Guide

Bitcoins: Interesting Facts that You Need to Know

Bitcoin is undeniably the most popular and most reliable cryptocurrency in the world. Aside from the fact that it was the first cryptoccurrency ever created, Bitcoin also provides wide variety of benefits to its users. There are also a lot of interesting facts and information about Bitcoin that a lot of people don’t know yet. If you are a Bitcoin owner, it is important that you are knowledgeable about Bitcoin for you to be able to easily understand its value and benefits. As such, this article will provide you some of the interesting facts about Bitcoin.

Pizza: The first Bitcoin Purchase

There is a reason behind the celebration of Bitcoin Pizza Day every 22nd if May. This is because when bitcoins when mined, they had no value digitally as it cost only cents for an owner to buy a BTC. But eventually, when someone bought something with bitcoin, the value of this cryptocurrency has changed. 7 years ago, someone purchased 2 Pizzas using bitcoins and this transaction was a big deal because there were no retailers that accept bitcoins during that time. But on May 22, 2010, 2 pizzas from Papa John were exchanged by Laszlo Hanyecz for 10,000 BTC. Hence, this has been considered as the first official documented purchase of goods using bitcoins.

Bitcoin’s Investor: Mystery

Yes, bitcoin is definitely one of the most popular cryptocurrency but the inventor of this digital money is still unknown even up to this day. Since Bitcoin started tio gain popularity, there have been so many specualtions about who the inventor of bitcpoin is. Bitcoin was made open to the public under the pseudonym of Satoshi Nakamoto. There are also some people like Craig Wright who is an Entrepreneur who claimed that he is the real inventor of Bitcoin.

Bitcoin: Untraceable or not untraceable?

One of the unique characteristics of bitcoin and any other cryptocurrency in general is that when an owner transacts or use bitcoin to purchase anything, his or her name will not be used in any form. The only thing that will be availablemis your public address. Moreover, Bitcoin is also considered as a huge permanent ledger that promotes and values transparency. If anyone knows the public address of your Bitcoin, they will be able to know how many bitcoins you hold and what transactions you have made.

Private Key: An essential aspect of Bitcoin

If you own bitcoins, it is necessary that you are aware of the importance of your bitcoin private key. This will serve as your main passport to access your account. An IT guy named James Howells lost his 7,500 bitcoins in 2013. He accidentally threw away his hard disk containing the private keys of bitcoins, which he had mined in 2010.  Currently, his 7500 bitcoins is equivalent to about 19.4 million USD. So without your private key, your future in bitcoin will totally vanish. Hence, as an owner of bitcoins, you must always be very careful with your bitcoin private key.

In this bitcoin Era, it is not only necessary that you own a lot of bitcoins in the cryptocurrency world. It is also important to be aware and knowledgeable about the interesting facts and information about Bitcoin so you will be successful and safe at the same time.

 

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