which made up the BTC5050 bitcoins actually belonged to one person/that is one address?

[hosseinimr93]

do you mean the BTC50 in those different addresses which made up the BTC5050 bitcoins actually belonged to one person/that is one address?

Since all those coins have been spent in a single transaction, they were probably owned by one person.
It's unlikely that the transaction in question has been signed by multiple people.

[decodx]

do you mean the BTC50 in those different addresses which made up the BTC5050 bitcoins actually belonged to one person/that is one address?

One person/wallet but multiple UTXOs (Unspent transaction outputs) from multiple addresses. You know you can generate an unlimited number of receiving addresses in a Bitcoin wallet, right?