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Interesting Facts About Bitcoin

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Facts About Bitcoin

Bitcoin has managed to garner a lot of attention ever since it’s the origin. Especially when it hit a high of $20,000 in 2017 making a lot of people millionaires. Many people ever since have started trading Bitcoin with more confidence and most have them have ended up earning a huge amount of profit. Many have found Bitcoin to be a great business to try hands in and have become self-proclaimed Bitcoin traders and investors. 

However, the shocking part is that most of the Bitcoin traders, no matter how skilled they are, have less knowledge about Bitcoin, it’s the origin and even some of the common information around Bitcoin.

If you too do not have much information about Bitcoin whatsoever, then I am glad to inform you that you are in the right place. Yes, in this article I will inform you about the various interesting facts regarding Bitcoin that you may have never known. 

Read on to uncover the interesting details about Bitcoin.

  •        Bitcoin is the Father of 436 Altcoins 

Yes, it is indeed true. Many cryptocurrencies followed their way into to market after Bitcoin. As of now, there are 2651 cryptocurrencies in the market out of which 436 have come directly or indirectly through Bitcoin forks. You can easily find out the name and the source of each Altcoin in Map of coins. The sad part is that the Bitcoin forks have always tried to match up the success of Bitcoin but have mostly failed.

  • When Bitcoin’s Blockchain got hacked! 

It was a horrifying incident that occurred on 15 august 2010. It is also called as “Value overflow incident” in which a hacker hacked the Bitcoin’s Blockchain and created a huge amount of Bitcoin. It is said to be about 184 Billion of them.

However, the situation was soon taken in control after Bitcoin creator Satoshi Nakamoto created a Version 0.3.1 of Blockchain just within 5 hours. It restricted any further future printing of Bitcoin through hacking and all the 184 billion bitcoins were deleted.

BTC version 0.3.1 is the blockchain that everybody uses today.

  • There is even a smaller unit of BTC than Satoshi
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For those who thought that 1 Satoshi, which is 0.00000001 BTC, is the smallest BTC unit, it is not true indeed. The smaller BTC unit is called Millisatoshi, which represents that one-thousandth part of Satoshi.

  • Very small Majority of people have Bitcoins 

That day is not far away when Bitcoin will be a scarce resource that only a handful of people will possess. For now, there are only 732,982 people in the whole world that own more than one BTC. The population of the entire world is around 7.5 Billion, so in such a situation it can be easily said that there is a very small portion of people around the world that have Bitcoin.

Soon, there will be a time that Bitcoin will be a scarce resource and it will be available with only limited people.

  •        5 BTC per visitor

The headline is quite attractive in itself. Well, it was during the early days, when Bitcoin was new. A Bitcoin faucet was a website created during that time that gave a decent reward of 5BTC to every visitor.

This Bitcoin Faucet aimed to make people aware of Bitcoin and encourage them to use Bitcoin Future App.

So, these are the five amazing facts about Bitcoin that I am sure you would be unaware of. 

I hope you enjoyed learning about these new facts about Bitcoin. What do you think about this article? Please share your thoughts in the comment section.

 

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