Cool Facts About Bitcoin That You Should Know

2020-01-09 08:00:00

Cool Facts About Bitcoin That You Should Know

Bitcoin is a famous cryptocurrency, though it is mysterious at the same time. Bitcoin has been ruling our economic infrastructure for 10 years now. Bitcoin is the first choice of traders and businessmen. You will be amazed to know that despite the presence of the stock market, people are more interested in investing in digital currencies like Bitcoin, Litcoin, and Ethereum among others.

It will not be wrong to say that Bitcoin has been the king of cryptocurrencies ever since it’s origin. Having that said, it is quite surprising that the people have little or no idea about Bitcoin and its whereabouts.

Well, worry not if you too are one of those living under the rock! This article shall be eye-opening for you. Trust me, you won’t yawn to sleep and Bitcoin is not that boring as it sounds. There are a lot of cool, interesting facts about it.

Who invented Bitcoin? Nobody knows!

However, one name is remembered a lot when it comes to Bitcoin and that is Satoshi Nakamoto. Weird, right? Now, you may think that why is it so? The reason is pretty simple that when the whitepaper for Bitcoin was released to the public, it was under the name of Satoshi Nakamoto. He is said to be one of the program developers of the project Bitcoin. However, this person named “Satoshi Nakamoto” never came out in front of the public and thus his identity remains a mystery to date. He is accused of disappearing leaving the project.

Many people like Craig Wright, an Australian entrepreneur tried to gain fame and use the popularity of Bitcoin by claiming to be Satoshi Nakamoto, but he was soon busted. The identity of Satoshi Nakamoto remains a mystery till date.

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Keep special care of your private key

You need to take special care of your private keys. Without these private keys, you cannot get access to your own Bitcoin account and all your Bitcoin and efforts will be wasted. Neither you nor any other person will be able to use Bitcoins and they will be gone forever.

You will be shocked to know that till now 25 percent of Bitcoin is forever lost.

Do you know what is May 22 celebrated for?

Do you know what May 22 stands for? Think harder! You almost got it……Still can’t get it? Well, 22 May is celebrated as Bitcoin pizza day. Sound amazing, right? Now, you may be busy brainstorming that why is it celebrated as a Bitcoin pizza day?

The reason is pretty simple! On 22 May 2010, two pizzas were purchased by Laszlo Hanyecz for 10,000 BTC at Papa John’s pizza. Shocked, right? Ten years ago in 2010, the value of Bitcoin was pretty less. At that time 10000 Bitcoins were 41 dollars. However, now the price of Bitcoin has hiked up and the value of 10000 BTC is $25.8 million.

Bitcoin cannot be banned!

Just like lovers, there are also too many haters of Bitcoin because it works outside the jurisdiction banking system. Many of the countries like Bangladesh, Bolivia, Thailand, and Vietnam have already tried to block Bitcoin but have been successful because the design of Bitcoin is such that it cannot be banned as long as there are an internet connection and Bitcoin wallets, there is no stopping you. You are good to go! On the other hand, some countries like Australia, Russia, and Japan have made Bitcoin their official tender and are regulating it.

Having said that at last, I would like to say that Bitcoin is one of the most revolutionary technology breakthroughs of the 21st century. Many cryptocurrencies came and left after Bitcoin, but Bitcoin stood the test of time and firmly held its ground. Bitcoin is here to stay!

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