FX.co ★ Bitcoin: interesting facts

In October 2008, Satoshi Nakamoto announced the creation of a "peer-to-peer e-cash system" by Bitcoin. The history of birth begins with the words: A purely peer-to-peer version of electronic money will allow sending payments directly from one party to another without using a financial institution."

January 12th is a historic day in the bitcoin history books. On this day in 2009, Satoshi Nakamoto sent 10 bitcoinsto Hal Finney. Ever since that time, the Bitcoin network has significantly grown and evolved into a massive peer-to-peer payment system.

The first exchange of virtual currency for national money was made in September 2009, when Marti Malmi sent 5050 bitcoins under the nickname NewLibertyStandard and received 5.02 dollars to his PayPal account.

The first sale of cryptocurrency was carried out on April 25, 2010. Then, 1000 bitcoins was sold at a price of $0.3 per coin.

On January 3rd in 2009, Nakamoto mined the first 50 Bitcoins himself and these were called the genesis Block.

Blocks are mined every 10 minutes, on average and for the first four years (210,000 blocks) each block included 50 new bitcoins.

Currently, the mining process creates 25 bitcoins every 10 minutes. Every four years, the number of coins that can be mined will be halved, until the capped limit of coins is reached in the year 2140.

According to the experts, the total computing power of the Bitcoin network surpasses the combined power of the 500 most powerful supercomputers in the world.

At the same, time Chinese mining pools control more than 70% of the bitcoin network's collective hashrate.

The bitcoin transaction fees are at an all-time high, up by 1289% since March 2015. The Bitcoin transactional volume has gone up by 173% over 2015, equaling 3 transactions per second. It is impossible to make a return of the transaction using cryptocurrency.

Almost 90% of the cryptocurrency account for 0.8% of the total number of wallets.

Besides, 64% of all Bitcoins have never been in circulation and remain dormant in user accounts.

Almost 90% of all Bitcoin addresses have little or no real value at all.

Nearly 69% of banks in the world are studying the possibility of using the blocking technology.

According to experts, the potential savings of financial institutions from the use of this technology may amount to about 8-12 million dollars.

The largest Bitcoin transaction was made back in 2013 when the Bitcoin gambling service SatoshiDice was acquired for $11.5 million by an unnamed buyer.

In 2013, one individual won 11,000 bitcoins on a Bitcoin gambling site, a sum of $1.3 million at that time. The man, known as Nakowa, sparked an Internet debate centered on whether or not he was a cheater, a genius or lucky.