First Exchange Rate Total supply: 100 A site called The New Liberty Standard was the first service to ever exchange Bitcoin for USD. Unlike a stock exchange or cryptocurrency exchanges, where the price of the asset is determined by supply & demand, they set a fixed exchange rate by taking into account the amount of electricity to mine Bitcoin. By taking a look at the ‘Block Difficulty’ and thus the Bitcoin Hashrate, as well as the average electricity costs in the United States, they determined the fair value to be 1309.03 BTC for $1 – $0.00076 per Bitcoin. Date January 15, 2022 Category (IV) Rare Share facebook twitter linkedIn pinterest
