1 Bitcoin was once valued at around $0.00655

[Oshio-man]

We need to remember that Bitcoin's journey was not at $0.00655, but rather the price of Bitcoin started from zero. Although it is basically starting from zero, its uniqueness has basically put it in such a position that its price will seem high to us in the present, but if we look at the past, it will seem low.

Many investors will never forget when the price of bitcoin was below this price $0.00655 and many wealthy men and women have the funds to purchase bitcoin then but they ignored because they never think bitcoin will cross to this current price in the market, One thing I came to understand about bitcoin is that who will embrace bitcoin as an investment will take bitcoin as an investment because they know what they are going to earn in the future, there are some investors who don't know that the price of bitcoin started from this zero level before it cross $100k last year that made some investors to turned to bitcoin investment, bitcoin was valued and is still value with those that understand bitcoin in the decentralized way.

[Z_MBFM]

Perhaps some of you don’t know that Bitcoin was once that cheap per coin. And if you look up Bitcoin’s all-time low on Coinmarketcap you’ll see it was around $0.04 (Source). But Bitcoin’s price has actually been lower than that. In an old thread you can see that an early user once auctioned off 10k Bitcoin with an opening bid of $50. And if at that time someone had bid around $51 or even $60 then they would have gotten Bitcoin at a much lower price. But the auction ended without anyone placing a bid. I think that at the time many people still didn’t believe Bitcoin would become so valuable. And perhaps that’s how people feel who think Bitcoin is already too expensive. But I personally would never consider Bitcoin too expensive given that its performance so far has far exceeded the predictions of early adopters.

(Source)

I’d like to know, do you still think Bitcoin is too expensive right now considering that many people were willing to bid lower in that old thread? And don't you believe Bitcoin will exceed $1 million? Share your thoughts as well.

Now, as Bitcoin can be exchanged and bought and sold very easily, at that time there was no easy way to buy and sell Bitcoin, which is why such a bidding system was used. Again, many people used to mine Bitcoin for free as a hobby and were happy to sell them because such a digital coin has a value that can be converted to money. It was very exciting to think about it at that time. If they could have thought about the current state of Bitcoin, they would never have sold thousands of Bitcoins but would have held on to them. Another thing is that if they had not sold Bitcoins in such a way, then maybe the issue of Bitcoin would not have been promoted and no one would have thought about the exchange value of Bitcoin. At that time, those who mined Bitcoin were really talented and lucky because they were able to stay with Bitcoin at the beginning of Bitcoin.

[MinMan]

But it seems on that time is no one will expect that the bitcoin price surge on its current price right now so people still ignored bitcoin and imagine its 50$ that time it was huge for others but imagine right now if someone will sell their bitcoin at that price for sure most of the people will get hurry and flood your inbox just to give you an offer but of course no one is dumb to do that thing right now. Its just like a demand for bitcoin so this is the factor too why many people wanted to make an investment with the alts because of this kind of happened with Bitcoin.

Those who invest in new altcoins with the mindset that one of those altcoins might become the next Bitcoin are greedy, and they often suffer because of their greed because you can't expect a cryptocurrency created by people to get rich to make you rich instead, it barely happens. Bitcoin wasn't created with the aim to make its creators rich, it was created with a purpose, to provide the world with a decentralized peer-to-peer payment method that can become an alternative to currently existing payment systems which are completely centralized.

Some people believe that if an altcoin has a limited supply like Bitcoin, it can also reach a very high price like Bitcoin as well, but they don't understand that the reason why Bitcoin reached where it is today was because of its demand, and that demand is driven by trust which is because of its truly decentralized nature. No one would trust an altcoin to keep millions of dollars in it because they know these coins are not as trustworthy as Bitcoin, an altcoin project can always collapse with no hope for recovery, LUNA is a prime example of this.

[KingsDen]

If we look at Bitcoin’s current price and compare it to its price in its early days, it’s hard to believe, no one would have guessed that Bitcoin, which was once so cheap, is now worth so much. So there’s no such thing as 'expensive' when looking at Bitcoin’s history, since its long-term trend shows a very strong upward trajectory, and in the coming years, its price may be even higher than it is today. This isn't just about the short term, but rather the long-term outlook, only then will you not consider the price to be expensive at the moment.

The bitcoin price has been the most mysterious events that has happened in this generation. It is normal to say that bitcoin was just worthless. Yes, it was worthless and now it is worth alot. Just from worthlessness to value.
But there is one significant thing about bitcoin. We could just say this is the last lap for bitcoin or it is going to zero but surprisingly it will give us another green. Don't ever underestimate bitcoin and don't see it less. If you see it less it will prove you wrong.

[Chinesebaby]

I do not think that you have anything to lose now because you were never aware about Bitcoin when the price was as little as cents. I know that in the next 10 years from now when the price of Bitcoin might have reach 500k per unit, there will be people that will also  regret not buying Bitcoin when the price was below 100k. Regretting about not buying should not be seen as reget because their is opportunity now for people to hold it but because of fear or insufficient money with them, they will rather use the money to do something else.

Here will always be a group of procrastinators who will always regret not buying Bitcoin when they had the opportunity at every moment, and it's sad that because the same way you could afford buying huge number of Bitcoin back then with a small amount of money, it's still very possible to buy a few Satoshi today with small amounts of money. But it's just sad that most people always look at the price value of a whole Bitcoin today ana get scared of investing in it, while forgetting the fact that it can be investigated in fraction of it. So to me, the excuse of insufficient fund is not an excuse enough for people not to invest even if a dollar in Bitcoin. There are many crypto exchanges that allow you to invest $2 to $5 in Bitcoin.

[Furious 7]

I’d like to know, do you still think Bitcoin is too expensive right now considering that many people were willing to bid lower in that old thread? And don't you believe Bitcoin will exceed $1 million? Share your thoughts as well.

Even in the same thread I read that OP also regretted a little but indeed could not do much and only laughed 2 years later but indeed this is actually a pretty good lesson that what we consider expensive for now is not impossible it will look cheap in the future especially for bitcoin which is indeed an increase that is always felt for every year.

I sold my bitcoin a few years ago even though there was a slight sense of tightness but it was irreversible because in the end it was just a lesson so after that I only focused on making purchases while I could afford to buy it and until now I still have no intention of selling because I realize that my goal is not today especially when now bitcoin is experiencing a discount again then of course this is not the right thing for me to sell because it's time for me to increase the load.

[terrific]

I believe someday that we'll all celebrate that milestone for Bitcoin when it reaches $1M.
But the problem is that how many holders are going to sell when it's on its way there. Because if it reaches $500k, there will be a lot of sellers probably.

If Bitcoin reaches $500k, I am sure that there will be lots of buyers already, so I think we don't have to worry on those who wanted to take profit on that day Bitcoin breaches $500k.

Well, we have seen how the Bitcoin price has surged and how Bitcoin adoption has progressed over the years.  whether Bitcoin will reach $1m  still relies on how the world embraces Bitcoin in these next decades.  I am optimistic that Bitcoin will reach $1m one day so I think for those who are planning to accumulate Bitcoin, it is not too late, and we can still profit from our Bitcoin investment after several halvings.

You are right, there will be a lot of investors who will try to catch up. Because that is what usually happens.
When the price is surging, they're also making more investments because they want to ride the roller coaster and don't want to be left by it.
Let's all wait and see it altogether that the price of Bitcoin will reach $500k to $1M and even more. We have to look at how much the trillion market caps of other assets like the stocks and gold, Bitcoin will be on their levels soon.

[EFS]

Those were the different times. Back then nobody need to buy it because they could just mine and find block with their personal computer. No ASICS, no high end GPU's, just a regular PC with a regular CPU would do the trick. There wasn't coinmarketcap or other fancy sites.
It makes no sense to compare the conditions of that day with those of today. It's easy to talk about things after they've already happened. Many believers had faith about today's price but it's almost impossible to hold on to the coins after so many years when there are a lot of opportunities to sell and take profit.

[Hamza2424]

I’d like to know, do you still think Bitcoin is too expensive right now considering that many people were willing to bid lower in that old thread? And don't you believe Bitcoin will exceed $1 million? Share your thoughts as well.

I would buy Bitcoin for $100 in a heartbeat too haha

It was a golden time, and these days everyone uses that era as an example and for clickbait. I have seen many people selling courses and products claiming they will make you money, and they always bait users by saying "it is like buying Bitcoin in 2009." They mean you are getting it for almost no cost, so you should not miss the golden chance to buy their product or course.

People talk about Bitcoin as if the time has already passed, but I am waiting for the next 17 years. By then, the demand for Bitcoin will be so high that people will regret the time they wasted in 2026.

[Alphakilo]

I believe someday that we'll all celebrate that milestone for Bitcoin when it reaches $1M.
But the problem is that how many holders are going to sell when it's on its way there. Because if it reaches $500k, there will be a lot of sellers probably.

If Bitcoin reaches $500k, I am sure that there will be lots of buyers already, so I think we don't have to worry on those who wanted to take profit on that day Bitcoin breaches $500k.

Well, we have seen how the Bitcoin price has surged and how Bitcoin adoption has progressed over the years.  whether Bitcoin will reach $1m  still relies on how the world embraces Bitcoin in these next decades.  I am optimistic that Bitcoin will reach $1m one day so I think for those who are planning to accumulate Bitcoin, it is not too late, and we can still profit from our Bitcoin investment after several halvings.

You are right, there will be a lot of investors who will try to catch up. Because that is what usually happens.
When the price is surging, they're also making more investments because they want to ride the roller coaster and don't want to be left by it.
Let's all wait and see it altogether that the price of Bitcoin will reach $500k to $1M and even more. We have to look at how much the trillion market caps of other assets like the stocks and gold, Bitcoin will be on their levels soon.

Am seeing a time when for Bitcoin to reach the $1 million margin, it would have to go through change from being just a speculative asset to a much better role as primary global reserve currency, where banks hold it, users spend it majorly because their local fiat currency has become hyper inflated and the lightening network is majorly used for everyday transactions and business.
It's a long time from now though, but to join in your optimism, I think we should watch as it peaks to an ATH of between $100k to $400k between this year and the next, possibly.

[Lida93]

Perhaps some of you don’t know that Bitcoin was once that cheap per coin. And if you look up Bitcoin’s all-time low on Coinmarketcap you’ll see it was around $0.04 (Source). But Bitcoin’s price has actually been lower than that. In an old thread you can see that an early user once auctioned off 10k Bitcoin with an opening bid of $50. And if at that time someone had bid around $51 or even $60 then they would have gotten Bitcoin at a much lower price. But the auction ended without anyone placing a bid. I think that at the time many people still didn’t believe Bitcoin would become so valuable. And perhaps that’s how people feel who think Bitcoin is already too expensive. But I personally would never consider Bitcoin too expensive given that its performance so far has far exceeded the predictions of early adopters.

That time and this current time you're comparing with are two strongly distant different times, and what had made people not interested in buying the auctioned 10,000 BTC for $50 wasn't just that it was too expensive at that time as it's captured to be today by many, but that  people at that period didn't say a future value increase to this tremendous level where we have price today. Wait! Did I just exaggerate? C'mon, they didn't even see it making $5 value for a bitcoin.

[terrific]

You are right, there will be a lot of investors who will try to catch up. Because that is what usually happens.
When the price is surging, they're also making more investments because they want to ride the roller coaster and don't want to be left by it.
Let's all wait and see it altogether that the price of Bitcoin will reach $500k to $1M and even more. We have to look at how much the trillion market caps of other assets like the stocks and gold, Bitcoin will be on their levels soon.

Am seeing a time when for Bitcoin to reach the $1 million margin, it would have to go through change from being just a speculative asset to a much better role as primary global reserve currency, where banks hold it, users spend it majorly because their local fiat currency has become hyper inflated and the lightening network is majorly used for everyday transactions and business.
It's a long time from now though, but to join in your optimism, I think we should watch as it peaks to an ATH of between $100k to $400k between this year and the next, possibly.

The banks have already started to notice it and some took actions of having it. And with countries using it as a their national reserve.
You are right that it gets to play something new by then for that price when it comes close to $1M.
And to see through the other prices before it gets to $1M is going to be followed by our enthusiasm for $1M.
So, as you've said, that's what we have to wait and see before going there. It's okay to speculate to the possible ceiling in the next years although we have to go through with those numbers first.

[BADecker]

Note that in the beginning of 2009, people were giving away loads of Bitcoins through faucets. You can still find some that give away satoshi's... under the right circumstances.

It was a way to get things going.

[Rgram]

The lowest price of bitcoin that I had seen before online when I was researching about it was $0.003. I was a newbie at the time and I wanted to create a thread about it at the time.

Bitcoin is not expensive because anyone can buy just $50 worth of bitcoin and hold it. But the higher the amount bought, the higher the possibility of making more money from it.

Those were days that we were very much around, not in the cryptocurrency space obviously but, we were active in our world, doing our thing and not giving much attention to what really did matter while it evolved around us.
When you look at Bitcoin today and look back to what the price is, it’s easy to note that, this is something major and the fact that it’s still gaining value, it gives you the more reason why we out to take our chances and build a Bitcoin portfolio.

[akamit]

Bitcoin's growth has been massive over the years. Bitcoin exceeding $1 million in the future is very possible.

I don't remember when it was below one cent, but I do remember when it was below $200, and in a relative sense that's just about the same thing for me.

Didn't know about Bitcoin in 2009, that feels like ancient history almost. But $400, $500... that was recent enough that most of us had internet, had heard of Bitcoin, and still did nothing. That stings a lot more than missing something from 16-17 years ago.

And the mental torture thing is real lol. You start doing the math on what even $1000 at $400 would be worth now and you just have to close the tab and go touch grass.

Price history, the time I heard about bitcoin, Feb-2016...
https://www.statmuse.com/money/ask/monthly-bitcoin-prices-in-2016

[dzungmobile]

Didn't know about Bitcoin in 2009, that feels like ancient history almost. But $400, $500... that was recent enough that most of us had internet, had heard of Bitcoin, and still did nothing. That stings a lot more than missing something from 16-17 years ago.

And the mental torture thing is real lol. You start doing the math on what even $1000 at $400 would be worth now and you just have to close the tab and go touch grass.

Price history, the time I heard about bitcoin, Feb-2016...
https://www.statmuse.com/money/ask/monthly-bitcoin-prices-in-2016

I knew about Bitcoin many years before I actually bought it in 2018. Firstly I knew it from a newspaper or somewhere that it's possible to solve captcha and get payment in bitcoin. In many countries, back in about 13 or 14 years ago, it was able to work with "solving captcha" and get bitcoin but I just read, and ignored that opportunities.

Touching the grass, it's funny but the past gone, the present is here, the future not yet come, so I am living with the present and I am accumulating more bitcoins for the future.

[Crypto Library]

Many investors will never forget when the price of bitcoin was below this price $0.00655 and many wealthy men and women have the funds to purchase bitcoin then but they ignored because they never think bitcoin will cross to this current price in the market, One thing I came to understand about bitcoin is that who will embrace bitcoin as an investment will take bitcoin as an investment because they know what they are going to earn in the future, there are some investors who don't know that the price of bitcoin started from this zero level before it cross $100k last year that made some investors to turned to bitcoin investment, bitcoin was valued and is still value with those that understand bitcoin in the decentralized way.

In fact, it is not something to forget, especially for those who were originally mining Bitcoin at that time or had invested in Bitcoin.
I myself often regret it because I went back to mining Bitcoin in 2016 only to find that my graphics card warranty would expire. Otherwise, I would have tried to do a little research about Bitcoin mining at that time. And now, even if I wanted to, I wouldn't be able to make much money mining Bitcoin. And I'm not even talking about the initial investment.

However, I think that we should plan for the future instead of regretting past prices and missed investment opportunities. In this case, we should continue holding or investing in Bitcoin for the long term according to specific planning, which can at least keep us away from regretting in the future.

[blockman]

Those were the different times. Back then nobody need to buy it because they could just mine and find block with their personal computer. No ASICS, no high end GPU's, just a regular PC with a regular CPU would do the trick. There wasn't coinmarketcap or other fancy sites.
It makes no sense to compare the conditions of that day with those of today. It's easy to talk about things after they've already happened. Many believers had faith about today's price but it's almost impossible to hold on to the coins after so many years when there are a lot of opportunities to sell and take profit.

Should I've known Bitcoin too early, I would have mined it with an old computer. But I was young at that time and does other things with computer. And as that time was tough, few believers, few enthusiasts and no one knows what it will be the future of Bitcoin. And those who had held onto it, they're the ones who have firstly believed in it. Only few managed to survived for that long and held up to this point or maybe from the past bull runs where they've seen tremendous growth at that time. It's still a blessing that we're here and Bitcoin continues to move greater heights.

[Webetcoins]

Bitcoin is expensive considering the starting price and the price it is selling for today, the leverage we have is that it is divisible and people can buy a small fraction of it with the money they can afford. If Bitcoin was not divisible in its nature, mate, so many people in the 3rd world would not afford it, even many people in first or second world would not afford it except only the rich people. Comfortably, anyone can just buy any amount of Bitcoin with the money they have at hand and if the person wants to actually own 1 piece of Bitcoin, they can just set a flexible amount that they would be able to invest every month.

Since Bitcoin was able to reach $120k+, it's definitely going to reach $1m in the later future, that's what a real asset does and Bitcoin is that asset that has a better future.

That would be a stupid mistake to start with, and would have bene fixed early one. While it is a bigger issue today, even back in the day, the idea of having a currency with no division would be a short sighted mistake.

Not because you would not want to have something that is huge, sure the price going up is great, but not only because of that, we have changes, something that is 3.23 will not equal to anything. So if you are not dealing with that, even back when bitcoin was just 1 dollar, that would be 3.23 bitcoins, and you would need divisions.

[UchihaSarada]

That would be a stupid mistake to start with, and would have bene fixed early one. While it is a bigger issue today, even back in the day, the idea of having a currency with no division would be a short sighted mistake.

Not because you would not want to have something that is huge, sure the price going up is great, but not only because of that, we have changes, something that is 3.23 will not equal to anything. So if you are not dealing with that, even back when bitcoin was just 1 dollar, that would be 3.23 bitcoins, and you would need divisions.

bitcoins are fungible, not like Non-Fungible Tokens and there are many units for bitcoin.
[Did you know?] Bitcoin Table of Units
People don't have to buy each bitcoin and multipliers of 1 BTC, because they can buy bitcoin in smaller units like satoshi. With increasing purchasing power of satoshi, like shown in the Satoshi per dollar chart, if people can accumulate and hold satoshis with time, they will get good profit.
https://charts.bitbo.io/satoshi-per-dollar/

Wh is Bitcoin's supply limit set to 21 millions.

Although Satoshi compares the price of Bitcoin to the Euro in his email, some simple mathematics indicates he may have had a much grander vision for Bitcoin—better explaining why the 21 million maximum figure was chosen.

At the time of Bitcoin's creation, the entire world's money supply stood at approximately $21 trillion. This figure, known as the M1 money supply, is made up of the total value of all the physical money in the world, including cash, coins, travelers' checks, and more.

If Bitcoin were to grow to become the single world currency—replacing all those that the M1 figure is comprised of—then each BTC would be worth $1 million. Because there are 100 million satoshi in each Bitcoin, this would place the value of each satoshi at $0.01.

The fact that these numbers align so closely would be a remarkable coincidence, if it’s not intentional.

The alternative explanation
Although the M1 money supply replacement theory is perhaps the most plausible rationale for why Satoshi selected 21 million to be the cap for Bitcoin, there is another—somewhat simpler—possible explanation.

Looking at the parameters used to control Bitcoin's supply, it becomes clear that the 21 million BTC figure allows the network to ensure that blocks are mined in a regular timeframe (10 minutes). It also ensures that the amount of Bitcoin paid out to miners as block rewards decreases over time, as the maximum supply approaches its limit. As it turns out, the parameters Satoshi set for this inevitably lead to the production of a maximum of 21 million BTC.