Some interesting facts about BITCOIN

May 21, 2018 0 By TricksHero

Bitcoin is a decentralized digital currency which was initially released on 9 Jan 2009. Here are some interesting facts about bitcoin.

#1 Bitcoin created by an anonymous legend Satoshi Nakamoto. He was nominated for a Nobel prize in economic science in 2015. As of Jan 3rd of 2018 he owns $16.5 Billion in Bitcoins.

#2  Government has no control over the bitcoin currency.

#3 As of January 2018 around 17.04M BTC are in circulation and it is limited to 21 Million.

#4 From March 2015 to Feb 2017 Bitcoin transaction fees are up by 1289%.

#5 Bitcoin market cap is $381 Billion as of May 2018.

#6 It came to popularity in 2017 when it went up to $19497.40 starting from $973.91 in the year 2017.

#7 Two big bitcoin exchanges Mt.Gox in 2014 and Bithumb in July 2017 have been hacked.

#8 SatoshiDice first big Bitcoin acquisition with 126,315 Bitcoins in 2013.

#9 Nakowa won 11,000 BTC on a gambling site (net worth was $1.3 in 2013 as of May 2018 it is $92 Million)

#10 BITCOIN PIZZA DAY on May 22, 2010 two pizzas cost 10k BTC. By May 2018 their worth was up to $84M.

#11 James Howell lost 7,500 Bitcoins by throwing his hard drive which amounted to $63 M.

#12 Bitcoins transactions are measured in Satoshi/byte. 1 SATOSHI = 0.00000001 BITCOIN.

#13 Number of bitcoins rewarded for mining halves EVERY 4 YEARS. After 64 halvings all 21M Bitcoins will be in circulation.

#14 A new block of coin is solved EVERY 10 MINUTES.

#15 SHA256 A cryptographic hash function is used in bitcoin address creation.

#16 Bitcoin network is more powerful than 500 SUPERCOMPUTERS PUT TOGETHER.

#17 Refunds are not possible on bitcoin transaction. In 2016 INSTEAD OF $5 a person accidentally sent $137,000   with no way to retrieve it.

#18 THE 21M BITCOIN LIMIT is expected to reach by 2140.

#19 UNIVERSITY OF NICOSIA CYPRUS was the first university to accept tuition fees to be paid in BTC.