What was the price value of bitcoin?

[Zerotrace]

Nowadays we all know that when a new coin is launched, it has an initial value, whether it is listed on an exchange or before.

But was this the case with Bitcoin? Bitcoin's starting value was 0. Maybe how did it create a value through the first trading? I know about the pizza 10k btc is that the first trade with bitcoin? And at this time, did the price of bitcoin introduced, like 0.06$?
I know that the matter is not that important, but I have curiosity while working on a purpose, so I tried to find out here.

[LoyceV]

Nowadays we all know that when a new coin is launched, it has an initial value

That's nonsense.

But was this the case with Bitcoin? Bitcoin's starting value was 0. Maybe how did it create a value through the first trading?

Supply and demand. It's the same for every other thing being sold: a seller and buyer agree to a price.

[d5000]

According to Reddit, the first trade was in October 2009, where somebody bought 5050 Bitcoin via PayPal for $5.02:

https://www.reddit.com/r/CryptoCurrency/comments/16kzhvm/til_the_firstever_bitcointofiat_sale_5050_btc_for/

This means, the first recorded price has been approximately 0.001 USD.  There were already 1.28 million BTC mined at that time, so the initial market cap was around 1300$.

PS: That was more than six months before Laszlo's famous pizza purchase. The pizza purchase would have been for $0.004. This means we had already a small bull market in 2009/10 of 300% price increase

[Zoomic]

Unlike the newly launched coins of today, Bitcoin didn't start with any fixed price.

As the first crypto asset, it had almost no value since there was no one using it for anything.

It was when few persons began to trade it fir something that it began to have a value tag.

Laszlo's famous 10k BTC for two John Papa's pizzas was the first time Bitcoin was used in a commercial transaction, some experts do claim that it was the worth of those two pizzas in local dollar rates was what was used to calculate Bitcoin's first price value.

[decodx]

Nowadays we all know that when a new coin is launched, it has an initial value, whether it is listed on an exchange or before.

Are you talking about ICOs? This is not the case for ALL newly launched coins.

But was this the case with Bitcoin? Bitcoin's starting value was 0. Maybe how did it create a value through the first trading? I know about the pizza 10k btc is that the first trade with bitcoin?

No, that wasn't the first Bitcoin trade. It was the first documented time Bitcoin was used as a medium of exchange for a real-world physical good. But, as far as I know, New Liberty Standard - the first Bitcoin exchange - was launched back in 2009.

And at this time, did the price of bitcoin introduced, like 0.06$?

How did you come at that number? 10,000 BTC for two Papa John's pizzas (worth about $40 at the time). Do the math.

[Zerotrace]

Nowadays we all know that when a new coin is launched, it has an initial value, whether it is listed on an exchange or before.

Are you talking about ICOs? This is not the case for ALL newly launched coins.

But was this the case with Bitcoin? Bitcoin's starting value was 0. Maybe how did it create a value through the first trading? I know about the pizza 10k btc is that the first trade with bitcoin?

No, that wasn't the first Bitcoin trade. It was the first documented time Bitcoin was used as a medium of exchange for a real-world physical good. But, as far as I know, New Liberty Standard - the first Bitcoin exchange - was launched back in 2009.

And at this time, did the price of bitcoin introduced, like 0.06$?

How did you come at that number? 10,000 BTC for two Papa John's pizzas (worth about $40 at the time). Do the math.

No I am not talking about the ICOs, I was talking in common coin those are coming in the market.

-----------------------------------------------------------------------------------
It was misunderstanding I forgot to mention "for example", instead I used "like", it's not about he math bro.

[Ambatman]

Bitcoin's starting value was 0. Maybe how did it create a value through the first trading?

The estimated mining  cost was used in setting  the price then
And the first seller was a user here Sirius to New Liberty Standard
 

Supply and demand. It's the same for every other thing being sold: a seller and buyer agree to a price.

I will also be sharing this that was stated by DdmrDdmr some years ago

As said, offer and demand did not set the price back then (initially), but rather the above formula that ensured covering costs. The variation in price from one day to another is, I figure, due to the change in the "bitcoins generated by my computer(*) over the past 30 days" part, which will change as the 30 day window slides forward another day. Later on, price calculus was modified to include moving averages and the cost of data bandwidth.

[Alphakilo]

Unlike the newly launched coins of today, Bitcoin didn't start with any fixed price.

As the first crypto asset, it had almost no value since there was no one using it for anything.

It was when few persons began to trade it fir something that it began to have a value tag.

Laszlo's famous 10k BTC for two John Papa's pizzas was the first time Bitcoin was used in a commercial transaction, some experts do claim that it was the worth of those two pizzas in local dollar rates was what was used to calculate Bitcoin's first price value.

Let's not blame the newbie for bringing up a post like this that has a history of supply and demand written all over it and is available online from various sources, yet such a question is brought up without doing personal research.

The famous 'pizza day celebration' is one to begin with when talking about how the price of Bitcoin rose to become valuable and there's the first exchange of which was Mt.Goz who launched their first order book in July 2010.
There's more examples, but more research can be done to get the right and exact information you need OP.

[I_Anime]

According to Reddit, the first trade was in October 2009, where somebody bought 5050 Bitcoin via PayPal for $5.02:

https://www.reddit.com/r/CryptoCurrency/comments/16kzhvm/til_the_firstever_bitcointofiat_sale_5050_btc_for/

This means, the first recorded price has been approximately 0.001 USD.  There were already 1.28 million BTC mined at that time, so the initial market cap was around 1300$.

PS: That was more than six months before Laszlo's famous pizza purchase. The pizza purchase would have been for $0.004. This means we had already a small bull market in 2009/10 of 300% price increase

That’s why I usually tell folks that get too excited due to the bull market , that Bitcoin has been bullish all this while from the year 2009 till date . Though during those times there are usually some serious up and down movement , I went through the Reddit post scroll down to the comment section I saw some folks commenting things like “I wish someone can take me back to the year 2009”  to buy bitcoin cheap .

Funny how ten years from now many will still make that same statement, even those that saw bitcoin at the price range of $1000 are still regretting not taken action then , thinking bitcoins was at its peak already then like how many still thinks now . Is never too late to start now , Bitcoin may or may not outperform its past but just know that we are not at the peak yet.

[JimaGod]

Nowadays we all know that when a new coin is launched, it has an initial value, whether it is listed on an exchange or before.

But was this the case with Bitcoin? Bitcoin's starting value was 0. Maybe how did it create a value through the first trading? I know about the pizza 10k btc is that the first trade with bitcoin? And at this time, did the price of bitcoin introduced, like 0.06$?
I know that the matter is not that important, but I have curiosity while working on a purpose, so I tried to find out here.

Bitcoin have been in existence in the past decades and we can tell with our hand on our chest that Bitcoin dint have a launch price yet or even initial coin offerings which means it got no value back then, this was really one of the good time to know about the investment and key dip into it because we might have gotten a good start and also a solid foundation in Bitcoin but it all changed since we're unable to meet up and ended up ignoring the whole thing.

Today Bitcoin price have skyrocket for the moon, because investors started to buy and trade, so as the price gradually increased. Today, Bitcoin is fixed and the adoption came after the asked price was initiated.

[Bitcoin_Arena]

How about you start with zero, just like you mentioned in the post?

If you are looking for any figure above zero, then you are not going to get the exact value or at least an accurate one. Back in the day some people would trade Bitcoin peer-to-peer style. I would just say it doesn't even matter, and I don't even see the point of you trying to compare Bitcoin to launched coins that have devs behind them who are just looking to become millionaires from their coin projects.

[Dizciple]

Nowadays we all know that when a new coin is launched, it has an initial value, whether it is listed on an exchange or before.

But was this the case with Bitcoin? Bitcoin's starting value was 0. Maybe how did it create a value through the first trading? I know about the pizza 10k btc is that the first trade with bitcoin? And at this time, did the price of bitcoin introduced, like 0.06$?
I know that the matter is not that important, but I have curiosity while working on a purpose, so I tried to find out here.

After searching I saw different prices then I became confused as you're but I notice most of the prices were below 1 cent of a $ which should be less then ¢0?01. That's quite a small value in comparison to current price., you can also look at the price recorded when Bitcoin was listed on the first public exchange for buying and selling because using p2p trading prices won't be accurate as any price can be negotiable and then Bitcoin exchange hands. There's the pizza event and that price can also be used since it's considered the first public transactions using Bitcoins but it won't be accurate since not everybody was buying and selling at that price after the deal was completed. I can't help it but become jealous after seeing how much Bitcoin was being sold for many years ago. It was so cheaper than now and it feels like I'm over paying.

[pooya87]

Zero.

Your mistake is comparing bitcoin (an actual peer-to-peer digital cash) with altcoins (pump and dumps created for profiting).
The first thing altcoins do is get their coin listed somewhere and attach a price tag to it because the main objective they had for creating that altcoin was for it to be traded for profit making. But that was never bitcoin's objective. Satoshi didn't invent Bitcoin for people to trade it on some exchange or swap it for fiat and make profit from its fluctuations. It was invented to serve as a payment system, so it never needed that "price tag" the way altcoins do.

Besides, there was no exchanges back in 2008-2009 for Satoshi to list bitcoin on and announce its "trading" open. It was an experiment to see if a global digital peer-to-peer money can exist. Slowly as the adoption grew, bitcoin gained a natural value (that continues growing to this day) then it got a price tag.

[SPIDERMAN008]

I don't think Satoshi actually identified a price at the beginning. Over time, people may have gradually gotten an idea about Bitcoin and decided to use it as a medium of exchange. Now they are considering it as a valuable asset as well as a transaction, which is why its price is so high now.

And when Laszlo bought  pizza with 10,000 BTC , I have no idea whether the price of Bitcoin was predetermined, but I think the pizza provider and Laszlo created an exchange where the pizza provider agreed to give two pizza for 10,000 BTC. And their transaction with that Bitcoin proved that Bitcoin would be accepted as a valuable asset in the future.

And because of that pizza and Bitcoin transaction, maybe bought the first tangible thing with Bitcoin.

[Darker45]

I can still remember during the height of ICOs, tokens have assumed price value in the tokenomics part of their whitepaper. They had pre-selling prices, public sale prices, and other prices depending on whether you're buying early or late. They had soft caps and maximum caps.

Bitcoin was different because it was designed to be money itself. It wasn't designed to represent a certain fiat equivalent. It wasn't minted to be sold for fiat, to provide funding to a startup, to enrich developers, and so on.

There was 0 value at the start precisely because the market had the absolute freedom to assign value to it, or even whether to accept it or not.

Laszlo's pizza purchase wasn't exactly "the first trade with Bitcoin" because, as pointed out by d5000, there were already Bitcoin trades with fiat earlier. But it was widely embraced as the first commercial Bitcoin use, the first time that a physical good was bought with Bitcoin as money. But, to clarify further, the pizzas weren't bought with Bitcoin from Papa John's. Somebody else bought them with fiat and have them delivered to Laszlo for Bitcoin.

[Outhue]

Nowadays we all know that when a new coin is launched, it has an initial value, whether it is listed on an exchange or before.

Are you talking about ICOs? This is not the case for ALL newly launched coins.

But was this the case with Bitcoin? Bitcoin's starting value was 0. Maybe how did it create a value through the first trading? I know about the pizza 10k btc is that the first trade with bitcoin?

No, that wasn't the first Bitcoin trade. It was the first documented time Bitcoin was used as a medium of exchange for a real-world physical good. But, as far as I know, New Liberty Standard - the first Bitcoin exchange - was launched back in 2009.

And at this time, did the price of bitcoin introduced, like 0.06$?

How did you come at that number? 10,000 BTC for two Papa John's pizzas (worth about $40 at the time). Do the math.

ICO or not, every coins have their starting price anyways, Bitcoin isn't an ICO coin but it started under a cent, honestly non of these matters,.it's always about what the coin can do and how serious the teams really are, all Bitcoin glory goes to the maker himself Satoshi Nakamoto, if his vision for Bitcoin wasn't clearly crafted most of us won't be here today.

Zero.

Besides, there was no exchanges back in 2008-2009 for Satoshi to list bitcoin on and announce its "trading" open. It was an experiment to see if a global digital peer-to-peer money can exist. Slowly as the adoption grew, bitcoin gained a natural value (that continues growing to this day) then it got a price tag.

Bitcoin Network went live on January 2009 and on the July of 2010 Mt.GoX became the first crypto exchange, it took a year and seven months before a crypto exchange was launched after Bitcoin was Live, what an Era.

[SilverCryptoBullet]

According to Reddit, the first trade was in October 2009, where somebody bought 5050 Bitcoin via PayPal for $5.02:

https://www.reddit.com/r/CryptoCurrency/comments/16kzhvm/til_the_firstever_bitcointofiat_sale_5050_btc_for/

This means, the first recorded price has been approximately 0.001 USD.  There were already 1.28 million BTC mined at that time, so the initial market cap was around 1300$.

It's a trade on New Liberty Standard exchange.
https://web.archive.org/web/20100428024753/http://newlibertystandard.wetpaint.com/page/2009+Exchange+Rate

It is mentioned in some other sources.
The Very Early Bitcoin Exchanges of 2009 to 2011.

The very first Bitcoin / USD exchange rate published on the New Liberty Standard site on 5 on October 2009 was USD $1.00 = 1,309.03 BTC, which equated to an incredible $0.00764 per Bitcoin, or in other words 7.6 US cents per 100 Bitcoins.

https://bitcoin.zorinaq.com/price/

On 2009-10-05 the market price of Bitcoin is first established at $0.000764/BTC by New Liberty Standard, the first Bitcoin exchange ($1.00 buys 1309.03 BTC.) The exchange rate history is available at two archived pages: first, second. Their last known exchange rate is $0.005472/BTC on 2010-03-02.

It's written in this Bitcoin history book at page 58.
https://drive.google.com/file/d/1M8z4M4oV4WC_aIGWkn-tO_T7Nkllj47C/view?usp=sharing

[New Judgement]

Satoshi didn't invent Bitcoin for people to trade it on some exchange or swap it for fiat and make profit from its fluctuations. It was invented to serve as a payment system, so it never needed that "price tag" the way altcoins do.

There has to be a price on it, even though it might not be significant enough but I believe it can’t be zero. Even though the original idea of investing it was for payments purposes, at least one has to know the worth of what they are paying using bitcoin, and how many bitcoins will make up such an amount for what they bought.

You don’t expect a buyer of a product back then to send all their bitcoins at once to the seller because they are making payment via bitcoin. There has to be a price unit in bitcoin back then to know how to arrive at the price to pay via bitcoin when you buy something and want to make payment or you want to send to a friend, you have to know the value in fiat.

If the person selling the product, has told you the amount they are selling their items in fiat and you are to pay with bitcoin, there should be a conversion rate to determine how many bitcoin to be sent as payment, so both parties won’t be short changed. This why I believe that there was definitely a price at the beginning.

[Muskanrani]

Nowadays we all know that when a new coin is launched, it has an initial value, whether it is listed on an exchange or before.

But was this the case with Bitcoin? Bitcoin's starting value was 0. Maybe how did it create a value through the first trading? I know about the pizza 10k btc is that the first trade with bitcoin? And at this time, did the price of bitcoin introduced, like 0.06$?
I know that the matter is not that important, but I have curiosity while working on a purpose, so I tried to find out here.

You have done this very good to make this thread and ask this question generally the people who know about Bitcoin some how they have definately this question in their minds and this was also in my mind but know i have many information about it the answers of people about this thread is very informative and i gain very much knowledge from all these answers .

[LoyceV]

Supply and demand.

I will also be sharing this that was stated by DdmrDdmr some years ago

As said, offer and demand did not set the price back then (initially), but rather the above formula that ensured covering costs.

That's just supply and demand with extra steps The mining cost (based on electricity consumption) went up because the difficulty went up, which in turn was caused by an increase in how many people were mining Bitcoin. It's similar to any other field of production, where the number of people producing a certain good depends on the price of that good until a new equilibrium is reached.