Bitcoin is a huge success story, which brought a revolution in the modern world. In the beginning, its worth was less than a penny but it tremendously increased its value over the years, reaching about $20,000 in 2017.
The early adopters of Bitcoin generated a lot of profit, but even now people are making a lot of money through cryptocurrency trading. Check out currency trading for dummies if you are a beginner and don't know much about cryptocurrency.
1- The Real Identity of Satoshi Nakamoto
Bitcoin is the brainchild of Satoshi Nakamoto who published a whitepaper named Bitcoin: A Peer-to-Peer Electronic Cash System to a cryptology mailing list in 2008. This currency became incredibly successful and saw a huge surge in its value over the years.
Now the surprising thing is that no-one knows the true identity of the inventor Satoshi Nakamoto. After successfully initiating this concept of a currency that uses no central bank or authority, he completely disappeared in 2010. There have been a lot of speculations regarding Satoshi's real identity and many have claimed to be that mysterious inventor. However, Satoshi's identity couldn't be ascertained to this day.
2- Losing a Hard Drive could be so disastrous
Bitcoins are highly appealing for people because there is no central bank or authority. That means that there is less regulation and it's up to you to keep track of your money. However, the downside is that your cryptocurrencies can disappear if your e-wallet is not backed up regularly.
A man named James Howells lost a great amount of money because of this. He had purchased Bitcoins in the early days and had 7,500 currencies on a hard drive. It happened that he lost that hard drive while he was doing some spring cleaning. With the hard drive gone, he also washed his hands of 7,500 BTC.
3- One Pizza for 10,000 Bitcoins
How much 10,000 Bitcoins be worth today? Without any doubt, it would be a huge fortune because the current price of 1 BTC is about 10,000 Dollars. Now can you imagine a person exchanging such a huge number of Bitcoins for two pizzas? Just the idea seems extremely ridiculous, does it not?
However, this happened in 2010 when a guy named Laszlo Hanyecz bought two Papa John's pizzas for 10,000 BTC. This was the first commercial transaction using Bitcoins and its value was no more than a fraction of a cent.
4- 'Bitcoin' and 'Marriage'
Just using the words 'marriage' and 'Bitcoin' together sounds strange. However, a young American couple named Austin and Beccy Bingham showed that they could be used together.
That couple vowed to use only Bitcoin as their currency for the first ninety days of their marriage. They even filmed it all for a documentary and now they continue to provide updates on their blog.
5- Receiving salary in Bitcoin
The use of Bitcoins is increasing day by day as more and more people are becoming aware of its benefits. Even the tech giant Microsoft and famous retail company Overstock are now accepting cryptocurrencies.
In 2013, the internet was taken by storm when a story emerged that a small-town police chief from Vicco, Kentucky had asked to receive his salary in Bitcoin. No government entity had ever been paid in Bitcoin, so this was to be the first instance.
The early adopters of Bitcoin generated a lot of profit, but even now people are making a lot of money through cryptocurrency trading. Check out currency trading for dummies if you are a beginner and don't know much about cryptocurrency.
1- The Real Identity of Satoshi Nakamoto
Bitcoin is the brainchild of Satoshi Nakamoto who published a whitepaper named Bitcoin: A Peer-to-Peer Electronic Cash System to a cryptology mailing list in 2008. This currency became incredibly successful and saw a huge surge in its value over the years.
Now the surprising thing is that no-one knows the true identity of the inventor Satoshi Nakamoto. After successfully initiating this concept of a currency that uses no central bank or authority, he completely disappeared in 2010. There have been a lot of speculations regarding Satoshi's real identity and many have claimed to be that mysterious inventor. However, Satoshi's identity couldn't be ascertained to this day.
2- Losing a Hard Drive could be so disastrous
Bitcoins are highly appealing for people because there is no central bank or authority. That means that there is less regulation and it's up to you to keep track of your money. However, the downside is that your cryptocurrencies can disappear if your e-wallet is not backed up regularly.
A man named James Howells lost a great amount of money because of this. He had purchased Bitcoins in the early days and had 7,500 currencies on a hard drive. It happened that he lost that hard drive while he was doing some spring cleaning. With the hard drive gone, he also washed his hands of 7,500 BTC.
3- One Pizza for 10,000 Bitcoins
How much 10,000 Bitcoins be worth today? Without any doubt, it would be a huge fortune because the current price of 1 BTC is about 10,000 Dollars. Now can you imagine a person exchanging such a huge number of Bitcoins for two pizzas? Just the idea seems extremely ridiculous, does it not?
However, this happened in 2010 when a guy named Laszlo Hanyecz bought two Papa John's pizzas for 10,000 BTC. This was the first commercial transaction using Bitcoins and its value was no more than a fraction of a cent.
4- 'Bitcoin' and 'Marriage'
Just using the words 'marriage' and 'Bitcoin' together sounds strange. However, a young American couple named Austin and Beccy Bingham showed that they could be used together.
That couple vowed to use only Bitcoin as their currency for the first ninety days of their marriage. They even filmed it all for a documentary and now they continue to provide updates on their blog.
5- Receiving salary in Bitcoin
The use of Bitcoins is increasing day by day as more and more people are becoming aware of its benefits. Even the tech giant Microsoft and famous retail company Overstock are now accepting cryptocurrencies.
In 2013, the internet was taken by storm when a story emerged that a small-town police chief from Vicco, Kentucky had asked to receive his salary in Bitcoin. No government entity had ever been paid in Bitcoin, so this was to be the first instance.
