Fun facts about Bitcoin

● Countless of attempts have been made to find out the true identity of Satoshi Nakamoto. However, to date, the identity of Nakamoto remains a mystery.

● During the early days of bitcoin, Satoshi Nakamoto has mined around 1,000,000 bitcoins. Satoshi Nakamoto has millions of bitcoins in his account that remains untouched.

● In 2011, a physical version of bitcoin was marketed. However, it was not successful.

● There are 31,000 lines of computer codes behind the bitcoin cryptocurrency.

● Some people believe that Hal Finney and Satoshi Nakamoto are one and the same person. The first bitcoin transaction in history was also between Hal Finney and Nakamoto.

● In 2013, Thailand declared the use of bitcoin illegal.

● Lamborghini is the first car company that accepted the use of bitcoins.

● In 2009, 10,000 bitcoins were spent to buy $25 worth of pizza.

● As a measure against fraud, bitcoin is known for irreversible transactions. Once confirmed, there is absolutely no way to cancel, withdraw, or alter a transaction.

● Bitcoin has the great potential to be used in the commission of crimes, especially in money laundering. In fact, there are many good reasons to believe that this is already happening today.

● Some people believe that the true purpose of bitcoin is to support criminals in their activities.

● Bitcoin has a very powerful network. It has a computing power of more than 2,000,000 Pflop/s. If you combine the top 500 supercomputers in the world, you will only get a computing power of around 274 Pflop/s.

● If banks use blockchain technology, which is the technology behind bitcoin, then they can save an estimated amount of around USD 10,000,000 annually.

● All data and bitcoin transaction can be seen on the bitcoin blockchain. Indeed, it is a public blockchain.

● Bitcoins are not infinite in number. There are only 21,000,000 bitcoins in circulation. If they have an infinite number, then they will lose their value.

● A company engaged in space tourism known as Virgin Galactic accepts payment in bitcoins.

● More than 80,000 merchants have started to accept bitcoins since 2014.

•Although so many people have earned a profit with bitcoin, only less than a thousand people in the world have declared such earnings for tax purposes.

● In Belgium, there is a VAT exemption if you use bitcoins.