Interesting facts about Bitcoin

By | May 20, 2021

The first Bitcoin purchase was for pizza

Initially, when bitcoins were mined they were virtually worthless as it cost literally cents to buy a BTC.
Two Papa John’s Pizzas were exchanged by Laszlo Hanyecz for 10,000 BTC.

The inventor of Bitcoin is still unknown

The Bitcoin whitepaper was made open to the public under the pseudonym of Satoshi Nakamoto. The identity of “Satoshi” is still a mystery yet to be solved.

Bitcoin is untraceable & Bitcoin is NOT untraceable

When making Bitcoin transactions, your name/identity is not used in any form. Only your public address is available.
The Bitcoin blockchain is a permanent ledger which is transparent. If anyone knows your Bitcoin public address, they can see how many bitcoins you hold and what transactions you have made.

If you lose your Bitcoin private key, you lose your bitcoins

Without the private key, the funds are lost forever no one can use them.
At this point in time, it is estimated that around 25% of all bitcoins have been forever lost.
At present, 16.3 million have already been mined and are being traded. The last bitcoin will be mined in 2140. After that, no new bitcoins can be mined.

There will only ever be 21 million bitcoins

Bitcoin’s supply is finite.
There will only ever be 21 million bitcoins.

bitcoin
bitcoin
YearPrice at the Start of YearPrice at the end of Year Growth in %
2010$0.0015$0.3120566%
2011$0.31$6.181893.5%
2012$6.18$13.44117.5%
2013$13.44$7515487.8%
2015$285$435.752.8%
2016$435.7$952.5118.5%
2017$952.5$2586171.57%

Bitcoin is considered by many as the most revolutionary breakthrough of the  21st century after the internet.

Numerous cryptocurrencies have come and left after Bitcoin. Some called themselves “rivals of Bitcoin” while some complemented Bitcoin.

As of 2021, the rough annualized return of Bitcoin over its lifespan is 200% per annum. That’s a doubling every 6 months.

Interesting facts about Bitcoin

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