Nine Interesting Facts About Bitcoin

Nine Interesting Facts About Bitcoin by Gary Christenson – Deviant Investor

By now many people have heard about Bitcoin even if they don’t use the virtualcurrency. As Bitcoin gains prominence people are learning more about how cryptocurrencies work as well as what makes it unique from other paymentoptions. People are finding very creative ways to use Bitcoin, which has lead to some interesting stories and facts.

If you’re interested in using and investing in Bitcoin, here are a few interesting facts about the world’s leading cryptocurrency.

Bitcoin Blasts Into Outer Space

Last year, Genesis Mining made history by sending Bitcoin into outer space. The crypocurrency mining company created a YouTube video explaining how the event went down. Genesis Mining worked with Sentintospace.com to make the intergalactic, peer-to-peer monetary transaction possible.

Genesis Mining first created a 3D model of a Bitcoin that was affixed to a weather balloon. The Bitcoin and balloon reached a height of 34 kilometers, which is outside of the stratosphere.

10,000 Bitcoin Pizza Worth $17 Million Today

Just like gold and other forms of currency, Bitcoin fluctuates in value. For example, in October 2009 less than a year after Bitcoin’s creation the trade rate was $1 for 1,309BTC.

Today, bitcoins are valued at a much higher rate than they were in 2010 when Laszlo Hanyecz used bitcoins to order two pizzas worth about $25. The transaction equated to 10,000 bitcoins at the time. Had he forgone the pizza craving and held onto those bitcoins they’d be valued at about $17 million. The transaction is also notable because it’s the first known instance of someone buying something tangible with bitcoins.

The Bitcoin Creator Was Anonymous . . . in the Beginning

Most people who come up with a revolutionary form of currency would want people to know what they accomplished. But it was an anonymous individual going by the name Satoshi Nakamoto that’s credited with creating Bitcoin. Some have speculated that the anonymity was intentional to allow the creator to profit from bitcoins since they were able to efficiently mine them early on. Some have speculated that Satoshi mined a total of 1 million bitcoins in the infancy of the crytocurrency.

But in 2016 Australian tech entrepreneur Craig Steven Wright revealed he was the creator of Bitcoin. Wright proved his claim by producing the cryptographic keys that ‘Satoshi Nakamoto’ used to send the first bitcoin transaction to a gentleman by the name of Hal Finney. However, many are still skeptical and believe the world may never know the true mastermind behind Bitcoin.

Bitcoin Goes to College

King’s College in New York is known for being progressive. It’s so forward-thinking it became the first U.S. college to accept bitcoins for tuition payment.

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Gary Christenson

Gary Christenson is the owner and writer for the popular and contrarian investment site Deviant Investor and the author of several books, including “Fort Knox Down!” and “Gold Value and Gold Prices 1971 – 2021.” He is a retired accountant and business manager with 30 years of experience studying markets, investing, and trading. He writes about investing, gold, silver, the economy, and central banking. His articles are published on Deviant Investor as well as other popular sites such as 321gold.com, peakprosperity.com, goldseek.com, dollarcollapse.com, brotherjohnf.com, and many others. Many years ago he did graduate work in physics (all but dissertation), so he strongly believes in analysis, objective facts, and rational decisions based on hard data.