Topic: Interesting facts about Bitcoin (Read 642 times)

I've seen similar threads on forums, not even a single new fact I've found.
Do you want to make puzzles?

Don't teach people only about Ath, but people have the right to know the bitcoin journey process, this will amaze them and start digging bitcoin further

How about cutting down trees in the forest, is this worse than the story that continues to be developed by the media menstrim, isn't this also damaging to the environment, which category do you think bitcoin falls into.
doesn't this look funny?

It is still speculation about the maximum bitcoin holdings Satoshi holds (assumed) and how sure, that he visits your country, goes on vacation and sells some bitcoins according to the maximum amount he has

Analogy

Requires sophisticated tools to perform mining, the computer you use cannot accommodate mining fields and requires large operational costs.
Easy but hard to reach!!!!

As a means of payment, but not as a commodity asset and no user limits, who can be sure people in this country don't own bitcoins now?

Obviously the development carried out from before, bitcoin is not only limited to investment, that's its advantages and uniqueness.
Fun is not it?

Wallets can store keys as security, you are the only authority that can control them.
While the Exchanges is just a parable of a daycare that will be taken back when the work has been completed (custodial).

Decentralized, even the owner of the exchange who has complete control over the course of the exchange, does not have access to it, even though bitcoin is in their system

There is one thing I believe about Bitcoin and that it gives benefits to the community. I heard some people talking and throwing negatives fact - oh people are making many things that describe Bitcoin and usually, this only gains misconceptions and misunderstandings.
You can do the check OP, you can also listen to others - but you also have your own belief about Bitcoin. Because the more we read and hear facts about Bitcoin, the more we got confused. Well, just think straight that Bitcoin is a profitable investment and it never harms the community, period.

One this particular subject or believe that the bitcoin network consumes alot of electricity in terms of mining, I would simply say "don't believe every crap and sh*t people say out there, facts like this only come from bitcoin haters who are not after anything else but that bitcoin fails, there are several other techs in this world that consume far more electricity than minning bitcoin.


Namely El Salvador and Central African Republic .

Bitcoin was made a legal tender in El Salvador on 6th of September, 2021, though some news outlet have the year, 2020 recorded as the year bitcoin was made legal tender in El Salvador.


And bitcoin also become a legal tender in Central African Republic in on 23rd of April, 2022.


I wonder why Nigeria is not on the list, maybe banning cryptocurrency transactions is different from banning bitcoin.

no more than banks!

Yes, 1) El Salvador 2) Central African Republic


Don't know if this list is accurate or not but nice to see that only a few countries are left

Laszlo Hanyecz bought those pizaz

Keep your bitcoins in YOUR wallet. or exchanges

Exchanges should be used for the purpose for which they were created --> Trading.
Get your bitcoins out of there after trading as it is not safe. They can freeze your funds at any time they want.

NOT your keys Not your coins

But, I guess there are way more stuff that could shock/surprise you and most of the people. Like not many people realize is that famous 10k bitcoin for 2 large pizzas were in 2010, not like it was on very first days or anything, it was established a bit when it happened. The price was still quite low of course but we are talking about 2010 here, not 2008 on very first conception or 2009 when it was live, it was 2010, so the idea was around for nearly 2 years before we saw that.

The gradual increase of bitcoin price happened quite exponentially, look at 2 years ago when the top was 20k and bottom was 3.4k, and look at now, bottom is 20k and top is 60k, back in those days 2 years didn't mean any improvement like this at all.

Thanks guys!

Based on the feedback, I have updated the list and will be online soon, thanks

Bitcoin is an investment asset for the long term that has never existed, that's what makes it unique, I was very interested when I heard about bitcoin in some media at that time, and tried to apply the usefulness of bitcoin for the future, it made me amazed when I found out that bitcoin could be traded. use it for digital payment methods and long-term investment, and many more maybe if I tell you, maybe that's all I can say...

The second one is the most important one for me. Only 2% has more than 1 bitcoin. Obviously not everyone has the same address for all their money, so that means 2% of people in crypto do not have more than 1, there are way more people, but we gotta remember there are companies with wallets that have much more, meaning the estimated is definitely less than 5% of the people have less for sure.

That means we are in a world where there aren't that many rich people, and there are many people who are at the same level of income and assets. That type of equality is the reason why I am so interested in it, and if a rich person ever wants to own a lot, they help us by increasing the price as well.

Have you done a research before? Bitcoin doesn't consume a lot power supply! actually USA and China did consume many times higher than Bitcoin. I understand both of the countries are very big and there's a lot industry need to consume energy, but if you're talking to reduce pollution and make more friendly environment, you're need to take care on the big factors, not the smaller one.


https://www.statista.com/chart/18632/estimated-annual-electricity-consumption-of-bitcoin/

Bitcoin is not a future global asset... Bitcoin is already that, it is used now as a currency and asset, in the future the network will improve in many parts, but it will stay as what it is now, and what it has been since its creation: decentralized, inflation-resistance, control-resistance, etc. Stable coins have no role to play in bitcoin adoption, and many countries may not adopt bitcoin, but it is still what it is, and people who want freedom will use it.

Bitcoin is a future global digital assets payment, it saved as money, which many countries we adopted by regulate Bitcoin using the local currency Bank transection directly, sooner or later Bitcoin will be fully recognize and approved, which stable coin we come and play a role because of high volatility effect for a better understanding and save way of holding your crypto assets.

If accumulating would help, you'd risk someone else creating the same address.

So can I expect the second version or the next version to be released in the next few years? Why is it called the first version, this really raises the question.

One fact that is not on your list is that bitcoin has never been favored by the government until recently. The decentralization of bitcoin so far has led governments to think that bitcoin is not a suitable currency for adoption as legal tender, but may be good as a regulated trading or investment asset. It was their version, but I never thought so.

Well, I understand and now I will not worry that there will not be enough addresses for everyone and I will stop accumulating them in my reserve.

This can be attributed to interesting facts about bitcoin with the wording: it is possible to create an almost infinite number of addresses on the bitcoin network.

Thanks for the clarification.

2^160=1461501637330902918203684832716283019655932542976

Thought experiment: 10 billion people create 1 address every second and live 100 years. Use WolframAlpha to get the percentage of unused addresses. I'll give you a hint: 99.99999999999999999....%.

Here are some of the facts or advantage on Bitcoin that made many countries to made it legalized for their citizens to enjoy:
(1)Well secured: this is one of the facts or advantage that made many countries to have interest on Bitcoin because is more secure in the wallet for the users to move around with it in the societies.
(2)Eliminate unemployment:  this is another fact  or advantage that made many governments to make Bitcoin legal in their countries because it help the countries that made it legal to their citizens to reduce poverty and give job to those that willing to work online.
(3)Fast : fast is among the fact or advantage that made many people to be part of Bitcoin investment because is very fast in transaction.

If we talk about the advantages of bitcoin, it is definitely too long for us to tell in this forum, I am also very sure that everyone on this forum already knows about the advantages of bitcoin and the disadvantages of bitcoin, the age of crypto currency has now stepped on a decade, but whose name is pros and cons are definitely there and negative views continue to emerge, in my personal opinion there are very many interesting facts about bitcoin, one of the most interesting facts is that because of its very limited availability, bitcoin transactions also do not require intermediaries and do not require a third person,

OP, when you create threads like this, just consider the following....

Webcrawlers will explore the Internet for information like this, so it is VERY important for people to get accurate and factual information when they type "Interesting facts about Bitcoin" into their browsers and they land on your forum thread.

Go through the posts in this threads where people made very good amendments and comments and then edit your original post to make those corrections. Let's share the best possible "facts" to the uninformed people out there. 

I think this should be rephrased as "You can store your bitcoins in wallets or exchanges"

I checked the link on OP and found this statement here.



I don't see anything wrong with the statement because it explained how DEXs' basically work. But the title somehow can misinform people that it is safe to keep bitcoin on exchanges which is very dangerous to do. Similar to a bank, if an exchange goes bankrupt or suddenly shutdown, it's users can't do anything to recover their assets stored there.

1. And will reach another ATH and then another and so on..

2. 2% of active addresses? I was expecting more addressed to have at least 1 BTC. In general I guess more people own at least 1 BTC but holds in different wallets.

7. Didn't know that there were two countries (Central Africa and El Salvador) until you posted. Would be better if you had posted the name so we don't have to google.

9. Didn't India and Nigeria ban bitcoin too?

10. And more and more will be lost everyday.

15. Keep your bitcoins in your own wallet and never in an exchange. Not sure why you are suggesting others to store their coin in an exchange.