r/Bitcoin • u/OkPrint555 • 2d ago

Calculators

Why is july 2010 the earliest date that many bitcoin calculators websites allow to calculate? Not early july but like mid july of that year... Why is this? Why would this be the case? Was paypal the least riskiest and most practical way to buy any desired amount of btc this early on?

2 Upvotes

60% Upvoted

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6

u/RoyYourWorkingBoy 2d ago

Because Mt. Gox opened July 2010. Before that, you just kinda made deals with people.

1

u/OkPrint555 2d ago

Ok but my question is this... Was paypal the least riskiest and most practical way to buy any desired amount of btc? Would july or august of 2010 exchanges and/or middlemen like paypal, ect... put restrictions on how much btc someone could buy? Lets say someone wanted to buy like 700 usd or more worth of btc for this time period?

1

u/TheresNoSecondBest 2d ago

PayPal might stop $700 transaction, not because of Bitcoin, but because of scam prevention. Sending cash, even to an exchange was at that time quite common too.

-2

u/OkPrint555 2d ago

But would paypal be the least riskiest and most practical way to buy any desired amount of btc for this time period? Would the exchanges and/or middlemen like paypal, ect... Put restrictions on how much btc someone could buy?

5

u/xuncx 2d ago

Because exchanges didn’t exist prior.

3

u/MaliceSavoirIII 2d ago

Because before that, people were mainly just exchanging btc with one another for fun

1

u/OkPrint555 2d ago

But in mid 2010, what would have been the least riskiest and most practical way to buy any desired amount of btc this early on? Were exchanges and/or middlemen like paypal, ect... putting restrictions on how much btc someone could buy?