How was first Bitcoin purchased and who provided the first liquidity for Bitcoin

[Sanni_w]

Good day Bitcointalk.
I have always been wondering of how the first Bitcoin was purchased and who provided liquidity for Bitcoin back then. As we all know that for a coin/token to exist in the market, they must have enough liquidity.
I am really confused 🤔 I am actually new to Bitcoin.
Thanks in advance 🙏

[Z-tight]

The first bitcoin was not purchased, it was mined by the creator Satoshi, it is called the genesis block of bitcoin, after the genesis block was mined, people and devs that supported Satoshi started mining BTC and giving out free BTC too, it was easy to do so then as CPU's could even mine bitcoin, not now that you need machines with a lot of computing power like GPU's. The block reward then too was ~50 BTC, so a lot of it was circulating, but it was not worth anything and people were not using it to make purchases.

10,000 BTC for two pizzas was the first time BTC was used to make a purchase, which was bought by Laszlo Hanyecz, it was easy to get/mine bitcoin then, so it was easy to spend 10,000 of it on two pizzas. But with time bitcoin became more popular, liquid and expensive to mine, and even though the block rewards has since halved to ~ 6.25 BTC (block rewards half after every 210,000 mined blocks) the hash rate is still pumping, even to an all time high, which shows many miners are still competing to validate blocks, making the network secure and decentralized.

pizza for bitcoins?

[cryptoaddictchie]

who provided liquidity for Bitcoin back then. As we all know that for a coin/token to exist in the market, they must have enough liquidity.
I am really confused 🤔 I am actually new to Bitcoin.
Thanks in advance 🙏

Welcome to bitcoin. Like what Z-tight mentioned it was a peer to peer transaction for the bitcoin to pizza by Lazio.

But Ive browse this website indicating the first possible liquidity for bitcoin at 1,309.03 BTC for $ 1.
(source: https://academy.bit2me.com/en/historia-exchanges-trading-bitcoin/) and began to bloom from there. But not really sure if there are other recorded reference, I mighty be wrong. The name of the exchange service was "The New Liberty Standard".

[Lucius]

@cryptoaddictchie, you are not wrong, because one of the co-founders of this forum known as Sirius (Martti Malmi) made the first official Bitcoin purchase through the New Liberty Standard platform which means that it took more than 10 months from the genesis block for someone to actually make a Bitcoin - > Fiat transaction. This does not mean that someone has not done it before through p2p, but this event is still officially recorded.

There are countless solutions to convert our cryptocurrencies to fiat money and vice versa, but at the beginning of time this was not so simple. The first transaction of this type is registered on October 12, 2009 where New Liberty Standard buys a total of 5.050 BTC from Sirius for an amount of $ 5.02 through PayPal.

This operation established that approximately 1.010 BTC were equivalent to $ 1, which is the first increase in value of the price of Bitcoin and a significant appreciation.

[cryptoaddictchie]

This does not mean that someone has not done it before through p2p, but this event is still officially recorded.

Actually it might have a chance too however everyone believe it is the Lazio deal on pizza. But its really crazy that bitcoin is only worth a $ before. It seems some early did a good fortune on it. Early bird really catches the worm.

[tranthidung]

Bitcoin Market is the first Bitcoin exchange and it was announced in the Bitcointalk forum in 2010.

The Early Days of Crypto Exchanges

• 15 Jan 2010: New exchange (Bitcoin Market). It's the first Bitcoin exchange was announced on the forum.
• 19 Jan 2010: NewLibertyStandard exchange announcement. Its exchange rate is weird. Archive
• 4 February 2010: Bitcoin FX exchange. The owner BitcoinFX is still active nowadays

[Aanuoluwatofunmi]

The first bitcoin was not purchased, it was mined by the creator Satoshi, it is called the genesis block of bitcoin, after the genesis block was mined, people and devs that supported Satoshi started mining BTC

Just in addition to this, bitcoin first transaction was made by Satoshi Nakamoto to Hal Finney of blessed memory, who happens to be the cypherpunk behind many successful digital technology innovation and developments and ever since then, bitcoin mining and purchase have been consistent as the distribution goes wide across the world.