5 Interesting Facts About Bitcoin

0
73

With Bitcoin generating a huge amount of interest from people across the globe, and an increasing number of people opting to use the decentralized system, how much do you really know about bitcoin? From its in consumer retail, to the rise of BTC gambling, knowing about Bitcoin is more important now than ever before. For everything you need to know – but didn’t know – about bitcoin, take a look at the following interesting facts!

Who Is Bitcoin’s Creator?

Bitcoin creator, Satoshi Nakamoto, is still a mystery figure and is simply a name used by the person or persons who created bitcoin. Due to this, there is still a mass of doubt about the real identify of the creator of bitcoin. Over the years, several individuals have been linked with the name, including Computer Scientist, Nick Szabo, and Hal Finney, a developer for PGP Corporation. Others, however, believe that ‘Nakamoto’ is a team of people, as opposed to a specific individual. For now, the mystery lives on.

Bitcoins Are Limited In Number

You might have heard about bitcoin mining – the process from which bitcoins are generated digitally. So, does this mean that there is an infinite number of bitcoins? Unfortunately not. The number of bitcoins remains limited due to a pre-defined schedule. As we approach the grand total of 21 million, the mining process is becoming significantly more difficult.

It’s Impossible To Know The Sender & Receiver Details

Did you know that bitcoin addresses are a long string of 26-35 alphanumeric characters? When using that address, it is virtually impossible to tell who the recipient is, which can help to add to the anonymous element of the cryptocurrency. While you can see when transactions were made, the actual bitcoin address is not associated to any personal details, keeping your identity secure. Moreover, several wallet programs assign the users a portfolio ID, which helps protect the privacy of the user even further.

Pizza Was The First Thing Purchased Using Bitcoin

The first bitcoin transaction took place between Satoshi and Hal Finney in 2009, and the first recorded purchase was made for – you guessed it – pizza. Costing a mere $25, 10,000 bitcoins were spent in total for a slice of cheesy heaven. Quite frankly, we can’t think of anything better to spend it on!

Bitcoin Has Been Sent Into Outer Space

Two years ago, Genesis Mining did that thing and sent bitcoin to space. Using a 3D bitcoin model and a bitcoin paper wallet tied to a weather balloon, the entire journey was recorded using nothing but a GoPro.

When the weather balloon reached an uneasy height of 20 kilometres, the ground team then made the transaction to the paper wallet. Once the wallet climbed to the maximum possible altitude of 34 kms, another transfer was made.

Even though bitcoins don’t grow on trees, there are numerous other interesting things to know about bitcoin. After all, who knew that pizza was the first thing purchased using bitcoin? We certainly didn’t!

icytales.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here