10 Things Everyone Should Know About Bitcoin

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bitcoin

Introduction

Everyone knows that it is possible to convert Bitcoin using such services as LetsExchange, but there are more interesting things connected with this cryptocurrency. In this article, you will find out the most important information about it. Hence, here are the top ten facts about the coin:

10 Facts about Bitcoins

It is not completely anonymous

It is difficult to explain why this cryptocurrency is not anonymous, but you should know that government agencies and hackers obtain the means to track the coin. If you manage to connect numerous nodes to the network of Bitcoin, this data may be enough to figure out where a transaction was made from. 

Not all countries treat Bitcoin the same

National governments do not usually regulate the cryptocurrency, and it is one of the reasons why so many people prefer using it. At the same time, different countries treat this coin differently, so in some of them, it is not legal. In Australia, for instance, Bitcoin is not against the law, while Jordan has issued official statements claiming that the use of this coin is not supported. However, the citizens of such countries are still utilizing this cryptocurrency.

The amount of the crypto asset is limited

When Bitcoin was introduced, the amount was limited, 21 million to be precise. These days, more than 16 M are being used, and they are mining more daily. 

There are more cyber currencies

BTC gets all the media coverage, but it is not the only crypto asset on the market. Ethereum, for instance, is one more popular coin, which was launched in 2014. Meanwhile, Ether is different from Bitcoin because it is only within its network, and consumers tend to utilize it for investing and gambling, not to buy something. 

Its popularity rating is higher than one may think

Right now, the value of one coin exceeds ten thousand dollars. Thanks to such a price, more and more people are investing their money in it. Moreover, many governments, like China, are doing what they can to break into the BTC world. They even call the cryptocurrency “the new gold.”

Nobody knows who the creator of BTC is

It is hard to say how many conspiracy theories there are, but no one can come up with a feasible one. Some people believe that the creator is Japanese; others say that NSA runs BTC. There are more opinions, so you can believe the one you like most.

The black market is not the only field where they use it

Bitcoin is relatively anonymous, so people often utilize it on the black market. However, there are many places that allow transactions, at least within the United States. Microsoft, Expedia, and Dell are just several services that regard this crypto asset as a legitimate one. This coin is predicted to be accepted in more places as its popularity keeps growing.

One of the biggest BTC wallets is owned by the FBI

It is probably one of the most interesting facts about Bitcoin. Several years ago, the FBI shut down a large black market website that was utilizing BTC for purchases. It implies that the FBI got all the coins circulating around the online service, so they possess 1.5 percent of the world`s BTC.

Pizza was the first thing they bought with Bitcoin legally

You will be surprised, but this fact is true. Laszlo Hanyecz became famous because he offered ten thousand coins for two pizzas. The amount is enormous these days – it should be more than 200 million dollars. 

It is not easy to understand the world of Bitcoin because it is complex, but the provided above ten facts about the coin should clear up a few essential aspects.

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