Ten Bitcoin Facts

Bitcoin had become more popular than it was ten years ago when people neglected its power. This ten most important bitcoin facts are to feed the users about the impact of this crypto so things like reducing a bitcoin to the point that a pizza was more expensive than a bitcoin never haåppen again. Little these bitcoin users knew about the future of bitcoin.

It is very understandable why the bitcoin dawn was so confusing. Since it will represent as it fact it does today, a stone in the shoes of regulatory powers of several countries. But the fight was fought, and bitcoin made itself a place in our life. So important the place, that today, after all this oppositions and trials, now we have bitcoin almost everywhere. Example of this you will find the next ten bitcoin facts.

1. Pay your studies with bitcoins

It is possible to pay with bitcoins tuition fees of the famous New York University The King’s College. And similar initiatives have emerged in other countries, such as the University of Cumbria in the United Kingdom or the University of Nicosia in Cyprus. The latter also has a degree in “Digital Currencies” which directly deals with the Bitcoin theme.

2. Bitcoin boulevards

If we go to the Netherlands, we can visit the Bitcoin Boulevard located in The Hague; two streets -Bierkade and Groenewegje- which run along the canal and in which a vast majority of merchants uses bitcoins as the payment method. Other roads in different parts of the world seem to follow the same path, especially in the United States: to give a typical example, the North-American Bitcoin Boulevard located in Cleveland Heights, Ohio.

3. The first transaction in bitcoin

Since the creation of Bitcoin, around 50.5 million transactions have been carried out through its network. But who started the first transaction? It was none other than Satoshi Nakamoto, the creator of Bitcoin and its underlying technology, who on January 12, 2009, sent 100 bitcoins to Hal Finney.

4. The Millionaire Pizza

Bitpizza

On May 22, 2010, a Bitcoin user named Laszlo Hanyecz paid a user of the Bitcointalks forum a whopping 10,000 BTC for two pizzas. What today can be considered an overwhelming amount (more than 36.080.000 million dollars with the current value of Bitcoin) was equivalent, according to the exchange rate applied at that time (about 0.003 cents per Bitcoin), to $ 30.

The bitcoins had no value at the time, so the idea of ​​exchanging them for pizza was great,” Hanyecz said.” Nobody knew that Bitcoin would become so important.

5. In the ten bitcoin facts we find a master scam with Bitcoin

On November 4, 2011, a user of the BitcoinTalks forum called pirateat40 announced the creation of a Bitcoin investment fund, promising investors weekly interest of 7%. Despite the numerous suspicious elements and the ridiculous incentives offered to invest, the fund was very successful quickly; According to the SEC report, more than 700,000 BTC, equivalent to about 411.7 million dollars. Contrary to the information given to investors, the investment fund didn’t do any commercial activity and users had not seen their money ever again.

6. Romania have more Bitcoin users than China

Although China is far ahead regarding GDP, in the 2nd position compared to the 50th in Romania, there seem to be more Bitcoin users in Romania than in China. This surprising fact is what seems to indicate, since January 2009, the download statistics of the most downloaded Bitcoin client (Bitcoin-Core). However, concerning Bitcoin nodes, China keeps a clear advantage.

7. A Superintelligence hash with access to transdimensional quantum computing power?

This week on Tuesday Coindesk reported a hash number: 00000000000000000021e800c1e8df51b22c1588e5a624bea17e9faa34b2dc4a.
Anytime a bitcoin gets mined, a hash is produced — this particular hash called 21e800. The above hash has a unique 18 first characters, notice that even if it is a random string all are 0s. Even given that scenario that such a hash was made on purposes we can call it a “Vanity Hash”. Simply because the computing power needed to create such a hash, would exceed the actual computing power of the whole world. Meaning that no one with an ordinary computer would be able to create such a hash.

There is a simpler explanation: the so-called Vanity Hash only have three level of difficulty greater than the current level. It solves the bassically the difficulty target AND adds the hash of 21e8.

Out of the ten bitcoin facts this one is the rare one. The above was claiming of quantum bla bla bla, was a tweet which got viral. Is up to you to believe.

8. The computing power of the Bitcoin network, aiming to consume all of the world energy in 2020

People are estimating the computing power of the entire Bitcoin network in about 6,046,364 PFlop/s, compared to the almost 600 PFlop/s of the TOP500 most powerful supercomputers in the world as a whole.

9. The largest operation ever performed on the network: 194.993 BTC

Equivalent to more than 114 million dollars, according to the exchange rate in effect on 07/31/2014. “A big amount of money” according to the commentary published about the transaction by the beneficiary of the same.

10. You cannot ban Bitcoin

You can avoid it, hide it or rejected, but you cannot ban it. Simply because bitcoin performs out of the control of one individual. Yes there you can find a network but that network is made of regular people, like you or me. Once the algorithm is running, you only have to wait for the result. And based on your computing power, sooner or later you will get it. Then you just need to find an interested party. Then the network is there again.

Is it this all about bitcoin?

Ten bitcoin facts are all the facts? No, there are hundreds of facts about bitcoin, I just didn’t want to bring you something that you might easily get from the internet. Here you have facts which are not very usual to read in the Internet, but for me, are the Ten Bitcoin Facts to keep in mind.

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