Here are seven interesting Facts about Bitcoin:
- Bitcoin was created by an unknown individual or group of individuals using the pseudonym Satoshi Nakamoto. The true identity of the creator(s) of Bitcoin remains a mystery to this day.
- The first-ever Bitcoin transaction was made on January 12th, 2009, when Satoshi Nakamoto sent 10 Bitcoins to Hal Finney, a computer programmer, and early Bitcoin enthusiast.
- The total supply of Bitcoin is limited to 21 million coins. As of 2021, there are currently 18.7 million Bitcoins in circulation.
- The value of a single Bitcoin has been highly volatile since its creation. In 2010, the value of one Bitcoin was only a few cents. In December 2017, the value of a single Bitcoin reached an all-time high of nearly $20,000.
- Bitcoin transactions are recorded on a public ledger called the blockchain. This allows for transparency and security and ensures that the same Bitcoin cannot be spent twice.
- Bitcoin mining is the process by which new Bitcoins are created and transactions are verified on the network. It requires powerful computers to solve complex mathematical equations. Miners are rewarded with new Bitcoins for their efforts.
- Bitcoin has been used for a variety of purposes, including online purchases, money transfers, and as an investment. However, it has also been associated with illegal activities due to its ability to provide anonymity.
If you’ve been using Bitcoin for a while, you may know many of these. But if you’re new to Bitcoin, it’s always good to learn about the history and facts about cryptocurrency. Check out some of our other blog posts as well!