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Founded in 2009, Bitcoin is the first-ever cryptocurrency. Although it is the most popular digital currency, there are still some things you do not know about it. In this article, we’ll be discussing seven interesting Bitcoin facts you should know.
Interesting Bitcoin Facts You Should Know
1. The Creator of Bitcoin is Anonymous
You must have heard the creator of Bitcoin, Satoshi Nakamoto. Fun fact; nobody knows who Satoshi Nakamoto is. That might not even be their real name. Over the years, there have been a lot of speculation and theories about who Nakamoto is. Various people have claimed the name and title but have proven false.
2. The Smallest Unit of a Bitcoin is Called a Satoshi
In honour of the creator of Bitcoin, the smallest unit of Bitcoin is called a Satoshi. The current value of a satoshi as of this writing is $0.000232.
3. More Than 20% of Bitcoin Is Lost Forever.
More than 20% of Bitcoin is lost forever because they are trapped in crypto wallets that can no longer be accessed. Over 3,760,000 BTC can’t be used again, which is around $87 billion.
4. The Last Bitcoin Will Be Mined in 2140
It is programmed into Bitcoin’s code that only 21 million Bitcoins can exist. According to estimates, we will be able to continue mining them until 2140.
5. Bitcoin Is Banned In Some Countries
Despite several countries around the world that have wholeheartedly accepted Bitcoin, some haven’t. Some countries have actually banned the usage of bitcoins. Also, there are countries that have asked their citizens to be careful when they use cryptocurrencies but do not accept them as legal tender.
6. First Bitcoin Transaction Was a Pizza Order
On May 22, 2010, Laszlo Hanyecz bought two pizzas for 10,000 BTC. It was the first ever real-world bitcoin transaction as it was only a year after the launch of the cryptocurrency. Bitcoin did not reach a one-to-one ratio with the US Dollar till 2011.
7. Bitcoin Works Faster Than Supercomputers
The Summit is the world’s fastest supercomputer and works at 122.3 petaflops, which is a quadrillion floating-point operations per second.
The Bitcoin network on the other hand has a processing power of about 80,704,290 petaflops. But a supercomputer can do numerous things, while the only thing the Bitcoin network does is add blocks to the blockchain.
Read Also: 5 INTERESTING ETHEREUM FACTS YOU SHOULD KNOW
We hear about different things every day and divulge new information about Bitcoin and crypto, in general, every day so it might seem that we know all there is to know at this point.
But there are many interesting facts that are unknown to us about the crypto ecosystem.