This post is about interesting fact about bitcoin.
Interesting fact about Bitcoin
• According to many people, bitcoin and blockchain are invented by Satoshi Nakamoto. But who is Satoshi Nakamoto, where he lives no one knows?
• According to some people, Nakamoto own around 4.7$ billion bitcoins.
• Bitcoin is digital currency operated by no one. Any government or bank can not control any transaction in blockchain which makes bitcoin decentralized currency.
• Bitcoin price is going up and up day by day, year by year just because a total number of bitcoin mine from blockchain is limited. Total 21million bitcoin circulation is possible. Till the day 16.5M BTC is circulated.
• 34.28% of a bitcoin exchange is done by 1000 bitcoin addresses. Means only 1000 address alone take 1/3 part of bitcoin exchange.
• Just because of the popularity of bitcoin, bitcoin transaction fee from March 2015 to Feb 2017 up by 1289%.
• 69% of banks who participated in Infosys survey are participating with permission blockchain missioned blockchain.
• Bitcoin market started with 1$ and now goes to 75.8billion till the end of Aug 2017.
• 64% of bitcoin is not used by anyone till the present.
• Blockchain, a bitcoin wallet raised her value from 40$, given by Google Ventures and Richard Branson who is greater investor and trader.
• Circle, BOCKSTREAM, and DIGITAL ASSIST these are 3 biggest company born by bitcoin industry.
• FBI owns 1.5% of total bitcoins.
• If blockchain technology used by top 10 banks in the world then total saving is equal to an 8-12 billion dollar. This saving includes paper cost, print cost, ink cost and lots of other.
• In 2015, only 802 people paid taxes on bitcoin income just because no one can trace the transaction.
• MT Gox and bethumb two biggest bitcoin company hacked by hackers in 2014 and July 2017 respectively.
• Satoshi dice is first big Bitcoin acquisition with 126,315 bitcoin in 2013.
• Nakowa won 11,000 BTC on a gambling site in 2013 which is worth of 1.2$ Million.
• Because of low electricity cost Chinese market control 81% of bitcoin mining hash rate.
• Antpool Chinese mining pool mined 20% of blockchain in between 2016-2017.
• 22 may is celebrated as pizza day. On this, a man bought two pizza with 10k bitcoin in 2010. Which is equal to 20$ million nowadays.
• The smallest unit of bitcoin is Satoshi. Bitcoin can be divided into 8 point decimal. Each point represents satoshi. Here 1 satoshi=0.00000001BTC.
• If you lose your bitcoin wallet, you will lose your bitcoin forever. James Howell lost 7500 Bitcoin just because he lost hard drive where he stored all bitcoins. Value of bitcoin lost of James is equal to 4 million dollars.
• A new block of the coin is solved in every 10 minute by miner where the possibility of Chinese miner is 80%.
• In every 4 years awarded of bitcoin mining get half. After 64 halving all 21 million bitcoin is in circulation.
• All bitcoin transaction can be seen in the blockchain. All transactions are transparent, anyone can see.
• SHA-256 is a function used for bitcoin wallet address creation.
• Bitcoin network is soo much powerful such that 500 supercomputers cannot compete with blockchain together.
• All transactions are reversible. Means you can not reverse once transaction happen. In 2016 accidentally 137000$ is sent instead of 5$.
• 17 million bitcoin is used after 10 years.
• All 21 million bitcoin come in circulation after 2140 as expected.
• University of NICOSIA, CYPRUS is the first university to accept bitcoin as a fee.
• A company like Microsoft, Amazon, dell accept bitcoin as payment.
• Bitcoin could be accepted In 300,000 stores in Japan.
• 90% of bitcoin address has less than 0.1 BTC.
• One bitcoin transaction consumes 3994 more energy compared to credit and debit card transaction.
• Since 1st April 2017, bitcoin is legal payment method in japan.
• Bitcoin is illegal in Saudi Arab, Bolivia, Kyrgyzstan, Bangladesh.
• In 2013, Thailand banned bitcoin.but in 2017 bank of Thailand suggest bitcoin is not illegal.
• By Aug 2017, there is 1402 bitcoin transaction atm.
• North America has over 75% of world bitcoin ATMs.
What expert think about bitcoin
Bitcoin is a groundbreaking technology & at the same time, it’s an investment heaven. However, like the primary rule of investment, you need to understand how Bitcoin works & most important how to keep Bitcoin secure. Don’t keep your Bitcoins at an exchange from where you have purchased it. Rather, get a good hardware wallet where you are the owner of the seed key. Bitcoin is definitely reaching $5000+ in 2018 & it would happen because of the recent adoption of altcoins. Bitcoin is now seen as a Crypto which is great to hold rather than usual usage like paying for coffee & others micropayments. Do remember, Bitcoin is a high-risk investment with a greater return. My suggestion for any seasonal investor is to invest their medium risk part of the portfolio in Bitcoins.
-Harsh Agrawal form coinsutra.
“Bitcoin is more than money, it is a movement that shifts the balance of power from the few to the many.” – Panama marketer from $200 social.
“The European Commission is about to legally define cryptocurrencies, exchanges, and wallets. I think this will drive bigger players to enter the game and thus, hasten the innovation in this field.” – Philip from CoinStaker.com
Bitcoin is better than the currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.” –Bill Gates from Microsoft
Bitcoin is a great investment if you love trading. Anyone can invest easily in bitcoin. Digital currency is future of world currency. Surely after the launch of new digital currency from Microsoft, the scenario will be different but demand is never a drop.
So this is some interesting point about bitcoin and how an expert thinks about bitcoin. Surely bitcoin will be future of digital currency.
I hope you will amaze and excited to share this information with your friend because sharing is caring.share more facts with others in the comment section.