Market

[georgelupino]

If bitcoin didnt have market value before July 2010, what does this mean? How could people buy it if it didnt have any market value then other than p2p, otc, and mining?

 

[pala777]

If bitcoin didnt have market value before July 2010, what does this mean? How could people buy it if it didnt have any market value then other than p2p, otc, and mining?

It means there was no established exchange price, people got Bitcoin mainly through mining, direct trades, or small OTC deals until markets launched in mid-2010.

 

[TheSplinter]

If bitcoin didnt have market value before July 2010, what does this mean? How could people buy it if it didnt have any market value then other than p2p, otc, and mining?

They mostly mined it

 

[georgelupino]

But between mt gox and new liberty standard exchange, who was first in mid 2010? Who made the first breakthrough?

 

[Perrait]

Yeah, early BTC days were wild. People mostly traded it for fun or mined it just to experiment. Do you think the lack of a market price made it feel more like a game back then?

 

[georgelupino]

Yeah, early BTC days were wild. People mostly traded it for fun or mined it just to experiment. Do you think the lack of a market price made it feel more like a game back then?

.....??

 

[ZEUS ACADEMY]

Before July 2010, Bitcoin had no public market price because it wasn’t traded on exchanges yet. People got it through mining, P2P trades, or OTC deals. The first real market value appeared when BitcoinMarket.com launched in July 2010 and started listing BTC against USD.

 

[georgelupino]

Before July 2010, Bitcoin had no public market price because it wasn’t traded on exchanges yet. People got it through mining, P2P trades, or OTC deals. The first real market value appeared when BitcoinMarket.com launched in July 2010 and started listing BTC against USD.

But what about new liberty standard exchange? What was the deal with them in july 2010?

 

[ZEUS ACADEMY]

But what about new liberty standard exchange? What was the deal with them in july 2010?

New Liberty Standard actually came before BitcoinMarket.com. They started quoting a BTC price in late 2009, based on the cost of electricity to mine it, and did some small P2P trades. But it was very low-volume and not widely used, so most people see July 2010 with BitcoinMarket.com as the point when BTC got its first real public market and liquidity.

 

[georgelupino]

New Liberty Standard actually came before BitcoinMarket.com. They started quoting a BTC price in late 2009, based on the cost of electricity to mine it, and did some small P2P trades. But it was very low-volume and not widely used, so most people see July 2010 with BitcoinMarket.com as the point when BTC got its first real public market and liquidity.

But could people actually buy from nls instead of p2p, mining, or otc for july 2010?

 

[ZEUS ACADEMY]

But could people actually buy from nls instead of p2p, mining, or otc for july 2010?

Yes, technically you could buy from New Liberty Standard before and during July 2010, but it wasn’t a true open market like we think of today. It was small scale, fixed rate trades directly with the operator, not an exchange with active order books. That’s why most people still point to BitcoinMarket.com as the start of real market pricing and broader liquidity.

 

[georgelupino]

Yes, technically you could buy from New Liberty Standard before and during July 2010, but it wasn’t a true open market like we think of today. It was small scale, fixed rate trades directly with the operator, not an exchange with active order books. That’s why most people still point to BitcoinMarket.com as the start of real market pricing and broader liquidity.

Directly with the operator? Active order books? But on bitcoinmarket people had to negotiate with prices! Someone told me this,

Mt. Gox, which started trading Bitcoin in July 2010, is considered the first real exchange because it allowed users to trade Bitcoin for fiat currency using an automated order book system. This marked a shift from informal, peer-to-peer trades to a structured platform with real volume and global access.

 

[georgelupino]

Directly with the operator? Active order books? But on bitcoinmarket people had to negotiate with prices! Someone told me this,

Mt. Gox, which started trading Bitcoin in July 2010, is considered the first real exchange because it allowed users to trade Bitcoin for fiat currency using an automated order book system. This marked a shift from informal, peer-to-peer trades to a structured platform with real volume and global access.

What would be the difference between directly with the operator and not an exchange with active order books?