$Jager 🫵 How was the price of Bitcoin invented? 🤑

In 2009, Bitcoin had no market price at all, and people simply exchanged it on the BitcoinTalk forum. But a user with the nickname "NewLibertyStandard" decided to fix this:

he took his electricity costs for mining and calculated how much it cost him to mine BTC. Based on this, he created the first exchange rate, updating it every day.

Thus, he managed to create his own exchange on his PC at that time. This is how the first rate appeared, where people sold 1309 BTC for ~1$. Moreover, he personally sold 5050 BTC for 5.02$. A legend!