9 Interesting Facts About Bitcoin!

I am fairly new to crypto currencies and Bitcoin and have found these facts online. I think they will be useful and interesting for other people who are new or maybe even experienced in crypto currencies.

1. The founder of Bitcoin is someone known as “Satoshi Nakamoto.” No one knows who he is, what his real name is, or where he lives. As of 2017, he owns up to one million bitcoins which have an estimated value of $2.7 billion.

2. The first real-world transaction using Bitcoin was done to purchase two large, Papa John’s pizzas for 10,000 bitcoins. As of August 2017, that amount is now worth $27 million.

3. Unlike what most people think, bitcoins are not unlimited. The number of bitcoins in circulation will never exceed 21 million.

4. The global Bitcoin computing power is 256 times faster than that of top 500 supercomputers combined!

5. Bitcoin uses a public ledger called “block chain” for transactions. The invention of block chain made Bitcoin the first digital currency to solve the problem of double spending, an error in digital cash which allows the same token to be spent twice or more.

6. If you had invested $100 in Bitcoin in 2010, you’d be worth $72 million now.

7. The largest transaction ever made on the network was for 194,993 bitcoins. That was more than $147 million according to the effective rate in November 2013. The transaction was tagged “Sh*t Load of Money!”

8. Every bitcoin transaction, no matter how small, uses at least enough electricity to power three average homes for an entire day.

9. The FBI has the world’s largest Bitcoin wallets consisting seized bitcoins, apart from Satoshi Nakamoto.