Hacker News Reader

so you'd have bought about 1.3 million bitcoin

There weren't even 1.3 million bitcoin in circulation at that point [1]. If you bought every bitcoin, you could have accumulated about 1.1 million BTC for $850.

[1] http://blockchain.info/charts/total-bitcoins?timespan=all&sh...

View on HN

I see claims like this all the time but it's important to realize that the price you can buy a small amount of something is generally the lowest price any seller will take, not a price all sellers will take.

This holds for financial markets, but I can think of several examples where the opposite is true (i.e. bulk buying gets you a better price).

Weird, and people are now paying close to that 850usd just for 1 coin.

However, if someone had bought coints for even 100usd back in 2010 that would have been weird too and affected the network perhaps a little too negatively.

Not positively?

Reply on news.ycombinator.com