BITCOIN AND SOME INTERESTING FACTS OF BITCOIN

darkhorse27 (50)in #bitcoin • 7 years ago

Bitcoin is the first digital cryptocurrency, a form of currency without notes and coins. It is the most popular, notable and highest in market capitalization. It is a decentralized currency that is traded solely on computers and the internet. It was released as open-source software in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. Here are some interesting and amazing facts about bitcoin.

Satoshi Nakamoto, who invented bitcoin in 2008, is still remains in shadows.
Initial price value of bitcoin in July 2010 was $ 0.008. In first five days, the price grew 1000%, rising from $ 0.008 to $ 0.08 per bitcoin. After 1 year in July 2011 its price reached $31.00. Current bitcoin price (June 5, 2017) is around $2500 above. And the price of bitcoin could go as high as $3,500 in 2017.
The computer software source code for bitcoins is about 31000 lines long.
The maximum number of Bitcoins that can ever exist is 21 Million.
The value of bitcoins stored on James Howells’ hard drive when he accidentally threw it away, sending it to a Welsh landfill in 2013, was worth $7.5million.
It is no one else but Satoshi Nakamoto, the fantastic Bitcoin and underlying technology creator, who sent 100 bitcoins to Hal Finneyon January 12th, 2009. It was the first transaction made in bitcoins.
The largest transaction ever made on the network: 194 993 BTC.
When Laszlo Hanyecz, a programmer paid a fellow bitcoin user 10,000 bitcoins (roughly $25 then) for two Papa John’s pizzas on May 22, 2010, little did he know that it would be worth millions today? Since then, May 22 is celebrated as Bitcoin Pizza Day to celebrate the most expensive pizzas in history.
The computing power of the Bitcoin network is 7468 times higher than the one of the cumulative 500 world supercomputers.
Norvegian Kristoffer Koch invested $28 in bitcoin in 2009 and forgot about it. When he remembered this in 2013, it was worth about $8,25,000.
The process of creating Bitcoin is commonly called mining and can be undertaken by anyone. Bitcoins are mined using powerful computers that solve complicated mathematical equations.
With bitcoin in limited supply, estimates say the last bitcoin will be mined in the year 2140.
Bitcoin is Divisible to 1 Million Bits. One bitcoin can be broken down to 100,000,000 bits. 0.00000001 of a bitcoin is known as a satoshi.
Bitcoin Network is virtually ‘Unhackable’. Bitcoin is secured by military-grade cryptography. The only considerable source ever imposing a threat would be quantum computing, which does not yet exist.
Lamborghini became the first car company to accept payment in bitcoins.
Bitcoin Computes More Than 100,000 Transactions a Day. This number has been growing at an exponential rate and will continue to do so, as more bitcoins become readily available.
The Canadian city, Vancouver became the first city to install bitcoin cash machines.
The best way for you to get some Bitcoins is Black Friday.
Bitcoin and bitcoin aren’t the same. Bitcoin with a capital ‘B’ is used when referring to the network, while the currency is spelt with a small ‘b’.
Bitcoin Transactions are Pseudonymous. The true names of buyers and sellers are never revealed. Though each transaction is recorded in a public ledger (blockchain) only their wallet ID’s will be represented.
This baby girl is known worldwide as the 'bitcoin baby'. She was born in a special fertility clinic, where the doctor C.Terence Lee was accepting payments through bitcoins. The parents did not think of it at first but later since the doctor was offering a large discount if the payment was made through bitcoins, they agreed. Thus was the born the bitcoin baby.
A drunken Brit wanted to buy a pizza to thank a guy in the US for some free publicity. Finding it harder than he had anticipated, he asked reddit for a solution, and was recommended Bitcoin. Not realizing the value, he accidentally bought two bitcoins, worth about $550 at the time, and leaving a substantial Bitcoin balance. Still tipsy, he offered to buy pizzas for any redditors who had helped him to buy the first one. This led to him being labeled the “Jesus of the Internet.”