General Facts About Bitcoin

When we talk of Cryptocurrency, Bitcoin is perhaps the very first name that strikes our mind. No wonder that the price and technical facts of Bitcoins are surprising, but here we will have a look at some of the other unbelievable facts about the King of Cryptocurrency. 

Even when people are using Bitcoins for both daily and transactional purposes, the majority of them are still not aware of these facts. 

General Facts About Bitcoin

So, what are those?

Let us check some of the general yet interesting facts about Bitcoins: 

The Very First Purchase using Bitcoins was for Pizza: 

Bitcoin Pizza Day is celebrated on 22nd May. Isn’t it surprising? 

Initially Bitcoins are virtually worth nothing as it only costs a few cents to buy one BTC. However, this situation lasted till 22nd May when the first purchase was made by someone to buy goods. 

11years ago on 22nd May someone bought Pizza from Papa John’s Pizza for 10,000BTC. The official purchase started from this. During that time, this was worth only $41. 

However, if you see the condition now, then 10,000 Bitcoin = 361,925,443 dollars 35 cents

Creator of Bitcoin is still a Mystery: 

This is one of the biggest questions of people and the truth is there is still a mystery behind this. 

Since 2009 after the advent of Bitcoin, there have been many speculations about the inventor. Even when the Bitcoin whitepaper was created under Satoshi Nakamoto, the real identity remains a mystery. 

Amidst several speculations, some even have suggested that this might be a combined effort of Motorola Toshiba, Nakamichi, and Samsung. 

  • Satoshi – Samsung and Toshiba
  • Nakamoto: Nakamichi and Motorola

Being a decentralized method for exchanging money, the anonymous behavior led to a healthy growth for the platform. 

Hard Drive is The Most Valuable Thing for Bitcoin: 

You must be knowing that there is a limited number for Bitcoin which is 21 million. From this, several have been lost over the years. 

One of the most common and well known examples is the incident that took place in 2013. This is when a British man threw the hard drive while cleaning which led to a huge loss. 

This single hard drive consisted of over 75,000 Bitcoins which was mined over the time of four years. If the calculator is done then it can be seen that there would be over a few billions of Bitcoins. 

Thirty-one Thousand Codes are required for Bitcoin: 

Bitcoin was invented on 3rd Jan 2009 by the name of Satoshi Nakamoto. This is the 36 year software coder who has to claim that it took over a year to write the codes for developing the digital currency. 

Bitcoin Mining Needs Lot of Power: 

Bitcoin mining is the process of Bitcoin. This is usually an expensive princess as a lot of time, electricity, and money has been put into mining them. Servers are required for some definite purposes. Faster data processing is equivalent to faster addition of blacks into the blockchain. Eventually, you will be rewarded with Bitcoins in turn. 

Reading the surprising facts about Bitcoin is often interesting. Hopefully after reading these facts the level of excitement has taken a new level. Nevertheless, Bitcoins are one of the precious digital currencies at the current time.