Bitcoin Facts

Bitcoin Facts
Bitcoin is a type of digital payment system released as open source software that uses cryptocurrency. It was created by unknown programmers in 2008 that call themselves Satoshi Nakamoto and released in 2009. Bitcoin is a type of currency that is peer-to-peer and is considered to be the first decentralized digital currency because it does not have a single administrator. By February of 2015 there were more than 100,000 vendors willing to accept bitcoin as payment. The majority of the almost 6 million people using a cryptocurrency payment method are bitcoin users. The record keeping service for bitcoin is called mining.
Interesting Bitcoin Facts:
Bitcoin can be used to buy items or services online and in person.
Bitcoin has been used to purchase illegal items and legal items.
Some of the illegal purchases that have been done with bitcoin involve the purchase or sale of drugs, weapons, fake documents and possibly criminal services of assassins.
Approximately 3,600 new bitcoins are mined every day, and the maximum number that can ever exist are 21 million.
Bitcoins have a history that remains with it, making it very difficult to fake.
James Howells threw away his hard drive in 2013 and with it $7.5 million worth of bitcoins.
WikiLeaks relies on bitcoins for donations as other transfer companies will not deal with it because it is a whistleblower website.
Thailand outlawed bitcoins in 2013. It was the first country to do so.
In November 2013 one bitcoin was briefly more valuable than an ounce of gold.
In 2010 a bitcoin was worth 4 cents.
At one point a website called the Silk Road harbored the illegal trade of items with bitcoin but it was closed down.
Prior to the Silk Road being shut down it was believed to have accounted for as much as 5% of the bitcoin economy.
There is a shopping area in Berlin called the Kreuzberg that is a bitcoin friendly.
In some places in the United States people can use bitcoins to pay for limousine services.
Thanks to Virgin Galactic a person could use bitcoins to travel to space.
In 2013 there were more than 200 businesses that held a Black Friday sale that customers could use bitcoins as payment.
In December of 2013 China banned bitcoins in bank trading.
The first musician to accept bitcoin as payment was Mel B from the Spice Girls.
Lamborghini was the first auto manufacturer to accept bitcoin as payment for their cars.
If you live in the Netherlands you can use bitcoins to buy pizza.
The FBI owns roughly 1.5% of the world's bitcoins due to seizure of the online marketplace the Silk Road.
If a person loses the private key to their bitcoins they are not able to claim them as the key is the only way to verify the bitcoin signature.
The information necessary to trade bitcoins is stored in a wallet. This is a collection of bitcoin keys owned by the consumer.
Some companies that accept bitcoin include PayPal, Steam, Expedia, Dish Network, and TigerDirect.

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