Now cryptocurrencies are revolutionizing the entire world economy because it is easy to use and eliminating too much paper works also with it’s more features.
Do you know? Cryptocurrencies market capitalization crossed $200 billion marks… Yes, stock market hades trillions of market capitalization but cryptocurrencies growing rapidly.
Being a rapidly growing industry with such good features, cryptocurrency also has some interesting and funny and crazy facts too.
So look at some crazy facts about cryptocurrencies.
Ok, let’s start with Bitcoin because bitcoin is one of popular and well-known cryptocurrency.
- Bitcoin is created by Satoshi Nakamoto but no one knows who is he/she and it is still a mysterious thing, but Satoshi active in Bitcoin talk forum during 2009 and 2010 period when bitcoin is just created.
- On January 2018, Satoshi Nakamoto owns 16.5 billion dollars worth of bitcoin that makes him/her 44th richest person on the planet!.
- In 2015 Satoshi Nakamoto nominated for Nobel prize in Economics and Science.
- Some even suggest that Samsung, Toshiba, Nakamichi, and Motorola together created Bitcoin.
- Bitcoin transactions are measured by Satoshis, like for example 1 Satoshi = 0.00000001 Bitcoin.
- If you invested $100 in July 2010 on Bitcoin it’s now become 18.8 million worth.
- Erik Finman is one of the world’s youngest bitcoin millionaires, he is an American lad who dropped out of high school early and decided to start investing in Bitcoin when it was worth $12. He now owns 403 Bitcoin, worth around $1.09 Million.
- On May 22, 2010, a programmer purchased two large Papa John’s pizzas for 10,000 bitcoins, at that time it was worth about $30, after that every year May 22 called as Bitcoin Pizza day.
- Refund is not possible on Bitcoin. In 2016 a Bitcoiner accidentally sent $137,000 instead of $5 with no way to retrieve it.
- James Howells, an IT worker living in the United Kingdom, lost 7,500 Bitcoins by throwing his hard drive which amounted to more than $127 million!.
- Warren Buffet has been a critic of Bitcoin including Jamie Dimon, the CEO of JP Morganchase.
- Kidnappers in Ukraine released a Bitcoin analyst after a British company paid 1 million in Bitcoins as ransom, on December 30, 2017.
- Austin Craig and Beccy Bingham made a documentary on how they lived 90 days on just bitcoins in 2014 and it became a popular documentary named as “Life on Bitcoin”, you can watch the trailer from below.
- Bitcoin Network is more powerful than the 500 supercomputers.
- The University of Nicosia Cyprus was the first university to accept tuition fees in Bitcoin.
- Japan is famous for cryptocurrencies because since 1st April 2017 bitcoin is a legal payment method in Japan and they’re more than 300,000 stores accepts Bitcoin in 2017.
- Also, Japanese Yen accounts for more than 50% of Bitcoin trading market.
- Bitcoin is VAT free in Switzerland. Falcon, a Swiss private bank is the first bank to sell bitcoins to its clients.
- In 2014 CBT, Finland exempt Bitcoin from the VAT and treats like a commodity.
- From January 2018 Chissano Switzerland will accept taxes in bitcoins.
- Bitcoin production is limited to 21 million this limit is expected to reach in 2140.
- Once all Bitcoins have come to existence, transaction fees can drive miners.
- Bitcoin is illegal in Saudi Arabia, Bangladesh, Bolivia, Ecuador, Kyrgyzstan, Morocco, Algeria and Nepal.
- Microsoft, Dell, Expedia, Dish Network, Overstock, Lamborghini these are some big companies accept Bitcoin payments.
- Theoretical space travel adventure clubVirgin Galactic accepts Bitcoins.
- By October 2108 there were 3,150 Bitcoin ATM’s operating worldwide in 70 countries.
- North America has over 80% off all Bitcoin ATM’s.
- Alphabay phisher and Phishkingz made 1million in 14 months by stealing Bitcoins.
- One Bitcoin transaction consumes as much energy as your house uses in a week that’s equal to 3,994 times more energy than a credit card transaction.
- As of November 2017 total Bitcoin mining consumes 0.13% of global electricity.
- China owned 81% of the world’s mine pool. Bitmain’s Antpool mined 25% of the block generated if you interested you can check out some top cryptocurrency mining pools.
- 90% of all Bitcoin address has less than 0.1 balance.
- The largest block mined on Blockchain network while using SegWit has a capacity of 2.1 MB. The capacity of a normal block is less than 1 MB.
- Bitcoin exchange Mt.Gox was hacked twice and 850,000 ($700 million) BTC were stolen this was one of biggest Bitcoin hacks ever.
These are some Crazy Bitcoin Facts.
There are over 1,500 cryptocurrencies exist in the market but only a few crossed the billion dollar market capitalization mark and Bitcoin is one of the most important cryptocurrency because of these reasons, that’s why bitcoin facts are important to know and they crazy too.
But here are some other facts excluding Bitcoin.
- No single entity or government can control cryptocurrencies.
- The blockchain is a digital and decentralized ledger that records payment and transfer transactions in a safe and efficient manner.
- Cryptocurrency transactions are transparent and anyone in blockchain can see the transactions.
- Each transaction on the blockchain needs to be verified first in order for the network to operate that’s why mining involves using powerful computers to verify transactions.
- Blockchain has other benefits too.
- After 2018 Argentina G20 summit, 11 countries considered cryptocurrency legitimate, 3 remained neutral in this matter, 4 restricted the use of crypto.
Image source coinvestasia.com
- 200 organizations have joined the Enterprise Ethereum Alliance to test out a version of Ethereum’s blockchain in small-scale projects.
- Cryptocurrencies price always highly volatile if you think why? here In this post, you can find out some answers.
- Some survey conducted about cryptocurrency awareness in people, in those surveys they found that 80% of American students were unaware of Bitcoin. Another poll found that only 30% of people were aware of Ethereum. Also, 74% of people had never heard of initial coin offerings.
- Venezuela became the first country in the world that launched its own cryptocurrency called Petro back in February 2018.
These are some facts about cryptocurrencies but also Cryptocurrencies are considered by many as the most revolutionary breakthrough of the 21st century after the internet.
Cryptocurrencies are not only revolutionizing payment industry they also help people to live an easy life.
Ok, these are some Crazy Cryptocurrency facts that I know if you know more facts, then make a sure comment below.
And do not forget to share this post with your crypto enthusiastic friends.