Bitcoin was first introduced in 2008. The world then, did not know that cryptocurrency would result in such a sensation, finally becoming one of the most disruptive innovations ever, in centuries to come. Bitcoin is innovative over a lot of layers. It runs with the help of Blockchain, the technology that powers all the cryptocurrencies for being in the market. It is also free from any central authority which makes it a peer to peer electronic cash system. But what is making it the most talked-about topic these days?
This article will give you an idea about few of the top reasons why Bitcoin can be termed as intriguing and fun and at the same time mysterious and obscure. But for that, read on.
Mystery of the Bitcoin Creator
The Bitcoin white-paper is available as a 9-page PDF file on the internet, which precisely explains the working mechanism of Bitcoin. The white paper has the name of Satoshi Nakamoto as its creator, but the actual name(s) of the founder(s) has always been off the grid, hinting that Nakamoto is just a pseudonym. This name also reappears in the implementation documents, as Nakamoto also explains how to implement the entire blockchain system, finally making it a completely new type of currency altogether. You can also Buy Bitcoin With Neteller.
There are some conspiracy theories as well which suggests:
- Satoshi Nakamoto is just a name, where, ‘Satoshi’ means clear thinking, witty and wise, ‘Naka’ means inside of something or a relationship, and ‘Moto’ means the foundation of something.
- Bitcoin was created by four big tech firms and the name of the founder was taken from letters of the names of those companies.
Hence,
Samsung: SA
Toshiba: TOSHI
Nakamichi: NAKA
Motorola: MOTO, to arrive at Satoshi Nakamoto. - Satoshi Nakamoto is actually an Australian businessman called Craig Wright. However, after investigation, Craig turned out to be just another scammer.
All in all, it is yet very difficult to find out who the actual creator of Bitcoin is. That however does not matter much, because what has already been created is here to stay, and not going anywhere else at least not in the recent future.
The first good ever purchased using Bitcoin :
Did you know that Bitcoin Pizza Day is on May 22? Earlier, that is before May 22, 2010, BTC was as good as being valueless. But on that day, Laszlo Hanyecz became the first person to have used BTC to buy real goods. He bought two Papa John’s Pizzas for 10,000 BTC, which at that time was equivalent to 41 US Dollars only. This transaction also became the most expensive food order in history.
Some very weird things can be purchased with Bitcoin. In a fun survey it was noted that the sellers of certain goods and services were accepting BTC as a mode of payment. The list goes on like this: a goat, a webcam show, a pocket cannon and guess what! Even a trip to outer space is possible over a BTC transaction.
It seems that, still, only a very few are aware of the fact that Digicash was the first cryptocurrency to have ever existed. It was created in 1989 by a techie called David Chaum and quite similarly was also based on crypto-protocols. However, it could not become as popular as what Bitcoin became in 2008.
Is Bitcoin supply (un)limited?
Reading about Bitcoin, you might have come across the fact that since Bitcoin is a currency that is not being controlled by any authorised central agency, it is unlimited as far as supply is concerned. However, it is untrue that Bitcoins have unlimited supply. Miners can mine about 21 million bitcoin tokens. Experts however are of the opinion that mining bitcoins can only last until 2140, after which the supply of BTC might just stop.
Like any other thing on this planet, Bitcoin has both fun and obscure entities which make it a hit in the crypto-arena. What’s known and advantageous is there, but the unknown interests people as well, and Bitcoin surely has a balanced track record.
Conclusion:
Popular and unique, a lot of people are choosing bitcoin for its interesting facts and flexibility. Enroll on your preferred wallet and get started.
