Interesting Bitcoin Facts about Bitcoin

Interesting Bitcoin Facts about Bitcoin

Cryptocurrency
Nov 26, 2019 by Juhi Jindal
126
The first Bitcoin purchase was for pizza. Did you know why May 22 is celebrated as Bitcoin Pizza Day? Initially, when bitcoins were mined they were virtually worthless as it cost literally cents to buy a BTC. But it was until 22 May 2010, when someone purchased something with bitcoins. Seven years ago on this
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The first Bitcoin purchase was for pizza.

Did you know why May 22 is celebrated as Bitcoin Pizza Day?

Initially, when bitcoins were mined they were virtually worthless as it cost literally cents to buy a BTC.

But it was until 22 May 2010, when someone purchased something with bitcoins.

Seven years ago on this day, someone bought Piazzas with bitcoins and this purchase was a big deal because no retailer was accepting bitcoins at that time for goods and services.

 The inventor of Bitcoin is a mystery.

Yes, that’s correct! The inventor of Bitcoin is still unknown.

Since the inception of Bitcoin in 2009, there have been several speculations about who the father of Bitcoin is.

The Bitcoin whitepaper was made open to the public under the pseudonym of Satoshi Nakamoto. The identity of “Satoshi” is still a mystery yet to be solved.

Amidst this confusion, there are some people like Craig Wright, an Australian entrepreneur, who in May 2016 claimed to be the inventor of Bitcoin. However, this guy, later on, turned out to be just another scammer.

He with his partner tried to pump a forked version of Bitcoin called Bitcoin cash and made a lot of innocent users lose their hard-earned money.

You can buy a lot of stuff with Bitcoin.

 People always ask what you can buy with bitcoins.

         But the real question should be:

What can’t you buy with bitcoins?

Here are just a few of the goods and services offered:

Coffee at Starbucks

Funeral items in the US

Space travel with Virgin Galatic

Order food with Bitcoin

E-commerce with Purse.io

Book a flight for BTC

Buy a Tesla Car

Bitcoin can’t be banned.

Due to the nature of Bitcoin, there is constant talk about “banning” it. This hostility towards Bitcoin is because it works outside the jurisdiction of the traditional banking system.

However, the fundamental design is such that it can’t be banned, only regulated. As long as you have an internet connection and a Bitcoin wallet, you can engage in Bitcoin.

Nevertheless, many countries have tried to ban it, like Bangladesh, Bolivia, Thailand, and Vietnam (among many others). But there are some countries like Australia, Russia, Japan, and Venezuela which have made Bitcoin an official legal tender and are regulating it.

However, some countries like India and even the USA are unclear about their official policy regarding cryptocurrencies.

Try as they might, Bitcoin can’t be pushed away just because it threatens the financial power structure. This is the real beauty of Bitcoin

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