50 Bitcoin Facts You Need To Know

50 Bitcoin Facts You Need To Know

  1. Satoshi Nakamoto – The pseudonym of the creator(s) of Bitcoin.
  2. 2008 – The year Bitcoin was invented by Satoshi Nakamoto.
  3. January 12, 2009 – The first Bitcoin transaction. Satoshi Hal Finney..
  4. 1 million – The number of Bitcoins thought to have been mined by Satoshi Nakamoto in the currency’s early days.
  5. Mystery Man? – Numerous attempts have been made to find out the true identity of Bitcoin’s creator(s).
  6. Five years – The time taken for a single Bitcoin to go from $0 to $1,000 (£613).
  7. 3,600 – The approximate number of new Bitcoins ‘mined’ each day.
  8. Litecoins – A competitor to Bitcoin, which uses different ‘tech’ for mining.
  9. More than 20,000 – The number of computers working at mining new Bitcoins.
  10. 21 million – The maximum number of Bitcoins that can ever exist.
  11. 2041 – The year the last remaining Bitcoins will be supposedly mined.
  12. 64% – The amount of Bitcoins sitting in accounts that haven’t been touched since the currency began.
  13. 31,000 – The number of lines of computer code behind Bitcoin.
  14. Coins – Physical Bitcoins began to be marketed in 2011 by a company in the United States.
  15. Shut down – The minting company behind physical Bitcoins shut up shop after the US Treasury got wind of its actions.
  16. Alderney – The first jurisdiction to announce plans to mint physical Bitcoins.
  17. History – Unlike regular money, each Bitcoin has a detailed history, which makes it hard to fake or replicate.

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  1. Theft: A journalist from Bloomberg was given a Bitcoin on live TV in December 2013. It was promptly stolen by a viewer.
  2. £4.6m ($7.5m) – The value of Bitcoins stored on James Howells’ hard drive when he accidentally threw it away, sending it to a Welsh landfill in 2013.
  3. £17 ($28) – The original value of Norwegian Kristoffer Koch’s Bitcoin investment, which by the time he remembered he’d bought it, was worth more than £500,000.
  4. Jet Li – The actor whose charity received a donation in Bitcoin, bringing the currency to the attention of China.
  5. WikiLeaks – The whistleblowing website turned to Bitcoins for donations after the leading money transfer companies refused to deal with it.

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  1. Vancouver – This Canadian city boasted the world’s first Bitcoin cash machine.
  2. Exchange rates – Some leading currency exchange websites list Bitcoin alongside other currencies.
  3. Thailand – This country became the first to outlaw Bitcoin. It did so in July 2013.
  4. Argentina – This country saw a surge in Bitcoin when its own currency saw massive inflation.
  5. 80% – The percentage of its value Bitcoin has been known to lose in just a few days.
  6. Gold – A single Bitcoin briefly became more valuable than an ounce of gold in November 2013.
  7. $1,250 (£764) – Bitcoin’s all time high value, which it hit in November 2013.
  8. $7 (£4.30) – Bitcoin’s lowest value in recent years. It sank to this level in August 2011.
  9. 4 cents (2p): The value of a Bitcoin in early 2010, a year after its launch.

 

  1. Dread Pirate Roberts – The pseudonym of the operator of the Silk Road website, who reportedly took seven percent of all of its Bitcoin sales.
  2. Ross Ulbricht – The man arrested on suspicion of running the Silk Road, and amassing a fortune in Bitcoin through its illegal activities.
  3. 5% – The percentage of the world’s Bitcoin owned by the FBI, following the closure and seizure of the Silk Road online marketplace.
  4. 80% – The amount of Dread Pirate Roberts’ Bitcoins not yet seized by American authorities.
  5. 5% – 5% – The percentage of Bitcoin’s economy believed to have been made up by the Silk Road before it was closed down.

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  1. Lamborghini – The first car company to accept Bitcoins in exchange for cars.
  2. Kreuzberg – A part of Berlin that has established itself as a Bitcoin-friendly shopping area.
  3. 2012 – The year Manchester’s first Bitcoin-friendly retailer – an average corner shop – began using the currency.
  4. Space – The furthest place you can travel using Bitcoins thanks to Virgin Galactic.
  5. Mel B – The former Spice Girl became the first musical artist accepting Bitcoin as payment for her music.
  6. Limousines – Can be hired in certain areas of the US using Bitcoins.
  7. Pizzas – Can be bought in the Netherlands using Bitcoins.
  8. China – Banned banks from trading in Bitcoin in December 2013.
  9. 200,000 – The lowest amount of Bitcoins that are used in transactions each day.
  10. 10,000 – The number of Bitcoins one man swapped for a pizza in 2010. Those 10,000 Bitcoins would be worth more than $7m (£4.28m) in December 2013.
  11. Black Friday: More than 200 businesses held a Bitcoin ‘Black Friday’ sale event in the 2013.
  12. House sale: A man in New York put his house up for sale in December 2013 for $799,000 (£488,000)… or the equivalent in Bitcoins.
  13. OKCupid: This dating site allows you to meet your potential loved one – it also accepts Bitcoins.
  14. Sandwiches: Can be bought with Bitcoins at a single branch of Subway in the United States.