Apr 29, 2019 at 2:04 pm UTC by Julia Sakovich · 2 min read
PlayCasinoOnline has gathered 101 interesting facts about Bitcoin and its history that will probably surprise you.
Once Bitcoin was known only for a very narrow circle of people, but now practically everyone is talking about it (maybe not using but talking for sure).
This digital currency was created in 2009 on the base of a decentralized network of nodes by a mysterious person (or a group of people) known as Satoshi Nakamoto who preferred to stay anonymous. Bitcoin was launched to function as a simple currency like the euro or the dollar.
For several years, experts and enthusiasts have been arguing whether this kind of digital assets will survive and thrive or its days are numbered. The first concerns on Bitcoin’s viability were sounded by a number of influential media in 2011, when a crypto exchange Mt. Gox suffered the first hack in its history.
The value of Bitcoin has changed dramatically throughout its life cycle. It is believed that the first Bitcoin cost just $0.00007 based on the price of electricity used for its generation. Nevertheless, we all remember its record height. Less than a year ago it was traded for nearly $20,000 which is over 275 mln more that the initial price!
In January 2018, it was announced that 80% of the entire Bitcoin supply had been already mined. So, it took 9 years to mine 80% of Bitcoins. Nevertheless, given the fact that the reward that miners receive for mining Bitcoin is halved every four years, more than 100 years will be needed to mine the other 20%.
The founder (or founders) of Bitcoin wanted to create a decentralized market. But the today’s reality is that two-thirds of Bitcoin issued is controlled by only 1,000 people which is only 1% of market participants.
Bitcoin is believed to be the most well-known and powerful cryptocurrencies in the world. But are there such people who really think that they know everything about it? Let us present to your attention 101 most interesting facts about Bitcoin that were prepared by PlayCasinoOnline. Enjoy!
Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.
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