Cryptocurrencies itself are surprising and can tell tales that are even more intense. Bitcoin is known to be the first cryptocurrency, but the weird thing is no one knows how it was created. Well, it is said that Satoshi Nakamoto, a pseudonymous person or organization is behind bitcoins. But the true identity is still foggy as many assumptions and guesses were denied. And did you know what happened to Craig? Well, he claimed that he was indeed SatoshiNakamoto, but failed to produce documents supporting the same.
Hence, you can understand just how many weird Cryptocurrency facts are out there that will surprise you.
First cryptocurrency- Bitcoin’s probable entry in the Nobel prize for economics
Bitcoin might be nominated for the Nobel prize in economics. One of the UCLA professor of finance has promised toget Satoshi Nakamoto nominated for the Prize of SverigesRiksbankin Economic Science.
This prize is also known as the Nobel prize of economics. BhagwanChowdhry announced that he was being invited to the committee for submitting a nomination. He made his nomination intentions clear as he said he chooses Nakamoto.
The first cryptocurrency was spent on buying pizza
The very first cryptocurrency transaction in real-time was made on 22nd May 2010, a year later it was released. 10,000 bitcoins were paid by Laszlo Hanyecz for two pizzas from Papa John’s. This Hungarian engineer was very hungry and had loads of bitcoins to spare.
So, he ordered two pizzas for 10,000 bitcoins, even then it was a little odd and in today’s date, it can be termed crazy. As back in 2010 the two pizzas had cost him $600 for those pizzas and now, he has spent over 70 million dollars for two faithful pizzas.
Over 5000 cryptocurrencies are operating in the digital market
A cryptocurrency can be made very easily by copying the original bitcoin code. Many have altered the real formula to come up with interesting offers. Some of the altcoins are actually doing well in the market. Altcoins are cryptocurrencies that are not bitcoins.
Currencies like Ethereum, Ripple, Bitcoin Cash, and others. You will be amazed to hear some of the names, as the developers have worked hard to come up with attractive names. This added the population of currencies that are called cabbage, PizzaCoin, Coinye- named after the hip-hop artist Kanye West and DogeCoin from one of the memes spreading on social media.
There will only be 21 million bitcoins to have been minted ever
Even though it seems easy to get, the market that needs scarcity has to be tied with a limited number of bitcoins. With already 17 million coins minted and 4 million left the demand looks to be quite high. And did you know that there are millions of bitcoins that have been lost over the years?
One such case is of an exchange owner, who died an unexpected death during his visit to India. His widower reportedly said that all the information is stored in some cold storage that only he knew about.
These kinds of uneventful happenings have led to an increase of scarcity, and as the number of bitcoins is limited, it becomes more exciting this way. And, even more surprisingly the last bitcoin is said to be minted in 2140.
Digital community calls the lowest value of bitcoin Satoshi
Even though no one yet knows who Satoshi truly is, they have decided to honor this pseudonym by calling the lowest value of bitcoin Satoshi. 1 Satoshi is equal to 0.00000001 bitcoin.
Wow! There are so many Cryptocurrency facts and there are many yet to come. There is another rush in this industry that literally pulls us towards it. It is exciting to see volatile marketing rising and falling time and again. The real trick is to sit back and watch the show, while others make foolish mistakes. If you are interested in the same, then why not start investing now? Log in to crypto-profit.io and see for yourself how easy it is to buy and sell bitcoins. However, make sure that you are maintaining high security for keeping your private key safe.