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Facts about Bitcoin you were not aware of!

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Even one of the most tech-savvy people had a hard time understand the complex Bitcoin. Still, as soon as it hit the market a decade ago in 2009, it became a hot topic of discussion. People started investing in this much renowned crypto-currency and trust me; it has made millions of people rich. Many people are still investing in it with a dream to becoming rich one day.

Despite the hype around this crypto-currency, it is quite amusing that people are not aware much about this crypto-currency. Well, worry not if you too belong to the same group of people. You are in the right place as this article will provide you with such unknown amazing piece of information about Bitcoin that it will blow you away. 

So just hold tight and continue reading!

Origin of Bitcoin!

Bitcoin came into existence a decade ago in 2009, when a pseudonym Satoshi Nakamoto brought the concept of Bitcoin before the world and discussed how it can bring revolution to the economy of the world. Strangely enough in 2010, Satoshi Nakamoto left the project for some reasons unknown. However other developers picked up the work. Nakamoto is believed to have mined the first 50 units of currency.

An anonymous creator 

The identity of Bitcoin’s creator has also been a mystery. No one really knows who Satoshi Nakamoto is and what he looks like? In 2014, media claimed to have discovered Satoshi Nakamoto as Temple City, Calif., resident Dorian Satoshi Nakamoto. However, it soon just turned out to be rumors and Dorian also denied it.

Whosoever, Satoshi Nakamoto may be, but one thing that is hundred percent true is the fact that he is super rich and has mined million of Bitcoin currency in early days!

10,000 Bitcoins equals to 1 pizza

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The first transaction of Bitcoin is said to have occurred in May 22, 2010 for a pizza. Yes, you heard it right! A programmer identified as Laszlo Hanyecz claimed to have successfully traded 10,000 bitcoins for pizza. The value of 10,000 bitcoins as November 2017 is about $99 million.

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You can pay in Bitcoin

Though it may not seem like it, but many people are using Bitcoin to pay for the services Infact most of the giant firms like Overstock.com, Expedia, Newegg, Dish and Microsoft accept Bitcoins.

US government and Bitcoin

At one time even US government was the biggest holder of Bitcoin. In 2013, after the FBI shut down Silk Road, a site where people could buy drugs and other illicit goods and services, it took over Bitcoin wallets controlled by the site, one of which held 144,000 bitcoins.

Security setback

Being a digital online currency it raises security issues and in early 2014 it has faced one of the biggest losses, raising questions on the security of Bitcoin. In early 2014, Bitcoin suffered a devastating loss after the alleged hacking of a Japanese exchange. About $460 million of the currency was stolen in this incident. 

Even celebrities are interested

Not just the common people, but even celebrities have become a fan of Bitcoin. Actor Gwyneth Paltrow advises Abra, a Bitcoin wallet, and Ashton Kutcher, Nas and Floyd Mayweather have all invested in Bitcoin startups. So, it is not something that is left till just commoners. 

Expensive mining indeed

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Mining is a procedure to create Bitcoin by solving complicated Maths puzzle. This computing power has added a burden to energy systems around the globe, and in some countries, such as China, those systems still are powered by coal. It leads to wastage of lot of natural resources.

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