7 Strange Facts About Bitcoin You Didn't Know

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3 years ago

Bitcoin is not just a digital currency. It is, in fact, an international sentiment that has contributed to a massive technological revolution. Thanks to this cryptocurrency, programmers are investing more than ever in understanding blockchain, and its benefits continue to pay off. The world that Bitcoin has created is incredible. Now people are talking about bitcoin mining options, talking about how to invest in bitcoin, and even talking about how blockchain can end world poverty.

1- In fact, a battle is going on about the future of Bitcoin

The main users of Bitcoin, who were mostly hackers, engineers and criminals, want to remain anonymous and rather avoid institutionalization; And now banks and companies are starting to see their profitability. In fact, what was initially suggested was that bitcoin was a tool for traffickers to escape the law without a trace. But with the spread of it, many banks and various institutions have now decided to make a profit from it.

2- The first financial transaction was made using Bitcoin for two pizzas !

did you ever think what the first bitcoin deal is? Believe it or not, the answer may surprise you. Many people think it was a drug deal or a gun deal. Although there are some things you did not know about Bitcoin, this answer is surprisingly useful. The world's first real payment using Bitcoin took place on May 22, 2010.

A developer who had invested in 10,000 bitcoins decided to spend them all on two pizzas from Papa John. The pizzas are said to be delicious, but in a way, we are willing to bet that the programmer may blame himself. If those 10,000 bitcoins were saved, they would be worth $ 82 million or more today.

3. The NSA knows who created the bitcoin

The NSA was very curious to find out who the founder of Bitcoin really was, so they discovered it on their own. Using hardcore analysis of Satoshi's writings, they were able to find the person behind the cryptocurrency. However, they never made his name public.

4- Losing your private key in Bitcoin means losing your bitcoin altogether

Bitcoin transactions are done using a public key and a private key. Your private key is a link that allows you to keep your Bitcoin wallet private and secure. Losing your private key will actually cause you to lose all your bitcoins and you will no longer be able to access your bitcoins on the network. It should also be noted that if someone has access to your private keys, they can easily access all of your bitcoins on the network.

5. Bitcoin created a vast mining industry

You may know that bitcoin mining can be profitable, and at one time you may even have thought of getting bitcoin mining hardware. But we have to say that the prices of mining machines are so high that they cost you millions. One thing you do not know about Bitcoin is that its mining price is rising and it is rapidly approaching the point where large mining companies are the only ones that can be profitable enough to be financially stable.

6. The Bitcoin network is currently more powerful than the best

Decentralization means that we can take advantage of the computing power of many different systems.A simple example: The world's 500 most powerful computers have the combined computing power of a quarter of an exaFLOP, which in itself represents the high power of bitcoin as a decentralized network.

7. Bitcoin consumes more electricity than you think

Bitcoin mining involves a lot of energy. In fact, this is why people are worried that bitcoin mining will destroy the environment. What you may not realize is how much energy each small bitcoin transaction can require. A single transaction with bitcoin is very complex, a single transaction takes enough energy equivalent to provide power of three houses. Even if you are a miner, this is one of the things you do not know about bitcoin.

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