20 Awesome Bitcoin Facts

Bitcoin has been exploding in value and media attention. Just this month the price index broke a new high and 1 coin was worth over $2,500 (see the graph below). Bitcoin is accepted in the US and some major retailers are fully embracing this new form of payment.

Whether you’re a believer or disbeliever, bitcoin is certainly making a mark and captivating the financial world’s eyes and ears. This cryptocurrency is relatively new and the inner workings are a bit confusing. If your interest is peaked and want to learn more, I’ve put together a list of 20 awesome bitcoins facts. I’ve done extensive research on bitcoin the past week, so I’m confident some of these will surprise you. Enjoy!

  1. Bitcoin is the first decentralized cryptocurrency.
  2. Bitcoin has a cap of 21 million coins, as of writing this, 16 million have already been mined.
  3. Bitcoin is a peer-to-peer payment system, so if you send someone money it doesn’t go through any bank or financial institution. It’s delivered instantly to the receiving wallet.
  4. Bitcoin value is changing every day. Its ticker symbol is BTCUSD.
  5. Bitcoin’s creator is unknown, however the individual(‘s) has gone under the name Satoshi Nakamoto. It’s believed they own at least 1 million bitcoins. Roughly equal to 2.5 billion USD.
  6. BitLegal, a site that tracks the legality of digital cash, has a world map where you can see what countries accept, debate, and deny bitcoin.
  7. Bitcoin mining is a term used for people who earn bitcoins by running software that verifies transactions and provides power to the bitcoin network (block chain and ledger). When bitcoin first came out anyone could use their personal computer to do this, but now that the ledger is bigger it requires more powerful and expensive hardware usually upwards of $1,000 dollars.
  8. There’s a Reddit subforum called “girls gone bitcoin” that’s dedicated to girls who strip for bitcoin.
  9. A plethora of big name companies accept bitcoin such as Subway, Steam, Dell, Microsoft, Expedia and more.
  10. Other popular forms of cryptocurrency exist such as Ethereum, Litecoin, Dash, and Monero. Bitcoin is the most favored.
  11. Lamborghini is the first car company to accept bitcoin.
  12. The cryptography used to verify bitcoin transactions uses SHA-256. An algorithm designed by the NSA.
  13. There’s a buried hard drive in a landfill in Europe that’s worth about $8 Million bitcoins. The owner accidently threw it away after cleaning his room.
  14. As of May 2017, there’s over 350,000 confirmed bitcoin transactions a day.
  15. When mining got increasingly more difficult on regular PC’s, miners started joining mining pools. Where users share their processing power in a collective pool, and split bitcoins evenly among each other.
  16. The United State currently has the most bitcoin nodes, according to https://bitnodes.21.co.
  17. There’s currently over 800 bitcoin ATM’s in the US. Source- https://coinatmradar.com/country/226/bitcoin-atm-united-states/
  18. Numerous companies have created physical bitcoins. Many have have stopped operation due to legal issues. Some of these printed coins are more valuable than others. Casasciois coins are the most popular. They have a peelable strip that reveals a private key with BTC. Some still sell on eBay un-stripped.
  19. Some bitcoin addresses contain thousands of coins but have never been spent because the owner’s forgot their key. Bottom line: always remember your key. For example: 1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF -Which has 75,975 btc never touched.
  20. You can watch live bitcoin transactions on bitcointicker.co/transactions/.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.