8 Mind Blowing Facts About BitCoin

You’ve probably heard of Bitcoin. That is, of course, unless you’ve been hidden away in a cupboard for the last few years.

Maybe You Even Own Some.

Just for fun, we took a look at the numbers behind Bitcoin and present 9 mindblowing facts about the biggest cryptocurrency.

Image attribution – Creative Commons 2.0. Creator: www.forextime.com/th

  1. Every month there are an average of 8.8 million searches in Google for “Bitcoin.”
  2. The first ever Bitcoin (BTC) purchase was made on 22nd May 2010 and it was for – wait for it – PIZZA! This is back when Bitcoin was virtually worthless and it cost the man 10,000 Bitcoin to purchase his pizza. Specifically, the purchase was for 2 Papa John’s pizzas.
  3. At the time of this purchase, the value of 10,000 BTC was $41
  4. Fast forward to today and the value of 1 single Bitcoin is over $11,000. That’s a LOT of pizza.
  5. The inventor of Bitcoin is, well, we don’t know. The Bitcoin whitepaper made available to publish was done so under the pseudonym of Satoshi Nakamoto. But we still do not know who this is.
  6. Losing your Bitcoin private key will cost you your Bitcoins. For real. A high profile example of this is that of James Howells who lost 7,500 Bitcoins in November 2013 after throwing away a hard disk containing the private keys of Bitcoins he’d mined in 2010.
  7. There will never be more than 21 million Bitcoins in total. It is expected that the final Bitcoin will be mined in 2140. There’s already over 16 million being traded
  8. Hundreds of retailers accept Bitcoin now – a far cry from the time of that first pizza trade in 2010. The high profile retailers accepting Bitcoin include Starbucks, BurgerKing, AT&T and Microsoft.

So it does not appear the crypto is going away any time soon. But whatever you do, don’t lose your private key.