24 Bits of Information About Bitcoin Every Cryptocurrency User Should Know

Bitcoin is reaching its ten-year mark, and there are still many people who are unaware of certain facts. Here are 24 bits of information about Bitcoin.

  1. Satoshi Nakamoto” created bitcoin, but no one knows anything about the person or group.
  2. Some believe that due to the translation of the name, which means “clear thinking, inside relationship, and foundation,” the Central Intelligence Agency may have created Bitcoin.
  3. Others believe that four companies created bitcoin: Samsung, Toshiba, Nakamichi, and Motorola.
  4. And there are those who surmise that it was created by NAFTA.
  5. The first ever bitcoin purchase was for two pizzas. If bitcoin was at its highest value at the time, each pizza would have cost $99 million, making it the most expensive food order in history.
  6. May 22nd is Bitcoin Pizza Day.
  7. Even though many believe that bitcoin is decentralized, others argue that it is not because four mining entities contract over half of the hash rate.
  8. Bitcoin can be used to purchase a goat and a trip to outer space.
  9. Bitcoin is definitely built on a distributed system
  10. Bitcoin’s smallest denomination is called a “satoshi” and it represents a one-hundred millionth of a bitcoin.
  11. Bitcoin is both a commodity and a currency.
  12. The graphics card is equivalent to a shovel in the goldrush.
  13. The United States has the most bitcoin ATMs – more than all other countries in the world combined.
  14. It is necessary to generate a public and private key to buy and sell with bitcoin. There are over 4 billion possible combinations that one will need to go through to figure out another’s private key.
  15. 3.79 million of the total bitcoins in circulation, valued at $252 billion, have been forever lost because many do not know how to handle the digital asset.
  16. James Howell of Wales tossed out an old hard drive with a private key to 7,500 bitcoins, worth $50 million.
  17. Only 21 million bitcoins will ever been in existence.
  18. Satoshi Nakamoto owns 1 million of the 21 million bitcoins.
  19. It may take until 2140 for all the bitcoins to be mined.
  20. 80 percent of all bitcoins have been mind
  21. 23,000 addresses hold over a million dollars-worth of bitcoin each.
  22. Anywhere from 20,000 to 200,000 have made over a million dollars in bitcoin profits.
  23. Bitcoin has “died” many times, but it keeps coming back. You can generate your own Bitcoin obituary as well.
  24. Bitcoin is not the first cryptocurrency – Digicash is and it was founded in 1989.

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