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Cryptocurrency is one of the astonishing phenomena leveraged by Blockchain technology. Blockchain has shown us that banks are not the only platform that can deal with our money and transactions; there is also digital currency.
Now it’s not necessary to have a bank account. Still, with the help of internet connections in your smart devices, you can mitigate any transaction-related issues with more reach and possibility.
Over 200 countries are using Cryptocurrency but still unknown to many. Blockchain has the power to transform various industries, from healthcare to finance. The first Cryptocurrency was marketed in 2009, Bitcoin, and since then, there has been no going back.
If you consider Bitcoin too, you may want to know some interesting facts about it. But unfortunately, not everyone is aware of it, and moreover, there are some astonishing facts that you may want to acknowledge before considering the process.
Amazing Facts On Bitcoin
Around the world, many amazing things are happening that we do not know. But when it’s about Bitcoin, we need to know about it because we are giving through a technological revolution where blockchain is playing and going to play a big role.
We don’t know the future of Bitcoin, but with these amazing facts, we will gather enough information to deal with our basic knowledge of it.
If you are curious about the world’s first Cryptocurrency, follow the facts below.
The Mysterious Creator
If you are curious about Bitcoin, you should know its creator. We are not sure if it is a person or a group of people, but we just know the name: Satoshi Nakamoto.
There was no direct contact with this person (or group) except through some emails and forums. But more mysterious is that after 2010 there is no sign of Satoshi Nakamoto.
You will be astonished to know that Satoshi Nakamoto’s Bitcoin wallet holds almost 980,000 bitcoins which probably makes him (or his group) the richest in the world.
20% Of Bitcoin Has Been Lost
According to the crypto data firm Chainalysis, almost 20% of Bitcoins are stuck in forgotten wallets, and some are lost already. This particular percentage suggests 3.76 million BTC, which is worth $190 billion of loss.
You might be wondering how Bitcoin can be lost like this.
Well, there are various ways to support this fact. Among those facts we have already discussed earlier: Satoshi Nakamoto vanished and the wallet as well (1.1 million BTC).
Apart from that, some people passed away without sharing their wallet access. In addition, some lost their keys to their wallets. Bitcoin keys work like bank pins, but unfortunately, there is no “forget password” suggestion in the Crypto process.
Bitcoin Is A Legal Tender In El Salvador.
On September 7, 2021, El Salvador, a country in Central America, accepted Bitcoin as a legal tender. With this move, their president Nayib Bukele fell under huge controversy. However, he announced that Bitcoin is added to their financial process, but it will not replace dollars.
They have also decided to provide $30 per person who opens a national digital wallet.
Though most El Salvadorians are against it, and also the World Bank refused to help them in implementing the process for transparency and environmental concerns.
Bitcoin Supply Will Run Out By 2140
Do you know that Bitcoin is limited?
Yes, you heard it right, and only 21 million Bitcoin can be produced in total. Among all, 18.8 million Bitocin is already produced, and some of those are lost as well.
So, only 2.2 million Bitcoins are left to mine as it only considers the particular coin’s code or DNA.
However, you might ask why it will take another 120 years to fish in mining by 2140.
This is because every four years, the number of Bitcoin-minded halves.
Pizza Was First Bought Through Bitcoin.
The first commercial bitcoin transaction was made in 2010, when Laszlo Hanyecz bought only two pizzas by paying 10,000 BTC. Well, it was $41 million then but now?
Its worth is almost $157 million.
This is why this purchase will remain in the folklore of Bitcoin.
What about you?
Do you want to go with Bitcoin?
Well, you can by considering a prominent platform like the bitcoin era.
But make sure that you are well aware of the current Bitcoin trends and facts. Focus on the current market and understand the risks. Do not just depend on these interesting facts, but rather be practical to choose your new Bitcoin.
Disclaimer: This article is not intended to be a recommendation. The author is not responsible for any resulting actions of the company during your trading/investing experience.
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