bitcoin facts

Bitcoin Facts: 90+ Interesting Bitcoin Facts You Should Know

Checkout the following bitcoin facts collected by Karthik.

  1. The creator or the inventor of Bitcoin is named as Satoshi Nakamoto who is a pseudonym.
  2. In 2008 Satoshi Nakamoto invented Bitcoin.
  3. The first and foremost transaction of Bitcoin took place on January 12, 2009 by Satoshi Hal Finney.
  4. It is estimated that Satoshi Nakamoto has mined 1 million Bitcoins at the intitial stage of this currency.
  5. A number of attempts have been made to find out the true identity of Bitcoin’s creator and who is that mystery man?
  6. It took five long years of time for the single Bitcoin to rise from $0 to $1,000.
  7. The approximate total number of new Bitcoins which are mined each day is 3600.
  8. The Litecoin, which is the competitor to Bitcoin uses a different technology for mining.
  9. It takes more than 20,000 number of working computers to mine the new Bitcoins.
  10. The maximum number of Bitcoins that can actually ever exist is 21 million.
  11. The last remaining Bitcoins are expected to be mined in the year 2041.
  12. It is approximately 64% of the amount of Bitcoins sitting in accounts are have not been touched since the currency has begun.
  13. There are around 31,000 numbers of lines of the computer code behind each Bitcoin.
  14. The physical form of Bitcoins has begun to be marketed in the year 2011 by a company in the United States.
  15. The minting company behind this physical form of Bitcoin shop got shut down after the US Treasury has got wind of its actions.
  16. Alderney is the first jurisdiction which has announced the plans to mint the physical Bitcoins.
  17. Unlike traditional money, each Bitcoin has got a detailed history, which makes it hard to be faked or to be replicated.
  18. A journalist from Bloomberg was offered with a Bitcoin on the live TV in December 2013. And it was promptly stolen by some viewer.
  19. The value of Bitcoins which James Howells’ has stored on his hard drive when he fortuitously hurls it away while transferring it to the Welsh landfill in 2013 is £4.6m or $7.5m at present.
  20. The actual value of Norwegian Kristoffer Koch’s Bitcoin stake was £17 or $28 at the time he bought, was valued more than £500,000.
  21. Actor Jet Li, has received a charity offering in Bitcoin and this succeeded in grabbing the attention of China.
  22. WikiLeaks which is the whistleblowing website has turned towards Bitcoins for the donations after few leading money transfer companies have refused to deal with it.
  23. Vancouver in Canada is reported to have the world’s first Bitcoin cash machine.
  24. The Exchange rates of few renowned currency exchange sites also list Bitcoin alongside with the other currencies.
  25. Thailand is considered as the first country to outlaw the Bitcoin. And it did so on July 2013.
  26. Argentina is the country which saw a rush in the Bitcoin when its own currency has seen massive inflation.
  27. Approximately 80% of the value of Bitcoin has been known to lose in a very few days.
  28. The value of a single Bitcoin briefly became more valuable than an ounce of a gold coin in November 2013.
  29. The Bitcoin’s all-time high value was $1,250 or £764, which was hit in November 2013.
  30. The Bitcoin’s lowest value in the past couple of years was $7 or £4.30, which sank to this level in August 2011.
  31. The value of the Bitcoin was 4 cents in early 2010, which was just a year after its launch.
  32. Dread Pirate Roberts who is the pseudonym operator of the Silk Road website, has reportedly taken seven percent of all the Bitcoin sales.
  33. Ross Ulbricht is the man who got arrested on suspicion of running the Silk Road, and had an amassing fortune in Bitcoin through the illegal activities.
  34. Almost 5% of the world’s Bitcoin is owned by the FBI, followed by the closure and the seizure of Silk Road online marketplace.
  35. Around 80% of the Dread Pirate Roberts’ Bitcoins amount is not yet seized by the American authorities.
  36. Alomost 5% of the Bitcoin’s economy is believed to be made up by the Silk Road before it was shut down.
  37. The first car company to accept the Bitcoins in exchange for the cars is Lamborghini.
  38. Kreuzberg which is part of the Berlin has established itself as one of the Bitcoin-friendly shopping area.
  39. The first Bitcoin-friendly retailer which began using the currency was seen in Manchester in the year 2012, and it is an average corner shop.
  40. Space is the furthest place where the Bitcoin users can travel using the Bitcoins and all thanks to the Virgin Galactic.
  41. Mel B is the former Spice Girl who became the first musical artist to accept Bitcoin as the payment for her music.
  42. Limousines are hired in certain parts of the US by using the Bitcoins.
  43. In Netherlands Pizzas can be bought by using the Bitcoins.
  44. China has banned its banks from trading in with the Bitcoins in December 2013.
  45. The lowest amount of the Bitcoins which are used for every day transaction is 200,000
  46. A man swapped 10,000 Bitcoins for a pizza in 2010. These 10,000 Bitcoins is worth more than $7m or £4.28m in December 2013.
  47. Almost around 200 businesses have held a ‘Black Friday’ sale event by using Bitcoins in the 2013.
  48. A man has put up his house for sale in New York in December 2013 by using Bitcoins which is equivalent to $799,000 or £488,000.
  49. OKCupid is a dating site which allows the users of the site to meet their potential loved one and this site accepts Bitcoins.
  50. A single branch of Subway in the United States accepts Bitcoins to purchase the Sandwhiches.
  51. Satoshi Nakamoto is believed to own around 1 million Bitcoins which is worth $2 Billion at present.
  52. The Bitcoin currency is not controlled by any single entity or any government.
  53. There is finite number of bitcoins which is 21,000,000 only.
  54. Around 1% of the Bitcoin community controls the 99% of world’s wealth.
  55. The Bitcoin transaction fees are seen high by 1289%, since March 2015.
  56. Around 69% of the banks across the world are experimenting with the permission blockchains.
  57. The value of the Bitcoin has been multiplied 879,999 times from the year 2010 when it was invented to till date.
  58. The Federal Bureau of Investigation (FBI) is expected to own around 1.5% of the world’s Bitcoins.
  59. MT Gox is the world’s largest Bitcoin exchange got crashed in 2014 and it prices fell badly by 40%.
  60. The Potential annual savings that has been observed by the banks for utilizing blockchain technology is around $8-12 million.
  61. There are only 807 people worldwide who have ever declared the Bitcoin as income for the tax purposes.
  62. There are only 7 Bitcoin debit cards made available for the businesses and the individuals.
  63. The first big acquisition made by Bitcoin was worth $11.5 million for 126,315 Bitcoins. And this is called as the SatohiDice.
  64. A person named Nakowa has won 11,000 Bitcoins which is worth $1.3M back in the 2013 and is worth over $47M at present through the gambling site.
  65. More than 70% of the Bitcoin network’s collective hashrate is controlled by the Chinese mining pools, where the speed at which each computer is completing the operation in the Bitcoin code.
  66. The 4th largest Bitcoin exchange named Bithumb, was hacked in July 2017 and lost billions of dollars.
  67. In May 2010, two Pizzas were bought by 10,000 Bitcoins. And by May 2017, the value of 1 Bitcoin is worth 20 million Pizzas.
  68. The Bitcoin transactions do not allow for refunds.
  69. The Bitcoin transactions are usually measured in units of Satoshi/byte, where 1 Satoshi = 0.00000001 Bitcoin.
  70. James Howell has lost 7500 Bitcoins which is worth £4 million by throwing his hard drive which had the private key of his Bitcoin wallet.
  71. The Bitcoins which are generated as the reward for mining gets halved every 4 years until all the Bitcoins are totally mined.
  72. Every new block of coin is solved for every ten minutes which means it leads to about 6 new discoveries of the Bitcoins for each hour.
  73. Unlike the traditional currency, these Bitcoins are based on mathematics and are also decentralized.
  74. All the data obtained from the Bitcoin transactions are genuine and fair and can be verified on the Blockchain network.
  75. Around 16.4 million Bitcoins are seen in circulation by July 2017.
  76. The 4000th Bitcoin was worth $3 million and it was donated to the Wikileaks in December 2016.
  77. The Bitcoin network is more sturdy than that of the 500 supercomputers when putting together.
  78. In 2016, a person has accidentally sent $137,000 which is worth of Bitcoins instead of the $5 which has no way to get it back.
  79. The 17 million Bitcoins available at present are expected to be used in the next 10 years.
  80. The limit of the 21 million Bitcoin is expected to expire in the year 2140.
  81. Alphabay Phisher Phishkingz claims that they have made $1 million by stealing the Bitcoins over a period of just 14 months.
  82. The University of Nicosia, situated in Cyprus, is the first university to accept the Bitcoins to pay for the academic fees.
  83. People can earn those extra Bitcoins by playing the games on Blockchain.
  84. The Florida circuit court has dismissed the money laundering case in the year 2016 by saying that the Bitcoin is not considered as money as per the state regulations.
  85. The Bitcoin value has surged up to 162% in 2017.
  86. In August 2012, a Bitcoin Ponzi scheme was introduced by the name Bitcoin Savings and Trust which got shut down and the people who invested lost 700,000 Bitcoins in total.
  87. Microsoft, Dell, and Expedia are a few examples of the companies which accept Bitcoins as their payment.
  88. The Austin Craig and Beccy Bingham have shown on how to survive 90 days with Bitcoins alone.
  89. The number of merchants who accept Bitcoins has grown from 36,000 to 82,000 by the year 2014.
  90. The value of Ethereum in crypto market is 18.7 billion coins and the Litecoin which has a market value of 2.27 billion coins are considered to be the descendant of Bitcoin.
  91. Around 90% of all the Bitcoin addresses have either little or no real value at all.
  92. Roger Ver who owns 52 million Bitcoins, Charlie Shrem who own 45 million Bitcoins and Dave Carlson who own 35 million Bitcoins are few of the Bitcoin millionaires at present.
  93. There are around 1354 Bitcoin ATMs worldwide, across 55 countries by 21 ATM producers and with 231 operators.
  94. The Bitcoin has value added tax (VAT) exemption in Belgium.
  95. The Swiss have classified the digital currency as a foreign currency.
  96. Bitcoin is illegal in few countries like Vietnam, Bolivia, Iceland, Kyrgyzstan, Bangladesh Ecuador, and Thailand.

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