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Author Topic: 40 Interesting Facts About Bitcoin You Don't Know  (Read 377 times)
icium
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October 09, 2018, 11:09:40 AM
Merited by OgNasty (1), krogothmanhattan (1), DdmrDdmr (1)
 #1

Bitcoin and the Blockchain technology behind it can come to most people as a complex and difficult to understand technology. However, some famous experts and analysts make this technology and crypto money understandable.

Here are the words that best describe Bitcoin and Blockchain:

Vitalik Buterin (co-founder of Ethereum)
“Most technologies automate employees so that they can do simple tasks, while Blockchains create a automation process where the center is not available. Blockchain technology allows the taxi driver to do business directly with the customers, instead of dismissing the taxi driver.”
Bob Greifeld (Former Nasdaq CEO)
“I believe that Blockchain technology can make fundamental changes in the infrastructure of the financial services industry. Swap rooms are a great invention, but if you have a reliable public book, you can go back to a world of two-sided trading and process payments instantly. Currently, payments are credited 3 days after the transaction date. Why not pass in 5-10 minutes?”
Al Gore (Former US Vice President)
“In my opinion, it is very important that an algorithm in the Bitcoin universe replaces government functions. I'm a big fan of Bitcoin.”
Sir Richard Branson (founder of the Virgin Group)
“I believe the potential because I invested in Bitcoin, the capacity it has to transform global payments is very exciting. We are quite satisfied as a general approach adopted by people, as clearly seen for all of us. Great payment networks: There is a real desire for more control, freedom and level of scrutiny about what is in our money, Bitcoin is addressing these concerns and so many people believe that it represents the future.”
Dr. Eric Schmidt (Former Google CEO)
“Bitcoin is a remarkable success in cryptography and it is very valuable to create something that cannot be copied in the digital world. Extremely useful for many computer application.”
Peter Thiel (Entrepreneur and venture capitalist)
“I doubt against most of the crypto coins. People are scornful of Bitcoin, especially because they resemble reserve currencies. It's just like gold, because they see it as a value storage tool. You don't have to use Bitcoin to make payments. However, if Bitcoin is to be the cyber equivalent of gold, it still has a great potential. Bitcoin can be digged like gold, but it's also hard to dig under Bitcoin. And more limited in this sense.”
Bill Gates (founder of Microsoft)
“Bitcoin is a technological show of power.”
James Gorman (CEO of Morgan Stanley)
“Bitcoin is definitely more than just a joy. Very interesting concept of an anonymous money. Interesting because of the answer to the control power of the central banking system, interesting because it provides privacy protection to people.”
Edmund Moy (former director of the US Mint)
“As an exchange tool, Bitcoin offers many unique innovations to the money: global nature, infinite divisibility and easy to carry.”

Bitcoin is known as a crypto-currency that has broken almost all economic norms so far. We know that you can find a lot of facts online about how to use Bitcoin, where to buy Bitcoin, and how to use Bitcoin, but what you don't know?
As we are icium.org , we have read, researched and tried to compile 40 interesting facts about Bitcoin.

Here are 40 interesting facts about Bitcoin you do not know!
1.   Mining pools in China constitute 70% of all pools in the world.
2.   Bithumb is the 4th largest stock exchange in the world and has suffered a cyber attack in July 2017, causing billions of dollars to lose.
3.   In May 2010, you could buy only 2 pizzas with 10,000 Bitcoins, and now there are 20 million pizzas.
4.   Bitcoin transfers are non-refundable.
5.   The unit of Bitcoin transfers is defined as Satoshi / Byte. 1 Satoshi = 0.00000001 Bitcoin.
6.   James Howell lost about 7500 Bitcoins because of his hard drive, which is worth £ 4 million.
7.   Each new block is dissolved in 10 minutes and gives approximately 6 Bitcoin awards.
8.   Unlike other currencies, Bitcoin has a system of relevance and is based on mathematics.
9.   The value of Bitcoin has increased by 879,999 times from 2010 to 2017.
10.   64% of Bitcoins are never used and will never be used.
11.   America's Federal Bureau of Investigation, or the FBI, has a 1.5% stake in all Bitcoins in the world.
12.   5% of all Bitcoins are actively used in the deep web platform called Silk Road. Silk Road is generally known as the market where dark and illegal shopping on the internet is made.
13.   All Bitcoin transmissions have a transparent property and can be viewed from the block chain.
14.   As of July 2017, 16.4 million Bitcoins were involved in the circulation in the market.
15.   The 4000th Bitcoin was donated to Wikileaks from December 2016.
16.   The computing power of the bitcoin network is greater than the computing power of 500 super computers.
17.   In 2016, when an individual wanted to send 5 dollars, he transferred close to Bitcoin by approximately 137,000, and could not get it back.
18.   17 million Bitcoins is expected to be used in about 10 years.
19.   21 million Bitcoin, 2140 is thought to be completely mines.
20.   Alphabay Phisher Phiskingz claims he stole $ 1 million worth of Bitcoin every 14 months.
21.   Satoshi Nakamoto is the name of creator of Bitcoin.
22.   Nakamoto is thought to have about 1 million Bitcoins. The approximate equivalent of this amount is 5.5 Billion dollars.
23.   Bitcoin can never control any institution, organization or state.
24.   Bitcoin actually has a limited number, which is 21,000,000.
1% of the Bitcoin community controls 99% of world welfare.
25.   69% of world banks are currently conducting technological experiments related to the “block chain.”
26.   MT Gox, the largest Bitcoin stock exchange of the world at the time, collapsed in 2014 and led to a 40% reduction in prices.
27.   Using a bank's block chain technology can save around $ 10 million a year.
28.   Only 807 people in the world have announced that they have earned money with Bitcoin, the reason for this is tax sanctions.
29.   There are 7 credit cards in the world based on Bitcoin.
30.   The world's first Bitcoin monetization was around US $ 11 million, equivalent to 126,315 Bitcoins. This phenomenon is also called SatoshiDice.
31.   A person named Nakowa won 11,000 Bitcoins from an Bitcoin Casino. At that time, although this is about 1.3 million US Dollars, this money is now equivalent to $ 47 million.
32.   The Swiss state defined the concept of crypto-money as foreign currency.
33.   The number of enterprises accepting Bitcoin increased from 36,000 to 82,000 in 2014.
34.   Microsoft, Dell and Expedia are some of the well-established companies that accept Bitcoin as payment.
35.   Bitcoin is illegal in Vietnam, Bolivia, Kyrgyzstan, Iceland, Ecuador, Bangladesh and Thailand.
36.   The University of Nicosia in Cyprus is the first university in the world to receive school payments with Bitcoin.
37.   You can win extra bitcoins by playing Blockchain bitcoin online casino
38.   There are 1354 ATMs in the world where you can get Bitcoins. These are distributed among 55 countries with 21 ATM producers and 231 operators.
39.   Belgium applies Value Added Tax (VAT) to Bitcoin.
40.   About 17 million Bitcoins is expected to be used in about 7 years.
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October 09, 2018, 01:07:44 PM
 #2

Very interesting facts indeed! if you have collected those in any online research, it worth that time and labor.
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October 09, 2018, 01:13:57 PM
 #3

Thank you for sharing, there are still many facts that I don't know.
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October 09, 2018, 01:29:18 PM
 #4

3.   In May 2010, you could buy only 2 pizzas with 10,000 Bitcoins, and now there are 20 million pizzas.
The deal was for one pizza but the guy delivers two

4.   Bitcoin transfers are non-refundable.
They are if you double spend it to the same addy

5.   The unit of Bitcoin transfers is defined as Satoshi / Byte. 1 Satoshi = 0.00000001 Bitcoin.
Only satoshi, not satoshy/Byte

7.   Each new block is dissolved in 10 minutes and gives approximately 6 Bitcoin awards.
Wrong! the block reward is 12.5 BTC

12.   5% of all Bitcoins are actively used in the deep web platform called Silk Road. Silk Road is generally known as the market where dark and illegal shopping on the internet is made.
Skillroad die some years ago, the owner is already on jail.

14.   As of July 2017, 16.4 million Bitcoins were involved in the circulation in the market.
10.   64% of Bitcoins are never used and will never be used... do you math bro?

29.   There are 7 credit cards in the world based on Bitcoin.
They are'n credit cards, they are debit cards, and i own one  Cheesy

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October 09, 2018, 01:56:34 PM
 #5

Quite interesting facts, some of which are non-precisely precise, but in general it's a good idea.
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October 09, 2018, 02:21:30 PM
 #6

Nice information very informative I never expect things like this about bitcoin. Because I never research about the background or history of the bitcoin. I read some in the 40 in the social media sites but some of the 40 I really don't know but because you post it here I have interest on it and I try to research it too and read it.

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October 09, 2018, 02:40:28 PM
Last edit: October 09, 2018, 02:55:49 PM by franky1
 #7

1.   Mining pools in China constitute 70% of all pools in the world.
10.   64% of Bitcoins are never used and will never be used.
18.   17 million Bitcoins is expected to be used in about 10 years.
40.   About 17 million Bitcoins is expected to be used in about 7 years.

1.mining pools are more spread out. take antpool which loads say is "china" fact is they have farms in georgia san fran, iceland.
as for other pools, some are actually in thailand, russia, and other places. seems geography is not OP's strong suit
(you can spot this as antpool uses a separate coin reward address for each facility. if you actually add up the asics and the facilities of their locations. you will see "china" doesnt have as much as you think

10. over 70% of coins moved in the last 2 years (might be worth the OP doing fact checking)

18. & 40  they counter each others points and only 40 is the closest answer.

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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October 09, 2018, 03:14:24 PM
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3.   In May 2010, you could buy only 2 pizzas with 10,000 Bitcoins, and now there are 20 million pizzas.
The deal was for one pizza but the guy delivers two

4.   Bitcoin transfers are non-refundable.
They are if you double spend it to the same addy

5.   The unit of Bitcoin transfers is defined as Satoshi / Byte. 1 Satoshi = 0.00000001 Bitcoin.
Only satoshi, not satoshy/Byte

7.   Each new block is dissolved in 10 minutes and gives approximately 6 Bitcoin awards.
Wrong! the block reward is 12.5 BTC

12.   5% of all Bitcoins are actively used in the deep web platform called Silk Road. Silk Road is generally known as the market where dark and illegal shopping on the internet is made.
Skillroad die some years ago, the owner is already on jail.

14.   As of July 2017, 16.4 million Bitcoins were involved in the circulation in the market.
10.   64% of Bitcoins are never used and will never be used... do you math bro?

29.   There are 7 credit cards in the world based on Bitcoin.
They are'n credit cards, they are debit cards, and i own one  Cheesy


35.   Bitcoin is illegal in Vietnam, Bolivia, Kyrgyzstan, Iceland, Ecuador, Bangladesh and Thailand.
Morocco and Nepal had also outlaw the usage of bitcoin and other crypto currency.

Nice information very informative I never expect things like this about bitcoin. Because I never research about the background or history of the bitcoin. I read some in the 40 in the social media sites but some of the 40 I really don't know but because you post it here I have interest on it and I try to research it too and read it.

Are you serious? Do you even know Satoshi Nakamoto? What is the total supply of bitcoin?
My brain hurts.  Cry
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October 09, 2018, 03:23:58 PM
 #9

The most important fact of Bitcoin BTC is the currency, not the object of investment and the means for savings.
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October 09, 2018, 03:26:21 PM
 #10

Nice piece of research work done there. Some of these I already know, and some where new info gathered. As is custom for me, I like to read the entire posts on a thread as additional information is usually provided. The OP did quite a lengthy post, and errors on it are inevitable. Glad they were countered maturely with the right info provided.
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October 09, 2018, 05:35:53 PM
 #11

Btw, when I read this, I got shocked because when we look at the past reports of bill gates, he looked like against to cryptocurrency...

Bill Gates (founder of Microsoft)
“Bitcoin is a technological show of power.”
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October 09, 2018, 06:05:54 PM
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Bill Gates  Grin
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October 09, 2018, 06:18:38 PM
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11.   America's Federal Bureau of Investigation, or the FBI, has a 1.5% stake in all Bitcoins in the world.



I can't understand what is that? I never hear this. Why FBI has any stake on Bitcoin? Is that related with mining or something we don't know?

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October 10, 2018, 01:57:19 AM
 #14

Awesome facts indeed. Bitcoin was created back since 2009, no wonder it has many facts that we don't know about it yet.
Peoples who lost bitcoin because hardisk malfunction is the poor one i guess.  Lips sealed
no.18 & no.40 is the same fact but different information, could you clarify that ?

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October 10, 2018, 02:08:43 AM
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currently there are more than 16 million bitcoin from a total of 21 million bitcoin supply circulating in the market. meaning that the target for 17 million bitcoin within 7 years is almost reached. I just learned the fact that there is a certain target for bitcoin for sales. Is the lack of supply also a bitcoin target that will disappear a little?
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October 10, 2018, 02:14:29 AM
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many interesting facts that sometimes those who don't know are misunderstood.

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October 10, 2018, 04:06:26 AM
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18. & 40  they counter each others points and only 40 is the closest answer.


I think no. 18 is the closest since first 50 bitcoin was mined on January 3, 2009 so approximately it's almost 10 years. Though we're actually have 17,313,875 bitcoin in which already mined.

41. Hal Finney was the first person to receive bitcoin transaction.

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October 10, 2018, 06:11:20 AM
 #18

i wish i meet with Hal Finney  Smiley
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October 10, 2018, 08:51:30 AM
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Wow, there is a lot of knowledge that I don't know. What surprised me the most was 31. Nakowa won 11,000 bitcoins from Bitcoin Casino. So what is this person doing now?

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October 10, 2018, 02:25:37 PM
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I think he bought an island Smiley
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