The Early Birds Got Lots Of Worms

2개월 전
The Internet moves very fast. In the old world, we could afford to sit and analyze forever. But in the new world, the first mover has the advantage. - Author Raymond Kwok

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Thought Catalog

Bitcoin

Can you buy 1 full Bitcoin for just $0.0009?

History says, on October 12, 2009, someone sold 5050 Bitcoins for $5.02, which translates to $0.0009 per 1 Bitcoin.

A Finnish developer Martti Malmi, who reportedly helped Satoshi on Bitcoin, made the aforementioned sale.

Wow! 1 Bitcoin for $0.0009!

But then in the beginning nobody was willing to buy Bitcoin. So, it had no price.

The pioneers behind the coin had to trade the "innovation costs" for the "first-mover advantage".

While others trade the "imitation costs" for the "free-rider effect".

The early bird, as the adage goes, gets the worm. However, the second bird saves energy on the scouting.

I happened to be Googling for the initial price of Bitcoin and came across a piece by one Ofir Beigel: Bitcoin Historical Price & Events

Whoa!

$0.0009!


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