Stuart Gentle Publisher at Onrec

7 Insane Facts About Bitcoin That Are Sure to Blow Your Mind

Bitcoin is the king of Cryptocurrency. Apart from all the technical and price-related factors, some Bitcoin facts will surely blow your mind.

The mystery of Bitcoin had begun with its creator Satoshi Nakamoto. Though it is said that he is Japanese, you can check the person’s relation with the app website on the internet.

7 Insane Facts About Bitcoin That Will Blow Your Mind for Sure

Here are the 7 Bitcoin facts that will surely leave you with an Awe!

1.The Most Valuable Hard Drive

The limited number of Bitcoins is limited to 21 million. Among these, many Bitcoins are lost with years. In the year 2013, a British man threw his hard drive accidentally.

That hard drive had more than 75,000 Bitcoins that were mined over a period of four years. If we calculate the overall value price of those Bitcoins, it will be more than $2.25 billion.

2.Bitcoin Mining Needs A Lot of Power

The process of making or creating Bitcoin is called Bitcoin mining. The process includes playing the lottery over and over in a repeated mode. The more powerful the computer will be, the chances of mining Bitcoin will increase.

The whole process of Bitcoin mining demands huge electricity. If we calculate the monthly power consumption of the entire Bitcoin network, it will be more than the electricity that is consumed by the Republic of Ireland. The CO2 generation is equal to 1 million transatlantic flights.

3.Bitcoin Is Made of Thirty-one Thousands of Codes

On the 3rd January 2009, Satoshi Nakamoto had launched Bitcoin. This 36-year-old anonymous software coder had claimed that it took more than a year to write 31 thousand lines of code to develop this digital currency software.

For your information, 19 million Coding lines has made the entire operating system of Windows 2000. In every ten minutes or so, the Bitcoin software distributes coins.

4.The Mystery Billionaire

Those who know a little about Bitcoin know that Satoshi Nakamoto had created the world’s first decentralized digital currency, Bitcoin. The software was registered in 2008, and in 2009 the software came to open source. In the year 2010, Satoshi went missing.

As per some estimates, it is said that the creator still owns more than 1 million Bitcoins, which worth more than 30 billion in today’s date.

5.More Than 1600 Bitcoin Clones Are Made till Now

The world’s first-ever and still the most popular Cryptocurrency is Bitcoin. Just like Ethereum and Litecoin, thousands of Bitcoin clones are made after that. Some of them vanished, and some are still in the market.

Over the last 10 years, more than 1600 Bitcoins have been made. It is an estimation, though. In the year 2013, a Bitcoin clone named Dogecoin was created, which had the Shiba Inu dog logo as a joke.

6.Bitcoin Had Gone to Outer Space

Have you heard of the major Bitcoin mining company Genesis Mining? In the year 2016, this company had carried a unique stunt in order to make people aware of Cryptocurrency. The company was the first company that sent Bitcoin to outer space.

Genesis mining has sent a weather balloon with the Bitcoin logo 20 km into the sky. After that, a team from Genesis mining sent Bitcoin to the wallet in space with a P2P transaction.

7.FBI Owns the Fattest Bitcoin

Who has the biggest Bitcoin wallet in the whole world? This all-time question has no definite answer. There was a time when the FBI was the owner of most of the Bitcoins.

It was September 2013. The FBI had seized over 144,000 Bitcoins by shutting down the silk road online marketplace of drugs. As the value price of Bitcoin is more than $30,000, the total amount is over 4.32 billion at today’s rate.

Some More

The Bitcoin market says that Satoshi Nakamoto is a 36 years old Japanese software engineer who created Bitcoin. On the other hand, a part of the market also says that a non-japanese group of people from the United States and different European countries has created Bitcoin. Satoshi Nakamoto is just a pseudonym.