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Interesting Facts You Must Know About Bitcoin

Bitcoin is the most complicated trading system of current times and even the expert traders are having a hard time understanding Bitcoin thoroughly. Having said that, despite the secrecy and anonymity around the cryptocurrency, yet people are curious and are looking more ways to explore Bitcoin and earn huge profit by trading Bitcoin.

Ok, let me start by telling what Bitcoin is all about? Bitcoin can be defined as a virtual currency that is not controlled by any central authority like banks and government, unlike traditional currency. Apart from that, it is created not in banks but by miners, who use computers and specialized network to process transactions and secure the currency network. For a record of all the transactions, you can see the public ledger Blockchain that keeps the record of each transaction.

However, let me tell you that Bitcoin is not at all boring and there are a lot of interesting things that you must have not known about Bitcoin up till now! What are they? Let me tell you.

  • Happy Birthday!

Very few people are aware of the history and origin of Bitcoin. If you are one of those still unaware of where it all began, let me tell you that Bitcoin first came into origin in 2008, when a person or even a group of people under the name ‘Satoshi Nakamoto’, published the white papers discussing the concept of Bitcoin. It is rumored that Bitcoin's birthday is on January 3, when Satoshi mined the first 50 units of the currency.

  • Who is Satoshi?

Ever since Bitcoin came into existence, people have been curious about Satoshi Nakamoto. He never came in front of anyone and even dumped the project Bitcoin at midway. No one knows what his true identity is. Many people were rumored to be Satoshi by the media. According to a newspaper report in 2014, a resident of Temple City, California, Dorian Satoshi Nakamoto was identified as the Bitcoin creator however he denied it.

Not just that, an Australian businessman Craig Wright, in 2015 claimed to have created Bitcoin but was unable to provide sufficient proof for his claims.

  • When you pay for pizza in Bitcoin!

Yes, you heard it right! The very first purchase that was done with Bitcoin was two pizzas, purchased by a person named Laszlo Hanyecz on May 22, 2010, who had successfully mined 10,000 Bitcoins. During that time the value of Bitcoin was low. The value of 10,000 Bitcoin in 2010 was 48 US dollars.

  • US-government has a large number of Bitcoins!

Shocked to hear it, right? But this is so true. During the early days of Bitcoin was more used for illegal activities like purchasing drugs and other illegal stuff online. When the US FBI found out about in 2013, it shut the illegal site silk road that was used for all the illegal activities and seized the Bitcoin wallets controlled by the site. You will be shocked to know that one of those wallets contained 144,000 Bitcoins!

  • Even celebrities love Bitcoin!

Last but not the least, celebrities from the different corners of the world have shown keen interest in investing in this virtual currency and add to their fortune. Hollywood actress Gwyneth Paltrow, Ashton Kutcher, Floyd Mayweather, and Mike Tyson have a strong belief in this cryptocurrency and have invested in Bitcoin startups. Visit the Bitcoin superstar website for more information.

So, these are some of the most interesting and fun facts about Bitcoin.

What do you think of this article? Please share your thoughts on Bitcoin in the comment section below.