> I would wager that most (90) of the bitcoin being traded now is old bitcoin that did not have the value that is current
What does that mean? You could say that about everything from real estate to gold to AMZN stock.
What does that mean? You could say that about everything from real estate to gold to AMZN stock.
But 10 years ago you could buy a pizza for 10k btc and today that is equal to gdp of a small country. Does this not seem completely upside down? What I want to say is looking at all this numbers without perspective makes no sense...
Its closer to $715USD right now, after a 5:1 split last year, so $17->$3575 in 10 years. It has been traded on the public markets since.
10 years ago you could not buy a pizza for 10k btc. Laszlo choose to trade 10k BTC for a pizza, bootstrapping a value exchange on an experimental p2p software network. It was an adhoc tx, not done on a public market (which did not exist at the time).
I don't think it upside down. Assets can gain value over time, especially when you have inflation of the monetary base feeding into these assets, and a growing audience participating. Makes sense!