10. The FBI Is Among the Richest Bitcoin Owners
Cryptocurrencies such as Bitcoin are extremely useful to criminals on the internet. Thanks to this new technology, they can anonymously transfer money for, for example, their drug trade. These deals mainly take place on the dark web, where the point is that no one can track down and stop the drug dealers. Nevertheless, the FBI succeeded in breaking up several large networks (including “Silk Road) where drugs were traded online.
The large use of Bitcoin within this group allowed the FBI to immediately seize a large amount of this currency. This organization has acquired and now owns several wallets with a value of 30,000, 96,000, and even 144,000 Bitcoin. This makes the FBI the number two richest Bitcoin holder in the world.
9. A Bitcoin Transaction Consumes Enough Energy For Three Households
You would say that trading Bitcoin would be an effortless process as everything takes place online. Yet mining and trading this currency has become incredibly complex over the years. That means that it also takes a lot of energy to get the coin.
It has been calculated how much energy that is today: no less than 94 kilowatt-hours per transaction. This amount of energy is enough to power more than three households a day. Mining and trading Bitcoins is therefore certainly not as simple and fast as it seems.
8. The Largest Transaction Was Worth $147 Million
In 2013, the largest transaction in Bitcoin to date took place. Due to the nature of this currency, it is possible to verify every transaction, although the senders and receivers are anonymous. This transaction contained exactly 194,993 bitcoins and at that time had a value of at least 147 million dollars, which can be converted to almost 125 million euros.
The transaction was accompanied by a message: “Sh*t Load of Money!”. Because the transactions were all anonymous, people started speculating who was responsible for this unprecedented payment in Bitcoins. The two individuals many people still associate with this payment today are Bitcoin founder Satoshi Nakamoto and wealthy businessman Richard Branson.
7. What Was Worth $100 in 2010 is Now Worth $100 Million
Investors know that money trading is mainly about risk. It is therefore easy to say afterward that you could have been rich by trading Bitcoin. Still, there are a few lucky ones who were curious enough in 2010 in this cryptocurrency to invest 100 dollars. That risk has been rewarded because over the years the value of Bitcoin has increased enormously.
Today, that hundred dollars would have grown to a whopping $100 million in value, which is an almost unprecedented increase in value. One of these lucky ones is Kristoffer Koch. He bought some Bitcoins in 2009 as research for his thesis. A few years later, he remembered that he had Bitcoins in his wallet and suddenly turned out to have hundreds of thousands of dollars in his possession.
Keeping Bitcoins safe is your own responsibility. This can be done on your own hard drive in a so-called ‘wallet’ or on a special ‘ledger’. Backups, and especially the storage of the private key, are essential because a broken hard drive can mean that the bitcoins are lost forever. Fortunately, there are more and more possibilities in the field of data recovery. So if you still have bitcoins on a broken disk, it may be possible to restore the hard disk.
6. Thanks To The “BlockChain” Bitcoins Cannot Be Spent Twice
The big problem with fiat money is that this money form is very sensitive to fraud and inaccurate spending. If the database is not in order, it is, therefore, possible to spend the same coin twice. This is because the information about the transactions is not linked to the currency. This is the case with Bitcoin, in the form of a so-called “BlockChain”.
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This database keeps track of every transaction that is made with Bitcoins. Because there is no central point where this information is stored, it is no longer possible to spend a coin multiple times before the system realizes this. This makes Bitcoin one of the more reliable cryptocurrencies because you can only spend money that you actually have.
5. Bitcoin in Space
More and more people are convinced of the value that Bitcoin can offer. This cryptocurrency can go very far, and they are only too eager to prove it. That is why the Bitcoin company Genesis Mining has decided to send a Bitcoin into space. They achieved this by releasing a weather balloon with a 3D model of a bitcoin on it.
Their goal was to reach an altitude of twenty kilometers. Once the balloon was at this level, it was time to send a bitcoin from Earth to the balloon. With this, the luck was to bring the first Bitcoin to space. The balloon did not stop at an altitude of twenty kilometers but went so far as to reach 34 kilometers. To celebrate this milestone, the company decided to send another Bitcoin to the balloon just for fun. That is really achieving high heights.
4. The Hardware of All Bitcoin Users is a Thousand Times Faster Than That of The Top 500 Supercomputers
Bitcoin is a system that works because miners around the world work together to keep the cryptocurrency safe and active. They help with their hardware to keep the transactions safe and are paid as a reward in what can eventually become a Bitcoin. Because people all over the world are active with Bitcoins, a lot of computing power is involved in this currency.
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It has been calculated exactly what this power is, and that came to a strength that was 11,000 times more than that of 500 supercomputers combined, this was in 2015. In 2013, this was ‘only’ 256 times faster. These facts provide a nice insight into the impact that Bitcoin has on the online world.
3. There is a Limit To Bitcoins
Many people who are not very familiar with the concept of cryptocurrencies will think that there is in fact an unlimited amount of Bitcoins. There is in fact no international bank that can limit the printing of money, as this currency only exists online. However, there is a limit to the number of Bitcoins that can be mined, namely 21 million. The coin is created by users finding a block.
The developers of this coin have determined that an average of six blocks can be discovered per hour. Once 210,000 have been discovered, this frequency is reduced by half. As a result, Bitcoin’s growth is slowing down and the last coin is expected to be discovered in 2140. It is therefore becoming increasingly difficult for traders to get new coins into their wallets,
2. The First Bitcoin Transaction in The “Real World” Was Good For Two Pizzas
Since Bitcoin is an online currency, it goes without saying that this currency is mainly used on the internet. For a long time, this was also the case because Bitcoin was not yet established enough to get companies to accept the currency. However, this first real-world transaction took a little detour. During the early days of Bitcoin, the coin was not worth nearly as much as it is today, leading a user to pay 10,000 Bitcoins to another user, who ordered two large pizzas from Papa John’s in exchange for the coins.
Today, 10,000 Bitcoins would be worth much more than just two pizzas, because, with Bitcoin’s inflation, this user would have paid a whopping $40 million for his pizza. This strange transaction will go down in the books as the first purchase in a store with Bitcoins.
1. Nobody Knows Who The Founder of Bitcoin Is
If you wonder who invented Bitcoin and set up this international system, you will come across the name Satoshi Nakamoto. He is known to everyone as the founder of Bitcoin, but no one knows who he really is. His real name, age, and origin are not known to any user of the currency and are a great mystery to many users. Some people have researched and assume that the founder is an American or even a British man.
His name suggests that he is from Japan, but since no Japanese characters are ever used in his encoding, this does not appear to be the case. One thing is certain: the inventor of this cryptocurrency owns almost a million Bitcoin and is, therefore, a billionaire with at least 4 billion dollars.