Interesting Things To Know About Bitcoin

Interesting Things To Know About Bitcoin

It is safe to say that one of the greatest modern inventions in the global financial industry is the cryptocurrency named Bitcoin. When Bitcoin was created in 2008, nobody could’ve ever predicted that it will rise as high as it rose today. Over 5 million people have invested in it and many global brands accept it as a payment method.

Not only that, but it remains the top cryptocurrency on the market. As you are aware, Bitcoin sparked the creation of hundreds of other cryptocurrencies, but none of them even comes close to it. With that being said, we wanted to share a few interesting things that are worth knowing about Bitcoin. Without any further ado, let's check them out.

Celebrities and Companies Have Invested in It

Many celebrities are part of those 5 million people that use Bitcoin. The likes of Logic, 50 Cent, Elon Musk, Bill Gates, Gwyneth Paltrow, Russ, Snoop Dogg, Paris Hilton, and Serena Williams have all invested in it.

Additionally, we mentioned that many global brands support it since they accept it as a payment method for their products/services. The list includes the likes of Microsoft, Expedia, Shopify, Overstock, Whole Foods, and Subway. All of these companies are aware of the fact that Bitcoin has a lot of advantages as a payment method which is why they have integrated it with their system.

Bitcoin Trading Sites Are a Far Better Option Than Bitcoin ATMs

There are two platforms where you can sell Bitcoins and make money – Bitcoin ATMs and trading sites. Up until recently, ATMs were the only option, but ever since trading sites appeared, they are hardly used.

The reason for that is that reputable trading platforms such as Bitqt are far easier to access. You can literally use your desktop or mobile device and trade Bitcoins wherever you go. Not only that, but trading sites have very low fees; much lower than the ones of Bitcoin ATMs.

Finally, trading sites like the one we just mentioned provide their registered users with AI systems that analyze the market and make accurate predictions on whether Bitcoin will rise or fall in value soon. The fact that the profitability rate at Bitqtand other trading sites is high speaks to how effective this system is.

The Mystery Surrounding Satoshi Nakamoto

At the beginning of this article, we mentioned that Bitcoin was created in 2008. The person who made Bitcoin is known as Satoshi Nakamoto. But the weird thing here is that the name is just a pseudonym. There are tons of mysteries that surround Satoshi. We don’t know if Satoshi is an individual or a group of people. Satoshi’s real name, gender, age, and nationality are also unknown.

Some reports state that the CIA is among the few authorities who know the real identity of Satoshi. To honour him, Bitcoin's network has named 1 subunit – 1/100,000,000 Bitcoins is 1 Satoshi.

The Number of Bitcoins is Limited

People won’t be able to mine Bitcoins forever as the number is limited. There are around 21 million Bitcoins in the network. Research has shown that at this pace, 99% of all Bitcoins will be mined by 2032, while all Bitcoins will be released in the network in 2140.

Just a reminder, mining is a process in which miners record and verify transactions made with this cryptocurrency. It is very complicated and hard, but the reward for mining is Bitcoins.

Papa John’s Is Loved By Bitcoin

The first transaction that was made with Bitcoin was in 2009 when Satoshi transferred Bitcoins to a cypherpunk. But, the first official payment with Bitcoin was in 2010, when Bitcoin was used to purchase pizza at Papa John’s in Jacksonville, Florida.