50 Insane Facts About Bitcoin (You Didn’t Know)

ROFL 03-03-2014

Did you know that in 2010, a man swapped 10,000 Bitcoins for a pizza — that’s worth more than $5.7 million now!

I’m not too familiar with Bitcoin, so I can’t vouch for the accuracy of the “facts” listed in this infographic by >WhoIsHostingThis, so if any of our readers would like to point out errors in the comments section, I’d hugely appreciate it!

Which of these facts did you already know?

50 Insane Facts About Bitcoin (You Didn't Know) 50 bitcoin facts

Related topics: Bitcoin, Infographic.

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  1. Joel L
    March 3, 2014 at 5:46 pm

    I'm glad to see cryptocurrency receiving more and more coverage all across the Internet. :D

  2. Alea
    March 3, 2014 at 3:32 pm

    And I'm still asking:
    "Do I waste electricity and CPU power for virtual money - like I could do for WoW or Second Life?"
    Why not putting this power in Folding@home or something with more sense?

    • Tim B
      March 3, 2014 at 9:50 pm

      This is it really. Nail meet head.

  3. Milan J
    March 3, 2014 at 10:39 am

    The same could be said about any currency. Why would a government not print an insane amount of money and distribute it among its citizens?

    Every currency is only worth something when it is in demand and is limited in availability. Bitcoins share the same characteristics as any forms of money.

  4. Chinmay S
    March 3, 2014 at 5:33 am

    If Bitcoin is a virtual currency then why there is a limit? Why the maximum bitcoins can be only 21 million? The creator can create unlimited bitcoins and he can give it to every person in the world, so what's the problem?

    • Brian
      March 3, 2014 at 2:37 pm

      There is a limit so that bitcoins will not inflate in value continuously, and the creator has no power to change it. He made the code, and started it, but now it belongs to the public.

    • James B
      March 3, 2014 at 3:43 pm

      That's one of the downsides to BitCoin, yes. DogeCoin doesn't have such a limit - and most economists agree that a little inflation is indeed good for a currency.

      Brian: You've got it the wrong way round. If the supply is limited, then the value will continue to increase.

    • Joel L
      March 3, 2014 at 5:45 pm

      It's a self-imposed limit to prevent rampant inflation. But like James said, a little bit of inflation is a good thing as it prevents currency from turning into a commodity (which is one of Bitcoin's flaws, in my opinion). I'm a big Dogecoin supporter since they've allowed a bit of inflation, thus circumventing this issue.

    • Marcos B.
      March 4, 2014 at 3:19 am

      If he did that, the currency would lose value. The more money flowing in the market, the less it is worth. The limit is there to insure a gradual release of bitcoins into the economy, thus disallowing a sharp drop in the value of the currency. By the way, the current instability with Bitcoin values has to do with the lack of a strong trading structure that can handle trading at high levels, which Bitcoin never really had (Mt. Gox wasn't that great, and now it's gone).