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solareclipse64236 (OP)
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July 16, 2012, 03:37:54 AM
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Why am I reading on the news that BTC sold for $30-70 USD per coin sometime in 2011?
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Every time a block is mined, a certain amount of BTC (called the subsidy) is created out of thin air and given to the miner. The subsidy halves every four years and will reach 0 in about 130 years.
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ColdHardMetal
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July 16, 2012, 03:40:32 AM
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Quote from: solareclipse64236 on July 16, 2012, 03:37:54 AM
Why am I reading on the news that BTC sold for $30-70 USD per coin sometime in 2011?

Because it's true. The 30+ish part anyway. Maybe 32ish at the absolute peak. I could be misremembering the specifics, but definitely over 30. Never anywhere close to 70, or even 40 for that matter.
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mccorvic
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July 16, 2012, 03:41:14 AM
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Because it did!

I remember that day well! I woke up, took a shower, checked Mt. Gox and nearly pooped myself when I saw that it was at $32 (not $70 though)!
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July 16, 2012, 03:52:29 AM
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http://bitcoincharts.com/charts/mtgoxUSD#tgSzm1g10zm2g25zvzl
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