Interesting facts about Bitcoin

[developeron29]

Hi guys! These are some interesting facts about bitcoin and i thought i'll share it with the community


1. Bitcoin reached its All Time High on 11 Nov 2021

2. Only 2% of addresses have 1 or more Bitcoins

3. Bitcoin network consumes lot of electricity

4. Satoshi Nakamoti hodls the maximum Bitcoins

5. 1 Bitcoin = 100 millon Satoshis

6. El Salvador is the first country to adopt Bitcoin as a legal tender

7. As of 2022, two countries have Bitcoin as legal tender

8. You can earn Bitcoin through Mining

9. 9 countries have banned Bitcoin (algeria, bangladesh, china, egypt, iraq, morocco, nepal, qatar, tunisia)

10. Only 21 Million Bitcoin would ever be there

11. Bitcoin network has more computational power than the best supercomputer (80 mil vs 122.3 petaflops - Summit)

12. Satoshis are smaller units of Bitcoin

13. You can buy things with Bitcoin

14. 10,000 Bitcoins were spent to buy pizza in 2010

15. Keep your bitcoins in wallets or exchanges

16. First version of Bitcoin was released in 2009 - Cryptography Mailing List, and on Jan. 9, 2009, Block 1 was mined, and Bitcoin mining commenced in earnest

17. Issuance of new bitcoin is under no one’s control

19. No government controls Bitcoin

20. Bitcoin.org domain was registered on 18 August, 2008

21. Bitcoin is open source

22. First transaction was received by Hal Finney - 12 January 2009 of 10 BTC

Source- https://blog.everycoinprice.com/100-facts-bitcoin/

There are 100 more facts on Bitcoin here. So those interested, could check them out

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[un_rank]

15. Keep your bitcoins in wallets or exchanges

Exchanges are not alternatives for keeping your bitcoins, you exchange your bitcoins there for cash or altcoins.
Wallets that let you own your private keys are the best storage options, such as Electrum^[1] or hardware wallets^[2].

[1]How to Safely Download and Verify Electrum
[2]Open Source Hardware Wallets

[OcTradism]

Exchanges are not alternatives for keeping your bitcoins, you exchange your bitcoins there for cash or altcoins.

People can not manage well for investment and trading. They use same wallet, same account on exchange for trading and for investment. Perfect is use non custodial wallet for your investment and exchange account, custodial wallet for your trading.

With trading, afford your lose from trading and your lose by any accident from exchanges.

Wallets that let you own your private keys are the best storage options, such as Electrum^[1] or hardware wallets^[2].

Verify wallet is important to avoid fake wallet and lose money to scammers.

[franky1]

i know newies get excited and want to share something they just learned with other newbies. but just blanket copy/pasting a website they just read is repetitive. most people on this forum are not new to bitcoin, they dont need the entry level adverts to entice them into looking into bitcoin. because being on this forum shows they already are enticed

they found this forum after learning about bitcoin. thus dont need the usual entry level sales pitch to get them into bitcoin because they are already involved

EG you dont need to advertise that someone should GO TO walmart.. via leaflets found INSIDE walmart.. as they are already there already

try pasting your stuff you learned outside the forum where you will find more people that dont yet know about bitcoin to show them things they may not know. thus get them to want to learn more by then coming here.

anyway to add to the list

8.a. You can earn Bitcoin through Mining
8.b. You can earn Bitcoin through selling products
8.c. You can earn Bitcoin through selling services
8.d. You can earn Bitcoin through working freelance
8.e. You can earn Bitcoin through working for many crypto friendly companies
8.f. You can earn Bitcoin through accepting donations
8.g. You can earn Bitcoin through [insert many more examples]

[LoyceMobile]

2. Only 2% of addresses have 1 or more Bitcoins

Wrong. 99.999999999999999999999999999% of all Bitcoin addresses are empty (and I probably missed a few nines).

[franky1]

2. Only 2% of addresses have 1 or more Bitcoins

Wrong. 99.999999999999999999999999999% of all Bitcoin addresses are empty (and I probably missed a few nines).

the article topic creator posted was about active funded addresses(~43m)...
...not all possible addresses that could ever exist now or in the future(the 160b hash converted to address)

EG only 5 addresses contain more than 100kbtc out of the 43million addresses that have funds associated with addresses

[Lucius]

3. Bitcoin network consumes lot of electricity

If 0.1% of the total energy produced on a global level is a lot, then what about some other consumers who spend much more and do immeasurable damage to the environment? Bitcoin is very insignificant in this regard, regardless of the fact that the mainstream media persistently pushes that story.

4. Satoshi Nakamoti hodls the maximum Bitcoins

An assumption, not a fact. It has never been proven how many Bitcoins Satoshi mined, so although it is assumed that it is a larger amount, all the numbers that appear in the public are just speculations.

8. You can earn Bitcoin through Mining

True, but in order to earn Bitcoin through mining, you need a lot of money to set up a mining farm, and to pay all the costs that arise from such an operation. The days of Bitcoin mining with personal computers are a thing of the past.

15. Keep your bitcoins in wallets or exchanges

Technically, we keep our private keys, and Bitcoin is always on the blockchain. Using crypto exchanges as storage is stupid and irresponsible, that's at least something everyone should know.

[CryptoHeadlineNews]

To be frankly speaking, threads like this have been posted numerous times on the forum, and these are actually not new facts to many of us who have been here for quite along time. But moreover, thanks for sharing this article and putting the link to the source you copied the thread from which is one mistake must Newbies do which leads to banning of there accounts, but here are few of my observations..

1. Bitcoin reached its All Time High on 11 Nov 2021

You just told us Bitcoin reached its All Time High on 11 Nov 2021 without mentioning the actual value the ATH was because there are people who will love to know, of which I guess was around $68k

4. Satoshi Nakamoti hodls the maximum Bitcoins

And you just told us that Satoshi Nakamoti hodls the maximum Bitcoins without telling us the exact number it is, of which I think he hodls around 1million Bitcoin

12. Satoshis are smaller units of Bitcoin

And Satoshi is also the name of the inventor of Bitcoin (Satoshi Nakamoto)

14. 10,000 Bitcoins were spent to buy pizza in 2010

While the name of the person who spent the 10000 Bitcoin on two pizzas is called Laszlo Hanyecz

[pooya87]

1. Bitcoin reached its All Time High on 11 Nov 2021

A more accurate statement is "the most recent ATH was on ...".

3. Bitcoin network consumes lot of electricity

Your computer consumes a lot of electricity, is another fact.

4. Satoshi Nakamoti hodls the maximum Bitcoins

This is NOT a fact, it is a guess.

9. 9 countries have banned Bitcoin (algeria, bangladesh, china, egypt, iraq, morocco, nepal, qatar, tunisia)

China didn't ban bitcoin though, they banned bitcoin mining.

10. Only 21 Million Bitcoin would ever be there

It is more accurate to say there cannot be any more than 21 million bitcoins.

11. Bitcoin network has more computational power than the best supercomputer (80 mil vs 122.3 petaflops - Summit)

That is comparing apples and oranges.

15. Keep your bitcoins in wallets or exchanges

This is NOT a fact, the second part is a terrible suggestion.

17. Issuance of new bitcoin is under no one’s control

A more accurate statement is that issuance of new coins is under everyone's control.

There are 100 more facts on Bitcoin here. So those interested, could check them out

Are you advertising your own website?

[tbterryboy]

Hi guys! These are some interesting facts about bitcoin and i thought i'll share it with the community
~

Sorry but I think that some of your facts are not really that interesting because some of us know's it already like in your number one. We know that the latest ath of btc occurred last year but it would be better if you will start on the first ath of btc as that seems more historical and I think that many of us didn't know the exact date yet. Your number 2 seems also wrong.

Yes, btc is now more expensive compared on its early days but I think that many people have successfully accumulated 1 btc for their long years of stay here. There's also bear runs which can cause btc value to dip and this makes it easier for the people to buy more bitcoin.

[btc_angela]

Yeah probably we can add this to this threads that we already have:

• Fun Facts about Bitcoins
• 40 Interesting Facts About Bitcoin You Don't Know
• Top-40 interesting facts about Bitcoin
• Bitcoin fun facts
• Bitcoin history, a fact for each day!

I can't argue more on what the OP has shared or at least in that article. Some of them are even known, just like crypto basic for being a bitcoiner.

Perhaps it's better to see what Hal Finney said, that's already part of the history.



https://twitter.com/halfin/status/1110302988

[348Judah]

2. Only 2% of addresses have 1 or more Bitcoins

am not sure about the accuracy of these but i know quite alright there are lots of whales around the world

3. Bitcoin network consumes lot of electricity

that's the mining aspect of it but researchers are coming up with more advance technology to ease the PoW, also the use of renewable energy source could reduce the high demanding cost for electricity, new developed ant miners and devices used for mining with less noise and energy consumption were also in place.

6. El Salvador is the first country to adopt Bitcoin as a legal tender

while Central African Republic is the second country to  make bitcoin a legal tender

7. As of 2022, two countries have Bitcoin as legal tender

El-Savador and Central African Republic

8. You can earn Bitcoin through Mining

but remember the difficulty involved to achieve that, the requirements for setting up a mining rig and the cost for the electricity just as mentioned above

9. 9 countries have banned Bitcoin (algeria, bangladesh, china, egypt, iraq, morocco, nepal, qatar, tunisia)

some of them still accept it as legal for use but their banks are not permitted to use it

13. You can buy things with Bitcoin

of course its a currency and doubles as an asset as well, just in an advanced digital technology fully decentralized.

15. Keep your bitcoins in wallets or exchanges

bitcoin are not stored on wallets but on the blockchain, wallets only has the public keys to decrypt access to the encrypted coins on the blockchain using a private key. use a decentralized exchange preferably.

17. Issuance of new bitcoin is under no one’s control

that's why it's called mining, you work for it to earn it

[matthewdaniel69]

I lost my 20k buck. For me no more Interesting facts

[Z-tight]

I lost my 20k buck. For me no more Interesting facts

My apologies that you lost 20k (in whatever currency it is).

You may believe there is nothing more to interest you about bitcoin, ^{("no more interesting facts")} but people lose their coins in the network all the time, as i type this, someone is making a mistake that will lead them to lose their coins, just as you lost yours.

But you know what makes the bitcoin network great, none of such losses is or was caused by bitcoin in itself, it originates from the mistakes of the person who lost their money, they did things like:

• trusted centralized exchanges with their bitcoin
• trusted someone else with their seed phrase or keys
• they were hacked because they click links without verifying
• Greedy---they sent bitcoin to someone and wanted it back double>triple
• they downloaded wallets from unofficial sources
• etc...

[m2017]

2. Only 2% of addresses have 1 or more Bitcoins

Wrong. 99.999999999999999999999999999% of all Bitcoin addresses are empty (and I probably missed a few nines).

I have some questions about your answer. How many total bitcoin addresses can be created? Is it an infinite set or does the number of possible addresses have a finite value? Could there come a moment in the future when all addresses will be used and it will be impossible to create a new one? Sorry for the somewhat naive questions, but I really don't know anything about this. I have some guesses based on your previous answer, but would like to get the correct information. Thx.

[proTECH77]

I lost my 20k buck. For me no more Interesting facts

Don't forget that Bitcoin investment is different from fiat investment, because if you fail to follow the Bitcoin rules and condition you will definitely lose your bitcoins at the end of the investment. I think you sold your bitcoins when the price is low in the market, which will not allow you to get what you want from the market at the moment. I will advise you not to give up on Bitcoin, because Bitcoin has helped many people to improve in their businesses that made them to have more interest on Bitcoin investment than any other investment in the societies.

[adzino]

Hi guys! These are some interesting facts about bitcoin and i thought i'll share it with the community


1. Bitcoin reached its All Time High on 11 Nov 2021

2. Only 2% of addresses have 1 or more Bitcoins

3. Bitcoin network consumes lot of electricity

4. Satoshi Nakamoti hodls the maximum Bitcoins

5. 1 Bitcoin = 100 millon Satoshis

6. El Salvador is the first country to adopt Bitcoin as a legal tender

7. As of 2022, two countries have Bitcoin as legal tender

8. You can earn Bitcoin through Mining

9. 9 countries have banned Bitcoin (algeria, bangladesh, china, egypt, iraq, morocco, nepal, qatar, tunisia)

10. Only 21 Million Bitcoin would ever be there

11. Bitcoin network has more computational power than the best supercomputer (80 mil vs 122.3 petaflops - Summit)

12. Satoshis are smaller units of Bitcoin

13. You can buy things with Bitcoin

14. 10,000 Bitcoins were spent to buy pizza in 2010

15. Keep your bitcoins in wallets or exchanges

-snip-

1. And will reach another ATH and then another and so on..

2. 2% of active addresses? I was expecting more addressed to have at least 1 BTC. In general I guess more people own at least 1 BTC but holds in different wallets.

7. Didn't know that there were two countries (Central Africa and El Salvador) until you posted. Would be better if you had posted the name so we don't have to google.

9. Didn't India and Nigeria ban bitcoin too?

10. And more and more will be lost everyday.

15. Keep your bitcoins in your own wallet and never in an exchange. Not sure why you are suggesting others to store their coin in an exchange.

[xSkylarx]

15. Keep your bitcoins in wallets or exchanges

I think this should be rephrased as "You can store your bitcoins in wallets or exchanges"

I checked the link on OP and found this statement here.



I don't see anything wrong with the statement because it explained how DEXs' basically work. But the title somehow can misinform people that it is safe to keep bitcoin on exchanges which is very dangerous to do. Similar to a bank, if an exchange goes bankrupt or suddenly shutdown, it's users can't do anything to recover their assets stored there.

[Kakmakr]

OP, when you create threads like this, just consider the following....

Webcrawlers will explore the Internet for information like this, so it is VERY important for people to get accurate and factual information when they type "Interesting facts about Bitcoin" into their browsers and they land on your forum thread.

Go through the posts in this threads where people made very good amendments and comments and then edit your original post to make those corrections. Let's share the best possible "facts" to the uninformed people out there. 

[8rch7]

If we talk about the advantages of bitcoin, it is definitely too long for us to tell in this forum, I am also very sure that everyone on this forum already knows about the advantages of bitcoin and the disadvantages of bitcoin, the age of crypto currency has now stepped on a decade, but whose name is pros and cons are definitely there and negative views continue to emerge, in my personal opinion there are very many interesting facts about bitcoin, one of the most interesting facts is that because of its very limited availability, bitcoin transactions also do not require intermediaries and do not require a third person,