It is no news that Bitcoin as a cryptocurrency has toppled everyone’s understanding of currency all over the world. From being heavily misunderstood just about a decade ago to being heavily used today, Bitcoin’s journey has been filled with twists and turns. So here is a list of twelve crazy facts about Bitcoin which are sure to blow you away:
- Badger Alert
While most schools have beautiful and famous animal mascots, there has been an unofficial and even unusual mascot in the world of crypto now which almost perfectly summarizes crypto for you. The honey badger is an animal which may not be dashing but is known for its toughness and strong candour which makes it next to impossible to kill it. Though unofficial, this seems like the perfect mascot for Bitcoin to have. For more information visit bitqt software trading site.
- Faster than Lightning
Everyone knows that Bitcoins revolutionary network is far faster than most other networks. Even when operating at full capacity, users should not face any difficulties carrying out their business. But just how fast is this network? It is estimated that the Bitcoin network can easily handle millions of transactions at any given time without even losing a fibre of its stability. That kind of speed can truly be the future of banking
- Overflown out of Proportions
In August 2010 there was a major bug in Bitcoin which accidentally led to a massive number of Bitcoins being produced. Later known as the Value Overflow Incident, this was corrected within 5 hours and as a majority of people accepted the patch, this error was erased from Blockchain.
- Meating it Out
No one knows why exactly but many of the big names in the Bitcoin industry are in the habit of practising carnivory. Carnivory is the practice of eating mostly meat or only meat. This information came to light about three years ago when it was revealed that fancy ‘meatup’ dinners were common across the crypto network.
- A Heavy Core
Many people today use various e-wallets to store their cryptocurrency but Bitcoin core has probably been the most prominent reference client that Bitcoin has. In fact, there have also been an incredible amount of contributors to its development. According to its website, over 350 people have helped in developing it to date.
- Earliest Bitcoin Birds Got many Worms
When Gavin first developed the Bitcoin faucets to dispense BTC to people, there was an influx of over hundreds of BTCs per day to visitors and anyone who wanted BTC could procure about 5 of them daily from these faucets. Just imagine what people would do today for 5 BTC.
- A Million’s Game
Many people think that having 21 Million Bitcoins dispensed eventually would be a fine number to and getting their hands on one couldn’t be all that difficult. To put things in perspective for you, there are about 36 Million Millionaires today who all want their hands on Bitcoin. So technically speaking, not even every Millionaire could own a Bitcoin each.
- Stats to Watch
While statistics may not always mean a lot, they do point to some interesting facts at times. Today, the average owner of Bitcoin is a European or an American male who is between 23 and 35.
- Bitcoin for Pizza
The first known Bitcoin transaction occurred when as many as about a hundred thousand Bitcoins were used to purchase just two Pizzas from the famous brand Papa John’s. This occurred way earlier in 2010 when the world was just getting used to Bitcoin. Just imagine what Papa John’s can do with that kind of BTC value today.
- Forever Not 21
While many people know that the limit to BTC will eventually be 21 Million, this is just a round off number. Due to the reward mechanism in place and a number of mining errors, this figure has reduced by a few thousand and further errors may alter it to go a bit lower as well.
- Mostly Clean
Many people initially feared Bitcoin as there were rumours that it was exchanged on the dark web to buy drugs or to pay people for illegal activities. This raised various doubts which tampered Bitcoin’s image. Most recently though, the DEA has reported that only about 10% of Bitcoin is used for illegal activities.
- Better than Paypal?
One of the most baffling facts about Bitcoin is how extensively it has been used over the last few years. In fact, Bitcoin has been so famous for transactions that it has been used more than even PayPal over the last three years.