Satoshi decided the value.Thank you for the explanation. I do understand most of what you said and that isn't an issue for me.
The issue I am still unclear about is the value. Who was the 1st person that decided it was x value?
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How did Satoshi decide on the value? I have this burning desire to understand this.Satoshi decided the value.Thank you for the explanation. I do understand most of what you said and that isn't an issue for me.
The issue I am still unclear about is the value. Who was the 1st person that decided it was x value?
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Demand for Bitcoin increased the value to where it is today.
Can you define value for me, value to USD, or?How did Satoshi decide on the value? I have this burning desire to understand this.Satoshi decided the value.Thank you for the explanation. I do understand most of what you said and that isn't an issue for me.
The issue I am still unclear about is the value. Who was the 1st person that decided it was x value?
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Demand for Bitcoin increased the value to where it is today.
And how does the market dictate? I know it does, but how?
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There must have been a time where is was of value $0 and then, the next moment it was $0.01 and to what BitCoin amount?Can you define value for me, value to USD, or?How did Satoshi decide on the value? I have this burning desire to understand this.
Satoshi decided the value.
Demand for Bitcoin increased the value to where it is today.
And how does the market dictate? I know it does, but how?
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As for how the market dictates, supply and demand.
If I recall correctly, it was sub-penny at 0.008 USD.There must have been a time where is was of value $0 and then, the next moment it was $0.01 and to what BitCoin amount?Can you define value for me, value to USD, or?How did Satoshi decide on the value? I have this burning desire to understand this.
And how does the market dictate? I know it does, but how?
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As for how the market dictates, supply and demand.
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hello SpartanZA,There must have been a time where is was of value $0 and then, the next moment it was $0.01 and to what BitCoin amount?Can you define value for me, value to USD, or?How did Satoshi decide on the value? I have this burning desire to understand this.
And how does the market dictate? I know it does, but how?
Sent from my SM-N910F using Tapatalk
As for how the market dictates, supply and demand.
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LiteCoinGuy, you are miss-informed, though it is a cute story.hello SpartanZA,There must have been a time where is was of value $0 and then, the next moment it was $0.01 and to what BitCoin amount?
Can you define value for me, value to USD, or?
As for how the market dictates, supply and demand.
Sent from my SM-N910F using Tapatalk
satoshi did not decide any value.
but yes, there was this moment. the birth of bitcoins value.
It was at this price when Jacksonville resident Laszlo Hanyecz purchased a pizza for 10,000 BTC, or $25. (actually it was more than one pizza)
so why did Laszlo paid 10000 BTC for a pizza and another guy was ok with this payment? because the pizza-maker thought that bitcoin had value: exactly 10k bitcoins for 1 pizza. and Lazlos was okay with paying 10k bitcoins for a pizza. both parties agreed that that was bitcoins value.
the market made the price.
at a later stage there was an exchange called mtgox where buyers and sellers met each other and traded. the market (people) made the price.
(and people traded over various forums and chats of course)
Can we get more insight?LiteCoinGuy, you are miss-informed, though it is a cute story.hello SpartanZA,There must have been a time where is was of value $0 and then, the next moment it was $0.01 and to what BitCoin amount?
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satoshi did not decide any value.
but yes, there was this moment. the birth of bitcoins value.
It was at this price when Jacksonville resident Laszlo Hanyecz purchased a pizza for 10,000 BTC, or $25. (actually it was more than one pizza)
so why did Laszlo paid 10000 BTC for a pizza and another guy was ok with this payment? because the pizza-maker thought that bitcoin had value: exactly 10k bitcoins for 1 pizza. and Lazlos was okay with paying 10k bitcoins for a pizza. both parties agreed that that was bitcoins value.
the market made the price.
at a later stage there was an exchange called mtgox where buyers and sellers met each other and traded. the market (people) made the price.
(and people traded over various forums and chats of course)
People were trading Bitcoin for USD before ordering pizza!
Yes, like this:Can we get more insight?LiteCoinGuy, you are miss-informed, though it is a cute story.
hello SpartanZA,
satoshi did not decide any value.
but yes, there was this moment. the birth of bitcoins value.
It was at this price when Jacksonville resident Laszlo Hanyecz purchased a pizza for 10,000 BTC, or $25. (actually it was more than one pizza)
so why did Laszlo paid 10000 BTC for a pizza and another guy was ok with this payment? because the pizza-maker thought that bitcoin had value: exactly 10k bitcoins for 1 pizza. and Lazlos was okay with paying 10k bitcoins for a pizza. both parties agreed that that was bitcoins value.
the market made the price.
at a later stage there was an exchange called mtgox where buyers and sellers met each other and traded. the market (people) made the price.
(and people traded over various forums and chats of course)
People were trading Bitcoin for USD before ordering pizza!
Sent from my SM-N910F using Tapatalk
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