Ethereum's 2014 Price: Buying 1000 Bitcoins for $1 on Taobao

Laurence

What was the price of Ethereum in 2014 and how would it have been possible to buy 1000 coins for 1 yuan on Taobao?

2023-05-28 20:53

Edlyn

The statement "In 2014, 1000 bitcoins were bought for 1 RMB on Taobao" is not related to the Ethereum price as Ethereum did not exist in 2014. Additionally, it is important to note that 1 RMB is equivalent to approximately 0.15 USD, and 1000 bitcoins in 2014 would be valued at around 10 million USD today.

Release time 2023 05 28

Beverly

The Ethereum price in 2014 (1000 Bitcoin purchased on Taobao for 1 yuan) is explained as follows: In 2014, Ethereum had not yet been launched, so it would not have had a price in that year. However, it is possible to speculate on what the price of Ethereum (ETH) might have been if it had existed in 2014. If we assume that the buyer had actually purchased 1 yuan worth of Bitcoin in 2014 and held onto it until today (2021), the value of Bitcoin would have increased significantly. At the time of writing, the price of Bitcoin is around $60,000 USD, which is approximately 387,000 yuan. If we multiply this value by 1000, the total value of the Bitcoin purchase would be approximately 387 million yuan. If the buyer had sold their Bitcoin and used the proceeds to purchase Ethereum at its current price of around $3,000 USD per coin, they would have been able to purchase around 129,000 ETH. Therefore, the hypothetical value of the 1000 Bitcoin purchase in terms of Ethereum would be approximately $387 million USD, or around 1.17 billion yuan.

Release time 2023 05 28

Valley

Sorry, this statement doesn't make sense.

Ethereum was not launched until 2015, so it would not have had a price in 2014. Additionally, Bitcoin and Ethereum are two different cryptocurrencies, so buying 1000 Bitcoins on Taobao would not have any direct impact on Ethereum's price.

Please provide more context or clarification for your question.

Release time 2023 05 28

Precious

Sorry, this statement cannot be translated as it contains inaccurate information. Ethereum was launched in 2015, and it is impossible to buy Bitcoin in 2014 for 1 yuan on Taobao.

Release time 2023 05 28