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Mind Blowing facts about Bitcoin

Top Amazing Facts About Bitcoin

Bitcoin is a trend of currency nowadays. It is not a real currency, but a type of cryptocurrency system. It is managed electronically and secured using cryptographic algorithms. It is overseen electronically and secured using a cryptographic chain network. Bitcoins have seen a tremendous growth in last 10 years.

Today, at FactWish, we have come with some of the less known facts about Bitcoin cryptocurrencies. Lets get started.

1. People still don’t know who developed the Bitcoin system.  Some say that “Satoshi Nakamoto” developed Bitcoin. Satoshi Nakamoto is an acronym for Samsung, Toshiba, Nakamichi, and Motorola.

Satoshi Nakamoto is an acronym for Samsung, Toshiba, Nakamichi, and Motorola

2. The SI unit of Bitcoins is Satoshi where one Satoshi is equal to 0.00000001 BTC.

The SI unit of Bitcoins is Satoshi where one Satoshi is equal to 0.00000001 BTC

3. Even if 500 supercomputers are combined, still they can’t beat the power of the bitcoin network.

Even if 500 supercomputers are combined, still they can’t beat the power of the bitcoin network

4. Almost 64% bitcoins have never been utilized, and may never get utilized.

Almost 64% bitcoins have never been utilized, and may never get utilized

5. Bitcoins are a type of cryptocurrency which means it is self-controlled. No government of any country has the power to control it.

Bitcoins are a type of cryptocurrency which means it is self-controlled.

6. There was a time in 2010 when 10,000 BTC were as equal as $41 US dollars. Today, it is enough to make you one of the richest people in the world.

There was a time in 2010 when 10,000 BTC were as equal as $41 US dollars

7. The first payment through bitcoins was done to buy a Pizza for 10,000 bitcoins. May 22 is this celebrated as Bitcoin Pizza day.

The first payment through bitcoins was done to buy a Pizza for 10,000 bitcoins

8. Only 807 individuals worldwide have ever announced their Bitcoin net worth for tax purposes.

Only 807 individuals worldwide have ever announced their Bitcoin net worth for tax purposes

9. If you lose your Bitcoin private key, you will lose your bitcoins. It utilizes the SHA-256 cryptography strategy.

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

10. The supply of bitcoins supply is very limited. Only 21 million bitcoins are producible, out of which 16.3 million have just been mined already.

Only 21 million bitcoins are producible, out of which 16.3 million have just been mined already

11. The last bitcoin will be mined in 2140. From that point onward, no new bitcoins can be mined.

The last bitcoin will be mined in 2140

12. Many tech giants such as Microsoft, Dell and Expedia officially accepts bitcoin as an alternate source of payment.

Many tech giants such as Microsoft, Dell and Expedia officially accepts bitcoin as an alternate source of payment

13. By 2017, more than 1500 ATMs have been made particularly for Bitcoin exchanges across 55 nations.

By 2017, more than 1500 ATMs have been made particularly for Bitcoin exchanges across 55 nations

14. People assume that bitcoin transactions are transparent. However, nobody has evidence to prove it.

People assume that bitcoin transactions are transparent. However, nobody has evidence to prove it

15. The bitcoin transactions are irreversible, unlike actual transactions.

The bitcoin transactions are irreversible, unlike actual transactions

16. FBI has one of the largest collection of bitcoins. Reports claim that 1.5% of the world’s bitcoins are owned by FBI.

FBI has one of the largest collection of bitcoins

17. There are seven types of bitcoin debit cards used mostly by business entities.

There are seven types of bitcoin debit cards used mostly by business entities

18. On average, 6 bicoins are mined every hour.

On average, 6 bicoins are mined every hour

19. Over 25,000 computers are involved in mining of bitcoins worldwide.

Over 25,000 computers are involved in mining of bitcoins worldwide

20. If a person buys a bitcoin, the price of all remaining bitcoins increases because of that. This is the reason regarding the exponential increase in the price of bitcoins as more people are investing in bitcoins now.

If a person buys a bitcoin, the price of all remaining bitcoins increases because of that

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