The interest in digital currencies is higher than it has ever been. A couple of years ago, people heard about this concept, but a vast majority of them didn’t have enough information on how to obtain it. Today, there is much software that can help you do this easily. If you are interested in cryptocurrency trading, visit https://bit-iq.io/, and start your journey.
When we’re talking about the history of digital currencies, we can see that it is not long. But, that doesn’t mean that it is not interesting. Those who have educated themselves in this field know just how interesting this history can be. For that reason, we want to provide you with a couple of interesting cryptocurrency facts that will surprise you. Let’s take a look at some of these.
1. The Creator is Still Unknown
We all know that there is not anyone who is credited with the creation of BTC. Sure, there is a name, but there is practically no one who thinks this is a real person. We are talking about a pseudonym, Satoshi Nakamoto. There are many theories about this name, but none of them are close to demystifying it. Some say that this name is an acronym for a couple of companies that invested their money in the project.
Not to mention that many developers have worked on some other cryptocurrencies that are thought to be responsible for the creation of BTC. A couple of names have circulated in the last couple of years, but all of these people have said that they didn’t work on this project. All in all, we believe that this is a gap that will be filled in the future. Who knows what will turn out as the truth.
2. Wide Adoption
We can see that a majority of economists talk about the adoption on a national level. However, we feel that the adoption for every company out there is a much more important topic to discuss. By taking a look at the list of all the companies that have adopted at least one cryptocurrency as a method of payment, you’ll see that this is a pretty impressive list.
So, you can have a chance to spend these much easier than withdrawing money from an ATM. However, make sure that the e-shop or physical shop you visit can offer you this possibility. In the last couple of years, the adoption rate has risen significantly. You can practically follow this list every day, and it becomes obvious that there are more of them every day.
3. 20% of BTC is Lost
You have heard a lot of stories about people who owned BTCs before they were cool, but they have lost them along the way. When you hear that, you should immediately remind yourself that roughly 20% of all BTCs out there are lost forever. The scenario is almost the same in every case. The owner has lost the password for accessing an e-wallet. Besides this scenario, there are many others.
20% is serious money. According to the latest value, we can see that it is around $200 billion. The finest example of this is an e-wallet of the crypto’s creator whom we mentioned earlier. The story says that there are roughly one million coins in that wallet. However, chances are that they will not be sold. You can be sure that there are more of these stories than we can count.
4. BTC is not the First
Even though Bitcoin is the best-known digital currency out there, it is not the first one. The first project of this sort was done back in the nineties, and it was under the name “Digicash”. Naturally, it wasn’t as successful as BTC is, but it marked the beginning of a brand new era. The project ultimately failed, but it still serves as a major inspiration for every developer who thinks about creating one of these in the future.
5. Banning Them is Impossible
Over the years, many governments have discussed the possibility of banning cryptocurrencies completely. The latest example is India. But, there is something strange in these stories. Just think about that, banning these, in a physical way, is practically impossible. Anyone who has an internet connection can create an e-wallet. So, the government cannot influence something like this.
Sure, it is possible to remove all the crypto ATMs from the country, or a certain city. But, traders can always go to the nearest country and withdraw money from the ATM. Crossing the border with a big money can be a problem, but it is certainly nothing that cannot be overcome with a little effort. As you can see, imposing a ban on any of these is simply not possible. So, looking for another solution is a must.
6. The Mining Process
Different from some other digital currencies, BTC has clear boundaries about how many of these will be out there. At the end of the process, there will be 21 million coins. When you take a look at the current numbers, you’ll see that roughly 19 million were mined. But that doesn’t mean that the end of the process will occur shortly. In fact, it will be over exactly in 2140.
One of the reasons why this is a likely scenario is that the number of those who can be mined is halved every four years. When you take all of these factors into consideration, it becomes clear that the traders will need to wait quite long for the end of the process and complete stabilization of the price. But that doesn’t have to be such a bad thing, doesn’t it?
Learning about cryptocurrency is something that goes beyond just training. We can see that history has become much more interesting than it over time. In this article of ours, you can take a look at some of the most interesting facts that will maybe change your perspective on this topic. They certainly represent an entertaining addition to what you already know.