Interesting Facts About Bitcoin as a Cryptocurrency

Bitcoin is a cryptocurrency that seems to have a type of mystique around it. Not only does no-one know who developed it, but the system also feels like it is a ghost. Things happen fast and effective and it’s done. So, today we want to share some facts about Bitcoin. Most people know a little bit about it and others know almost nothing. So, here goes.

The developer is anonymous

No-one knows who developed the Bitcoin system and software. All we know is that it was released by Satoshi Nakamoto. We don’t even know if it is one person or a group.

It is used for illegal transactions

Because of the anonymity of transactions through Bitcoin, people have ceased the opportunity to make illegal transactions through this system. It is practically impossible to know who sent you the Bitcoins because the addresses given are just a string of characters.

There is a limit to Bitcoins

Bitcoins are not limitless. There is a 21 million dollar limit which means that in a few years, there will be no more Bitcoins to buy and sell. It gets harder and harder to mine Bitcoins the closer it gets to this limit.

The first purchase was pizza

The first thing that was ever bought with Bitcoins was pizza. It was probably a trial transaction and it worked. The pizza cost $25 and was equivalent to 10 000 Bitcoins.

The FBI owns a lot of Bitcoins

The FBI shut down operations at the Silk Road and confiscated all the assets of the owner. Part of these assets was a whole lot of Bitcoins. It is said that they probably have a wallet of about $120 million dollars in Bitcoins. This makes the FBI one of the wealthiest Bitcoin owners.

Bitcoins have a detailed history

The path of Bitcoins is tracked and its history is set in stone. That means that you cannot fake or replicate it. This is partly the reason why it is a secure way to do transactions.

There are many more fascinating facts about Bitcoins, however, we need to stick with these few. Share your favourite Bitcoin facts with us and we will put together another interesting facts article.