10 Most Interesting Facts about Bitcoin

10 Most Interesting Facts about Bitcoin

Bitcoin is an innovative payment network and a new kind of money. With the exponential rise in the price of bitcoin, we have come up with some interesting bitcoin facts that you must know.

1. Bitcoin creator is a mystery figure

The bitcoin date of birth is 2008. Then, an unknown person under the pseudonym of Satoshi Nakamoto published a file describing the protocol and the operation of this electronic payment system. Many people have been linked with the pseudonym, including Nick Szabo, Dorian Nakamoto, Hal Finney, Craig Steven Wright, and others.
Some even think that Nakamoto might be a team of people. As of May 2017, Nakamoto owns about 1 million bitcoins with a worth of more than $2 billion. The network began operating in 2009. The very first million of bitcoins were obtained personally by Satoshi and still belongs to him. Researchers are still trying to find Nakamoto’s wallets to get out on his trail, but Satoshi remains calm.

2. No one control Bitcoin

Nobody owns the Bitcoin network much like no one owns the technology behind email. No one, not even a government or central bank has control over the Bitcoin currency. No one can stop a digital currency transaction from happening.

3. No sender/receiver details

All transactions are connected into block chains; where addresses are a string of 34 alphanumeric characters, and users have unique portfolio IDs. Using that address, it’s impossible to tell the recipient. To protect the privacy even further, most wallet programs assign the users a portfolio ID, which is also used as a username.

4. FBI owns the largest Bitcoin wallet

When the FBI shut down the operations of the Silk Road, it also seized the owner’s assets. In that process, the FBI also became one of the world’s wealthiest bitcoin owners, controlling $120 million coins, making it one of the world’s wealthiest Bitcoin owners.

5. Pizza was the first thing purchased using bitcoin

In May 2010, the first recorded purchase was made for buying pizza worth $25. To do so, 10,000 bitcoins were spent. In May 2017, 1 Bitcoin was worth 20 million Pizzas.

6. Bitcoin network has super power

Bitcoin’s network is even more powerful than supercomputers. According to the experts, Bitcoin networks has a computing power of 2,046,364 Pflop/s. If you go ahead and combine the computing power of the 500 most powerful supercomputers, you’ll get a combined fever of 274 Pflop/s.

7. Losing a bitcoin wallet means losing those bitcoins forever

Your bitcoins are saved in bitcoin wallet. It’s a highly secure storage wallet. But, if you lose it, your bitcoins are lost forever. James Howell lost 7500 Bitcoins worth £4 million by throwing his hard drive which had his Bitcoin wallet.

8. Bitcoin was sent into space

A 3D Bitcoin model was tied to a weather balloon and sent into outer space by Genesis Mining in 2016. Once the weather balloon reached a height of 20 kilometers, the ground team made the transaction to paper wallet. Another transfer was made to the wallet once it achieved the maximum possible altitude of 34 kms.

9. WikiLeaks switched to receiving donations in bitcoins

When WikiLeaks was cut off from donations through bank transfers under the pressure of the states, the site immediately switched to receiving donations in bitcoins.

10. From $27 up to $886.000.

Christopher Koch from Norway bought bitcoins in 2009 for $ 27 and forgot about them, and when remembered, his investment went up to $886.000.

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