The very first Reddit thread on Bitcoin 14 years ago; Here’s what it said

On this day in 2009, a Reddit user posted the first ever thread on Bitcoin (BTC), titled “Bitcoin: A peer-to-peer network-based anonymous digital currency.” The thread links to Bitcoin’s page on SourceForge, an online community where users post their open source projects.

The Reddit thread has 280 upvotes and 241 comments. Reddit users initially expressed mixed feelings about Bitcoin, with some recognizing its potential even then, while others were much more skeptical due to security, potential government scrutiny, and so on.

“Holy cow! Seems incredibly creative. But I’m definitely wondering about safety and whether the idea will catch on.”

– one of the users commented in the 14-year-old post.

Other comments were far more pessimistic, with some users suggesting that Bitcoin was the first “fully digital pyramid scheme.” Similarly, another Reddit user wrote that the idea “seems cool in theory,” but it will likely be used by criminals to buy “illegal material from the internet,” the user added.

Bitcoin price change over the years

Published on May 8, 2009, the first Bitcoin thread was posted on Reddit just four months after Satoshi Nakamoto launched Bitcoin software. At the time, the world’s largest cryptocurrency was worth less than $0.01.

Currently, BTC is trading at $27,852, which means that the cryptocurrency increased by almost $28,000 since its launch 14 years ago.

It’s been a wild ride for Bitcoin. In 2010, BTC was first traded for fiat currency, with an estimated value of less than one cent. Just a year later, the cryptocurrency hit parity with the US dollar for the first time.

In 2013, Bitcoin saw its first massive rally, rising to an all-time high of roughly $1,200 in December. However, the BTC price crashed in 2014, and did not experience significant upside until 2017, when it hit a new all-time high of nearly $20,000, also in December. Just a year later, the number one crypto token suffered a significant correction, plunging to as low as $3,200.

In 2020, BTC experiences another significant price increase, ending the year at $28,949. The cryptocurrency continued to rally in 2021, reaching its current all-time high of $68,789 in November 2021 after a significant bull run.

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