Quick Facts About Bitcoin You Should Know

Fast Facts About Bitcoin

Quick Facts About Bitcoin You Should Know

  • The Bitcoin has the same features as money: longevity, portability. Acceptability, supply minimal, divisibility and uniformity.
  • There is no actual coin widely known as reflecting Bitcoin.
  • Can convert bitcoins to other currencies.
  • Bitcoins are stored in wallets with apps.
  • The Bitcoins will have a maximum total of 21 million.
  • Bitcoin is a digital currency external to the banking system.
  • Bitcoin was developed by nongovernmental citizens.
  • Bitcoins are divisible in decimals for payments.
  • Bitcoin is now accepted by many retailers as a digital payment.
  • Bitcoin is illegal in more than seven countries.
  • Satoshi Nakamoto invented Bitcoin on a white paper and published it in 2009.
  • In Bitcoin, the capital gains are a taxable occurrence.
  • Miners ‘ solve complex problems in mathematics and build bitcoins.
  • Bitcoin is a financial instrument profiting from capital gains.
  • Bitcoin as a store of value and trading tool is very unpredictable.
  • Bitcoin is only one of several hundred cryptocurrencies.
  • Bitcoin is not an investment but a gamble.
  • Bitcoin is the first and most common mover in the Blockchain / CryptoCurrency space.
  • Bitcoin has had one of the greatest percentage-based appreciation of anything in financial history since the Holland Tulip Mania.

Interesting Bitcoin Facts You Need To Know

One explanation of why people don’t want to use Bitcoin is that they don’t know enough about it.

Here are some details about Bitcoin you need to know

The first purchase of Bitcoin was to pizza.

Are you aware that Bitcoin Pizza Day is celebrated on May 22?

Fast Facts About Bitcoin

Initially, when bitcoins were mined, they were practically worthless, because purchasing a BTC cost literally cents.

Yet that was when someone bought something with bitcoins before 22 May 2010.

On this day, seven years ago, somebody purchased Pizzas with bitcoins and this transaction was a big deal because no store accepted Bitcoins for products and services at that time.

On 22 May 2010, Laszlo Hanyecz traded two Papa John’s Pizzas for 10,000 BTC. It was the first recorded official purchase of the product using bitcoins.

The value of BTC 10,000 at the time was $41.

The value of BTC 10,000 at the time of writing this article is about $25.8 million.

Bitcoin’s Inventor is a mystery.

Yeah, that is true! Bitcoin’s author is as unknown yet.

Since Bitcoin’s emergence in 2009, there have been many speculations on who is Bitcoin’s father. Under the pseudonym of Satoshi Nakamoto, the Bitcoin whitepaper has been made publicly accessible. Satoshi identity is still a mystery which has yet to be answered.

In the middle of this mystery, there are some people including Australian entrepreneur Craig Wright who claimed to be Bitcoin’s founder in May 2016.

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