Bitcoin

Facts you need to know about Bitcoins

If you are interested in investing in cryptocurrencies, you can consider doing it in Bitcoins. Bitcoin evolution official site are the ruling cryptocurrencies all over the world. But there are altcoins that are equally competent and hold good value.

Satoshi Nakamoto was the main person who developed and launched Bitcoins in 2009. Since its launch and Satoshi’s disappearance, the youth has run crazy after these cryptocurrencies. If these blockchain encrypted tokens are also blowing your mind in astonishment, then you can consider knowing a few updates and interesting facts on them now. You can also consider choosing Bitcoin Era as your trading platform for its unique features.

Interesting Facts on Bitcoins

Here are a few interesting and funny facts on Bitcoins that might enlighten you:

  • 20% of the Bitcoins are lost cases now:

Yes, you got it right. Almost 20% of the total Bitcoins present in the entire world have been lost forever. Nobody would ever access them as they are somewhere stuck in individual wallets.

Out of the 3.7 million Bitcoins, the mysterious man and developer of Bitcoins have 1.1 million BTC, which he would never touch in his lifetime.

Another reason behind the stuck coins in the wallets of people is death. Several people died having so many Bitcoins in their wallets that nobody could ever get access to them. Thirdly, the last lost case of Bitcoins is from the unaccessible wallets whose private keys are lost forever. In this case, you cannot opt for the ‘forget password’ option.

  • Brock Pierce and his first mortgage:

In 2019, Brock Pierce, who is also well known for his acting skills, was the first one in the world who mortgage almost 3 million Bitcoins to get a chapel in Amsterdam. Later, other wholesale markets like that of the USA stated that they would also start accepting Bitcoins for selling away their properties and real estate in exchange for Bitcoins and other cryptocurrencies like Ethereum, Binance, Tether, etc. Such small acceptance of cryptocurrencies worldwide leads to a bright and digitalized future where people would only value digital assets over physical assets, unlike now!

  • Number of transactions per day:

If you go through several research papers and survey results on Bitcoin transactions, you would be surprised to know that the total number of Bitcoin trading transactions that have taken place since its launch in 2009 is almost 668 million!

Even if you go for proper research today, you will find out that most people enjoy investing in Bitcoin each day and get high-value returns whenever they want. In today’s world, people go for almost over two lacs investments and transactions worldwide in one day. Can you imagine the amount of craze regarding Bitcoins among the masses now?

  • A big step towards innovation, El Salvador:

El Salvador’s president legalized the tender of Bitcoin a few years back. He did not throw away the use of USD, though. He had the guts to take such a huge step towards the betterment of the modern future.

The government also took further steps to make people have faith in the concept of cryptocurrencies by starting a scheme where people who would open digital wallets for cryptocurrency storage would receive $30 in the first go. This scheme had brought sudden excitement among the El Salvador people. However, the World Bank did not believe in such schemes this early and dismissed the initiative!

  • The estimated time of mining the last Bitcoin:

If you are crazy about Bitcoins, you must be aware that Bitcoins have a specific availability limit. One would not be able to mine even one extra coin after mining the 21 millionth Bitcoin.

Knowledgeable people and enthusiasts believe that the last Bitcoin will come to this world only after 120 years. Though 18.8 million Bitcoins are already present globally, a chunk of valuable Bitcoin gets lost every year due to the above factors mentioned in the first point. You might feel the pain in your quenching heart, but that is the reality; that is the harsh truth about Bitcoins!

Wrapping it up !!!

Apart from the above points, many cases worldwide related to Bitcoins, can either make you laugh out loud or break your heart into pieces. You can keep on reading various articles taking updates on Bitcoin faucets!

About the author

Venkatesan Prabu

Wikitechy Founder, Author, International Speaker, and Job Consultant. My role as the CEO of Wikitechy, I help businesses build their next generation digital platforms and help with their product innovation and growth strategy. I'm a frequent speaker at tech conferences and events.

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