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10 Must Known Facts About Bitcoin

Everyone talks about Bitcoin but there are very few who know everything about Bitcoin. Even though its an area of much wider research we pen down few really interesting facts about Bitcoin, which everyone should know. This is our first article in the series of “10 Must Known Facts” about cryptocurrencies and here you go:

Interesting Facts About Bitcoin

1. Bitcoin was invented in 2009 by an individual person or group of people under the pseudonym Satoshi Nakamoto, who is currently the 44th richest person in the world.

2. Bitcoin is an open source, peer to peer cryptocurrency which uses blockchain technology, click for white paper.

3. Bitcoin is the first real world digital currency widely adopted and used by the world.

4. Bitcoins are created by the process of mining and uses Hashcash proof of work to authenticate a Bitcoin transaction.

5. There will only be 21 million Bitcoins ever created and will be fully issued only by the year 2140. 16.75 million BTC have already been mined by 21st Dec, 2017 and by Bitcoin algorithm design around 80% of Bitcoins will be mined by January of 2018.

6. Bitcoin price hit a maximum of $20,000 USD on 17th Dec, 2017.

7. Bitcoin peaked total market cap of $322 Billion, which is more than Walmart ($288.2 billion) and Bank of America ($298.7 billion) and almost one third the value of most valuable company on planet i.e. Apple.

8. Some experts believe Bitcoin price follows Moore’s law and will double every 18 months. Moore’s law is often used to predict transistor density or computing power in the field of semiconductor technology and in general can be applied to any digital technology.

9. Another interesting fact about Bitcoin is that it comfortably seems to capture around 50% market share of all cryptocurrencies total marketcap.

10. Research study conducted by University of Cambridge estimates that there are 2.9 to 5.8 million unique users using a cryptocurrency wallet in 2017, most of them using bitcoin.

If you like above article then Bloqtimes recommends below articles which might be of interest to our readers:

Positive Things Famous People Said About Bitcoin
10 Must Known Facts About Ethereum
How to Buy Your First Bitcoin Using Coinbase

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Bryan is an avid news reader and a crypto investor. You will often find him busy researching about cryptocurrencies on a beach side.

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