Here are 18 amazing facts about Bitcoin

Bitcoin is a decentralized cryptocurrency that has existed since 2009. Since its creation, its popularity and adoption around the world has continued to grow.

Many anecdotes mark its history and here in this article are some of them that are interesting to know.

The identity of the creator of Bitcoin remains a mystery

Who invented Bitcoin? It's undoubtedly one of the greatest mysteries of the digital age. Indeed, one or more people acting under the pseudonym Satoshi Nakamoto invented Bitcoin in 2008. Satoshi then disappeared in 2010, and his last message with the cryptocurrency dates back to April 2011, when he stated: "I've moved on. [Bitcoin] is in good hands."

Since then, we have never heard from him, we have never seen him in person and we have never even heard his voice. Today, his bitcoins are worth several billion dollars and have never been touched.

Bitcoin ATMs exist in Africa

Despite the economic and political challenges faced by many African countries, Bitcoin is gaining increasing acceptance across the continent, with significant adoption rates. In 2022, there were 15 Bitcoin ATMs on the continent, located in Kenya, Nigeria, South Africa, Uganda, Zimbabwe, Botswana, and Djibouti. Their locations can be found on the BtcMap.org website . South Africa has the highest number of businesses accepting Bitcoin.

A bug accidentally produced 184 billion bitcoins

A most surprising event occurred on August 15, 2010: the accidental creation of 184 billion bitcoins, caused by a bug. However, the problem was quickly fixed before it could cause real chaos on the network. The incident is known as the " value overflow incident ."

There will never be more than 21 million bitcoins

In his white paper, Satoshi Nakamoto stated that there will never be more than 21 million bitcoins . Estimates suggest this limit will be reached in 2140.

Hal Finney, the first recipient of Bitcoin, died in cryogenics

Hal Finney was an American computer scientist who was the first person to receive Bitcoin directly from Satoshi Nakamoto. Many believed he might have been the true creator of Bitcoin. He died in 2014 from ALS (amyotrophic lateral sclerosis). His Bitcoin fortune now funds the cryogenic preservation of his body.

Bitcoin mining consumes as much energy as Norway

According to the Cambridge Bitcoin Electricity Consumption Index, Bitcoin mining consumed 132.5 TWh of energy per year in 2021. This consumption is comparable to that of countries like Norway, Pakistan, or Ukraine. Furthermore, the high energy consumption of Bitcoin mining is due to the Proof of Work process, which is what makes Bitcoin so secure and decentralized.

The first university to accept Bitcoin is in Cyprus

The University of Nicosia in Cyprus was the first university in the world to accept Bitcoin for tuition payments in 2013. Currently, "Bitcoin evangelist" Andrea Antonopolous is part of its faculty. Since then, many other universities have followed suit, including the Lucerne University of Applied Sciences and Arts in Switzerland, ESMT Berlin, King's College London in the United States, the University of Cumbria, and FPT University in Vietnam.

Paxful builds schools using Bitcoin

Paxful is one of the most widely used P2P platforms in the industry. Through its NGO, BuiltWithBitcoin , the company aims to build over 100 schools worldwide, particularly in Africa. Currently, Paxful is building one school in Kenya and one in Nigeria , and two in Rwanda.

The first Bitcoin transaction was a pizza purchase

On May 22, 2010, Laszlo Hanyecz made the first real Bitcoin transaction by buying two pizzas in Jacksonville, Florida, for 10,000 BTC.

At the time, the value of one bitcoin was approximately $0,30 USD. Today, the value of those two pizzas would be several million dollars. Since then, May 22nd has been celebrated as " Pizza Day " in the Bitcoin community.

Largest Bitcoin transaction is 194,993 BTC

The largest Bitcoin transaction on record involved 194,993 BTC, worth $147 million in 2013 , the year of the transaction. To this day, the perpetrator of this operation remains unknown, and the affair has generated considerable controversy.

Bitcoin holders keep it for an average of 3 years

A study by IntoTheBlock showed that, on average, people who buy bitcoins and hold them for three years always make a profit. In fact, those who tried this experiment did quite well, with gains of up to 10,000%.

Losing your private key means losing your Bitcoins

James Howells is a British man who lost 7,500 Bitcoins in 2013 when he threw away his hard drive containing his private keys. His lost Bitcoins are currently worth nearly $212 million. Moreover, James's case is not unique. In fact, more than 25% of all Bitcoins in circulation no longer exist. There are approximately 4 million Bitcoins that appear to be lost forever.

Blockstream broadcasts blockchain worldwide via satellites

The Blockstream satellite broadcasts the Bitcoin blockchain worldwide 24/7. This allows anyone, wherever they are, to use Bitcoin, even if the local internet is no longer available.

Bitcoin is illegal in some countries

Bitcoin has been banned in several countries, including Namibia, Kyrgyzstan, Bolivia, Vietnam, Ecuador, Morocco, Bangladesh and Colombia.

However, these bans have been largely ineffective. The only way for a government to ban Bitcoin would be to shut down the internet completely, which is highly unlikely.

Bitcoin is legal tender in two countries

El Salvador was the first country in the world to legalize Bitcoin in 2021. This means it is perfectly legal to pay with Bitcoin throughout the country. In 2022, the Central African Republic also legalized Bitcoin with the Sangocoin initiative. However, legislation is currently being drafted to finalize the project.

Bitcoin is favored by celebrities

Many celebrities have adopted Bitcoin, including Gwyneth Paltrow, Paris Hilton , Snoop Dogg, Ashton Kutcher, Justin Bieber, Hugh Laurie, Mike Tyson, and Pitbull. This is not an exhaustive list, as the number of celebrities interested in Bitcoin is growing daily.

Bitcoin could reach $1 million

John McAfee predicted that Bitcoin would be worth $1 million by the end of 2020. His prediction (unfortunately) did not come true. However, many others, such as Arthur Hayes, have stated that they believe Bitcoin will reach $1 million before 2030.

During its 15 years of existence, Bitcoin has experienced some great moments in its history . The least we can say is that it still has some wonderful surprises in store for us and certainly even more stories to come in the future!