3 Crazy Bitcoin Facts You May Not Know

Did you know that about 17% of the adult population in the US owns at least a single share of Bitcoin?

Bitcoin, which was the first and most successful cryptocurrency based on the blockchain, has had an eerily explosive price range. In 2010, it was just below $10, but in 2018, it was as high as $20,000. 

Whether you’re looking for fun Bitcoin facts to tell your friends or want something interesting to talk about at your next party, Bitcoin is something that everyone seems to know at least a little bit about. However, there are some intriguing things about its history that make it a pretty fascinating topic of conversation. 

Keep reading to learn about 3 of the most interesting Bitcoin facts out there. 

1. Who Is the Bitcoin Creator?

Nobody knows who founded Bitcoin! Even with the mega-success of this cryptocurrency, the world still doesn’t have an exact idea of who is behind Bitcoin.

The name Satoshi Nakamoto comes up, however, because that is the name that the pseudonymous person (or group) went by when they developed Bitcoin. Satoshi also authored the Bitcoin white paper (called Bitcoin: A Peer-to-Peer Electronic Cash System), which helped jumpstart the development of all other cryptocurrencies.

There have been many people that have claimed to be Satoshi, but the true identity of the person has never been discovered. 

2. No Private Key = No Bitcoin

Did you know that if you lose your Bitcoin private key, you basically lose all of your bitcoins? Having a private key gives you possession and control over the funds that are associated with your Bitcoin address. Without it, you no longer have control over the funds. 

While the first Bitcoin transaction may seem like it was a waste of money, at least they didn’t know at the time how much it would be worth one day.

You may have heard the story of Stefan Thomas, a programmer that lost his Bitcoin stash after losing his private key. He’s not the only one, however, with about $140 million in total unable to be retrieved by people that have made that same mistake. 

3. Bitcoin Isn’t Legal Everywhere

There aren’t any international laws regarding Bitcoin, so it isn’t actually legal tender in all parts of the world.

For instance, Russia and China Bitcoin laws mean that they oppose any use of bitcoins for buying goods or services. Other countries, such as the US, the UK, and Canada, allow people to obtain items with their bitcoins. 

Even further, some countries (like Australia) view Bitcoin as more of a way to barter for goods rather than actually pay for them. It will be interesting to see how these laws change in the future as more and more people are investing in Bitcoin.

Learning Bitcoin Facts Makes Its Growth Even More Fascinating

These Bitcoin facts may make you feel interested in learning even more about the mystery behind this cryptocurrency. There is a lot to be learned, and Bitcoin is sure to go down in history as one of the most groundbreaking things from the early aughts. 

If you thought this article was interesting, we have plenty of others just like it. Check out more on our website today to gain additional insight into the world around you. 

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