We cannot deny the fact that Bitcoin is undoubtedly one of the popular cryptocurrency platforms across the globe, but still, we believe that there are few things which many of you may not know. We thought of sharing a few interesting Bitcoin facts as well as figures to share a broader picture of blockchain-based cryptocurrency.
How bitcoin was born?
It was in the year 2009 when the concept of Bitcoin was first introduced to people. We are not sure if it was any individual or any people group popular as Satoshi Nakamoto who actually introduced Bitcoin. By the year 2010, he or the group completely vanished from the Internet world and never heard of again and that was quite strange. Just the way the inventor identity is full of mystery, nobody actually knows if the person or the group members are alive or dead. The solo communication which happened with the inventor was via emails and forums only. Bitcoin’s birthday is celebrated on Jan 3.
The name of Satoshi- An honor to Bitcoin creator
To show respect towards the Bitcoin’s creator, the name of Satoshi was given to the smallest version of the bitcoin. The valuation of One satoshi is equivalent to 0.00005 U.S. dollars (data from April 2019), and that is undoubtedly a low value. To get 1 Bitcoin you need to have with you some one hundred million satoshis. There is a constant fluctuation of the Satoshi and you need to keep a track on it for trading Bitcoin. You can take help of reputed Bitcoin Broker in this regard.
The different thought process for the different country for Bitcoin:
An interesting fact about, Bitcoin is that it is not regulated by any countries’ national governments. Hope it sounds interesting to you? It is the main reason what makes it so popular. Some recognized it as one of the legal currency and few national governments “discouraged” its use and called it illegal. Bitcoin is treated by Australia and Japan, like any other type of legal currency. On the other hand, Jordan and Lebanon clearly stated that they do not support Bitcoin in the form of currency.
What to do if Bitcoin is lost?
What will happen if you lose your address of Bitcoin? This address is known to be the private key, losing it means losing the unique identification. Aside to that it also means you are going to lose all the bitcoins that you collected in your wallet. Researches reflected that a minimum 60 percent of the addresses of Bitcoin are ghosts. Well, it means a good percentage of bitcoin users actually lost the bitcoin addresses and unable to access the wallets and the Bitcoin stored in it.
The industry of Bitcoin mining is growing at a rapid speed and if you want to invest in bitcoin then it’s a must to get in touch with professional experts, the bitcoin brokers. They will explain to you about the way Bitcoin works. Bitcoin is still very new in concept and so needs enough concentration to understand it from the core.