Amazing facts about Bitcoin

Amazing facts about bitcoin

Say, you have 10,000 bitcoins.What’s the best thing you can buy?

Will you spend them on pizza, for instance?

This is what a bloke did less than eight years ago. Back then, his 10,000 bitcoins were sufficient to get him a couple of pizzas. Imagine having that amount of coins in your Bitcoin poker account right now. With the current price of the cryptocurrency, you could clean up the whole casino easily!

Read some amazing facts about bitcoin and you will be better equipped to talk about bitcoin than 90% of the pundits, who are spewing wild predictions left and right.

1) The inventor of Bitcoin is a mystery.

Yes, that’s correct! The inventor of Bitcoin is still unknown.

Since the inception of Bitcoin in 2009, there have been several speculations about who the father of Bitcoin is.

The Bitcoin whitepaper was made open to the public under the pseudonym of Satoshi Nakamoto. The identity of “Satoshi” is still a mystery yet to be solved.

2) Bitcoin is untraceable & Bitcoin is NOT untraceable.

When making Bitcoin transactions, your name/identity is not used in any form. Only your public address is available. But…

The Bitcoin blockchain is a permanent ledger which is transparent. If anyone knows your Bitcoin public address, they can see how many bitcoins you hold and what transactions you have made.

3) Bitcoins don’t grow on trees.

Just like money, bitcoins also don’t grow on trees.

But unlike traditional paper money, you can’t touch, feel, or print bitcoin.

Bitcoins are mined on the blockchain network, and they come into existence when miners successfully mine Bitcoin blocks.

At present, the mining power of Bitcoin’s network is 300 times more powerful than the world’s top 5 supercomputers combined.

4)There will only ever be 21 million bitcoins.

Bitcoin’s supply is finite.

There will only ever be 21 million bitcoins.

At present, 16.3 million have already been mined and are being traded. The last bitcoin will be mined in 2140. After that, no new bitcoins can be mined.

5) You can buy a lot of stuff with Bitcoin.

People always ask what you can buy with bitcoins.

But the real question should be:

What can’t you buy with bitcoins?
Here are just a few of the goods and services offered:

  • Coffee at Starbucks

  • Funeral items in the US

  • Space travel with Virgin Galatic

  • Order food with Bitcoin

  • E-commerce with

  • Book a flight for BTC

  • Buy a Tesla Car

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