Topic: 10 interesting facts about cryptocurrencies - page 2. (Read 184 times)
Regarding number 10. Can be profited gains from crypto be taxed even there is no laws or anything about it prior to its commencement? For example, there is no law yet how about those before gains that has been incurred. Im sure the government will find a way to ask for those regardless the rule is there already or not when it happened. But for sure many will complained about that since there is no law set yet. (This is an example)
Fun fact # 1: The creator of Bitcoin is still unknown
This is one of the reasons bitcoin ramain the truly decentralized money, asset, currency. Fun fact # 2: Cryptocurrency is great for gambling
Yes, but gamblers should not forget the fact that they should only use the amount they can afford to lose to gamble.Fun fact # 6: There are more than 7,000 cryptocurrencies
There are 16998 listed on Coinmarketcap presently, very possible more are listed on Coingecko.Fun fact # 7: Cryptocurrencies are banned in some countries
Some countries banned cryptocurrencies in a way their citizens can still make use of it through P2P, only direct bank transactions are banned. Also bitcoin is beyond ban because it can give freedom and privacy is possible but not banning it in a country will make it a lot easier for people, especially those that are just into knowing it presently.Fun fact # 8: Bitcoin is limited
Unlike some cryptocurrencies that are centralized or that is not highly decentralized like bitcoin. Fun fact # 9: Elon Musk is an influential figure in the crypto world
Who cares. A manipulator that did everything in a way to promote doge. When Tesla was no more accepting bitcoin, I knew Elon Musk goal was to promote doge when he said only coin that uses less energy or something will be accepted. Not only doge fit into this category but now Tesla is only accepting doge. Fun fact # 10: They can be taxable
Absolutely true. 
Hello crypto fans,
With cryptocurrencies slowly dominating the mainstream market, more people are getting intrigued and encouraged to join the digital asset craze.
However, this novel technology remains a mystery to a lot of people.
Some are still finding out how digital assets work, while others are still learning if the speculations on crypto are true or not.
To help you get started, here's a compiled list of fun facts about cryptocurrencies.
Fun fact # 1: The creator of Bitcoin is still unknown
Ever since the Bitcoin whitepaper was launched in 2009, its creator—the pseudonymous Satoshi Nakamoto—remains anonymous up to this day. Although Bitcoin is now the most popular and has the biggest market capitalization in the crypto sphere, Nakamoto still refuses to reveal their identity and claim their ownership of the code. They abruptly vanished in 2011, two years after Bitcoin was released to the public.
Fun fact # 2: Cryptocurrency is great for gambling
Gambling is risky, especially if you're from a country where it's considered illegal. You can’t enjoy placing bets and winning payouts without getting scared that you might get caught, putting your identity and personal information at risk.
Luckily, gambling with cryptocurrencies like Bitcoin, Monero and Litecoin provides top-notch security and faster transactions. With blockchain payments, you are not obliged to provide information such as your name, birth date or bank account details.
Fun fact # 3: A man wanted to dig a landfill to recover his digital wallet
In 2013, a man named James Howells threw out his hard drive containing 7,500 bitcoins which is now worth US$381,490,449.62. Howells started to mine Bitcoins for four years when cryptocurrency was still in its early years. They didn’t amount to much, so he decided to just throw away the drive, not knowing that he unsuccessfully backed up important files.
When the price of Bitcoin shot up in years, he realised how much he had lost and wanted to recover the lost bitcoins. He offered the city council a whopping amount of US$70,000,000 to excavate a landfill so he could recover his digital wallet.
Unfortunately, they rejected his offer because the excavation would have a serious impact on the environment. It would cost so much and the possibility of finding the drive again is almost non-existent, according to the Newport City Council spokeswoman.
Fun fact # 4: Dogecoin started as a parody
In 2013, IBM and Adobe software engineers Billy Markus and Jackson Palmer developed Dogecoin to ridicule the growing hype around cryptocurrencies. They built the token around the surprised face of the Shiba Inu dog, creating a fun and friendly internet currency.
Although it all began as a parody, Palmer had a deeper reason why he wanted to release Dogecoin to the market. He aimed to differentiate it from Bitcoin, which became too mysterious that it prompted distrust among the public. With Dogecoin, he wanted to make a digital currency that would be accessible, user-friendly and community-centred.
Fun fact # 5: The first crypto transaction started with a pizza order
Who would have thought that the first commercial transaction of this novel technology would start with two Papa John’s pizzas? On May 22, 2010, Laszlo Hanyecz traded 10,000 BTC which was worth about US$41 at that time to order some pizza pies. Since Bitcoin was just newly coded and nobody took it seriously, it was hard to imagine that its price would skyrocket to thousands of dollars.
Today, this story has become one of the most popular Bitcoin stories. In fact, this event is commemorated every May 22 which is popularly known as Bitcoin Pizza Day.
Fun fact # 6: There are more than 7,000 cryptocurrencies
Since cryptocurrencies are gaining traction over the years, more tokens are popping left and right. As of now, there are more than 7,000 cryptocurrencies in the market that can be traded and mined. They are also known as altcoins which is any type of cryptocurrency aside from Bitcoin.
Although some altcoins aren’t worth that much when compared to Bitcoin, most of them can be considered as an investment prospect. This includes Ethereum, an open-source blockchain that allows users to interact with decentralised applications (dApps), as well as purchase AI services through its native marketplace.
Fun fact # 7: Cryptocurrencies are banned in some countries
Although cryptocurrencies have better advantages over fiat, some countries consider them illegal. They have completely locked their doors on the possibility of including digital assets in their payment systems and laws. Many still believe that these digital coins and tokens can be used to fund terrorism, money laundering and other related crimes.
Fun fact # 8: Bitcoin is limited
There are only a total of 21,000,000 bitcoins that can be generated. Once all the coins have been mined, there will be no more coins allowed to enter the circulation. As of the moment, 90% has already been mined, and adding more coins into the system is only possible if its code is changed.
It is expected that the last Bitcoin will be mined in 2140. Although there will be no more bitcoins once they are all generated, fees will become the main source of profit and transaction blocks can still be confirmed.
Fun fact # 9: Elon Musk is an influential figure in the crypto world
Known to be the founder and the CEO of Tesla and SpaceX, Elon Musk is one of the most influential figures when it comes to cryptocurrencies. He has made a lot of buzz for contributing to huge swings in crypto prices in the past years, including Bitcoin and Dogecoin.
Every time he tweets about crypto or talks about it in interviews, the crypto environment would be influenced. This is especially true when he announced that Tesla would make Bitcoin an official form of payment when purchasing cars, increasing the price of Bitcoin up to more than US$43,000, recording a 10% surge.
Fun fact # 10: They can be taxable
If you think cryptocurrencies cannot be taxed due to their decentralised nature, think again. Since they have now entered the mainstream scene, central authorities are finding a way to tax crypto investors around the world. Once you get your profits out of crypto trading, you are expected to pay your due taxes, depending on your country’s laws.
So, if you’re interested in crypto investing, always check your country’s financial regulations to avoid potential issues.
Thanks for reading. How many of them you didn't know?
Regards,
Karl from Bitcasino
With cryptocurrencies slowly dominating the mainstream market, more people are getting intrigued and encouraged to join the digital asset craze.
However, this novel technology remains a mystery to a lot of people.
Some are still finding out how digital assets work, while others are still learning if the speculations on crypto are true or not.
To help you get started, here's a compiled list of fun facts about cryptocurrencies.
Fun fact # 1: The creator of Bitcoin is still unknown
Ever since the Bitcoin whitepaper was launched in 2009, its creator—the pseudonymous Satoshi Nakamoto—remains anonymous up to this day. Although Bitcoin is now the most popular and has the biggest market capitalization in the crypto sphere, Nakamoto still refuses to reveal their identity and claim their ownership of the code. They abruptly vanished in 2011, two years after Bitcoin was released to the public.
Fun fact # 2: Cryptocurrency is great for gambling
Gambling is risky, especially if you're from a country where it's considered illegal. You can’t enjoy placing bets and winning payouts without getting scared that you might get caught, putting your identity and personal information at risk.
Luckily, gambling with cryptocurrencies like Bitcoin, Monero and Litecoin provides top-notch security and faster transactions. With blockchain payments, you are not obliged to provide information such as your name, birth date or bank account details.
Fun fact # 3: A man wanted to dig a landfill to recover his digital wallet
In 2013, a man named James Howells threw out his hard drive containing 7,500 bitcoins which is now worth US$381,490,449.62. Howells started to mine Bitcoins for four years when cryptocurrency was still in its early years. They didn’t amount to much, so he decided to just throw away the drive, not knowing that he unsuccessfully backed up important files.
When the price of Bitcoin shot up in years, he realised how much he had lost and wanted to recover the lost bitcoins. He offered the city council a whopping amount of US$70,000,000 to excavate a landfill so he could recover his digital wallet.
Unfortunately, they rejected his offer because the excavation would have a serious impact on the environment. It would cost so much and the possibility of finding the drive again is almost non-existent, according to the Newport City Council spokeswoman.
Fun fact # 4: Dogecoin started as a parody
In 2013, IBM and Adobe software engineers Billy Markus and Jackson Palmer developed Dogecoin to ridicule the growing hype around cryptocurrencies. They built the token around the surprised face of the Shiba Inu dog, creating a fun and friendly internet currency.
Although it all began as a parody, Palmer had a deeper reason why he wanted to release Dogecoin to the market. He aimed to differentiate it from Bitcoin, which became too mysterious that it prompted distrust among the public. With Dogecoin, he wanted to make a digital currency that would be accessible, user-friendly and community-centred.
Fun fact # 5: The first crypto transaction started with a pizza order
Who would have thought that the first commercial transaction of this novel technology would start with two Papa John’s pizzas? On May 22, 2010, Laszlo Hanyecz traded 10,000 BTC which was worth about US$41 at that time to order some pizza pies. Since Bitcoin was just newly coded and nobody took it seriously, it was hard to imagine that its price would skyrocket to thousands of dollars.
Today, this story has become one of the most popular Bitcoin stories. In fact, this event is commemorated every May 22 which is popularly known as Bitcoin Pizza Day.
Fun fact # 6: There are more than 7,000 cryptocurrencies
Since cryptocurrencies are gaining traction over the years, more tokens are popping left and right. As of now, there are more than 7,000 cryptocurrencies in the market that can be traded and mined. They are also known as altcoins which is any type of cryptocurrency aside from Bitcoin.
Although some altcoins aren’t worth that much when compared to Bitcoin, most of them can be considered as an investment prospect. This includes Ethereum, an open-source blockchain that allows users to interact with decentralised applications (dApps), as well as purchase AI services through its native marketplace.
Fun fact # 7: Cryptocurrencies are banned in some countries
Although cryptocurrencies have better advantages over fiat, some countries consider them illegal. They have completely locked their doors on the possibility of including digital assets in their payment systems and laws. Many still believe that these digital coins and tokens can be used to fund terrorism, money laundering and other related crimes.
Fun fact # 8: Bitcoin is limited
There are only a total of 21,000,000 bitcoins that can be generated. Once all the coins have been mined, there will be no more coins allowed to enter the circulation. As of the moment, 90% has already been mined, and adding more coins into the system is only possible if its code is changed.
It is expected that the last Bitcoin will be mined in 2140. Although there will be no more bitcoins once they are all generated, fees will become the main source of profit and transaction blocks can still be confirmed.
Fun fact # 9: Elon Musk is an influential figure in the crypto world
Known to be the founder and the CEO of Tesla and SpaceX, Elon Musk is one of the most influential figures when it comes to cryptocurrencies. He has made a lot of buzz for contributing to huge swings in crypto prices in the past years, including Bitcoin and Dogecoin.
Every time he tweets about crypto or talks about it in interviews, the crypto environment would be influenced. This is especially true when he announced that Tesla would make Bitcoin an official form of payment when purchasing cars, increasing the price of Bitcoin up to more than US$43,000, recording a 10% surge.
Fun fact # 10: They can be taxable
If you think cryptocurrencies cannot be taxed due to their decentralised nature, think again. Since they have now entered the mainstream scene, central authorities are finding a way to tax crypto investors around the world. Once you get your profits out of crypto trading, you are expected to pay your due taxes, depending on your country’s laws.
So, if you’re interested in crypto investing, always check your country’s financial regulations to avoid potential issues.
Thanks for reading. How many of them you didn't know?
Regards,
Karl from Bitcasino
Jump to: