I don't know whether the graph is wrong, or I'm interpreting it wrong, but it appears to say that if I had converted a dollar ten years ago (I didn't), I would have received 20.0 XBT, and if I didn't lose it, I could today convert it to more than twenty thousand dollars. Seems hard to believe. Is it actually true? The answer will not benefit me financially, but I'm extremely curious. :-)
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Slightly more than 200% APR … although it's relatively level now.– WGroleauApr 5, 2017 at 14:16
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1 Answer
It's not exactly true. Bitcoin didn't exist ten years ago. The initial version was released in January 2009.
But it is true that early in its history, Bitcoin could be bought very cheaply, and I am sure there was a time when you could have bought 20 XBT for one dollar. (There was a famous transaction in May 2010 when two pizzas were exchanged for 10,000 XBT.) And it's true that 20 XBT today could be sold for over $20,000.
You should not interpret this as any sort of indication that investing in Bitcoin today, or in any other cryptocurrency, is likely to provide the same sort of returns.
answered Apr 5, 2017 at 14:25
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No, the same graph shows it relatively level the past several months.– WGroleauApr 6, 2017 at 13:47
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If you count fluctuation over $300 in the past 30 days "relatively level" then ok: bitcoincharts.com/charts/bitstampUSD#rg30ztgSzm1g10zm2g25zv Apr 6, 2017 at 17:38
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I have an email from sometime in the early 2010s that mentions an MMO accepting bitcoin as payment at a rate of something like 1500 per month, which was an actual discount at the time. Jun 5, 2017 at 15:49