101 Random Bitcoin Facts

A list of 101 random bitcoin facts.

101 Random Bitcoin Facts

One of my favorite authors and philosophers, Nassim Nicholas Taleb, writes a lot about randomness. He explains how one central illusion in life is that we regard randomness as a risk (a bad thing). Our lives are determined in large part by pure chance, and it's sometimes scary to accept the fact that randomness is a critical part of every mathematical equation. This chaos is what many species across all animal kingdoms rely on to survive.

So in the spirit of Taleb, black swans, antifragile matter, and other highly improbable events, here are 101 random bitcoin facts.

  1. Bitcoin has been used in outer space.
  2. The technology of Bitcoin is capitalized, like "Internet".
  3. The currency of Bitcoin is capitalized, like "Dollars".
  4. The singular of bitcoin is lowercase, like "dollar".
  5. The plural of bitcoin is lowercase, like "dollars".
  6. The abbreviation of bitcoin or Bitcoin is "BTC", like "USD".
  7. Bitcoin can be a currency or a protocol, like "euro" or "Euro".
  8. The "blockchain" is a public record of Bitcoin transactions.
  9. Bitcoin is free to receive and costs money to send, like letters.
  10. On May 22, 2010, or "Bitcoin Pizza Day", a Florida man Laszlo Hanyecz agreed to pay 10,000 Bitcoins ($40) for two delivered Papa John's pizzas in what became the first official bitcoin purchase.
  11. Bitcoin's white paper was published on Halloween (October 31, 2008).
  12. The plural of bitcoin is bitcoin (not "bitcoins").
  13. A "satoshi" is the smallest unit of bitcoin, like "cents".
  14. There are 100 million satoshi in 1 bitcoin, like 100 cents to 1 dollar.
  15. The identity of "Satoshi Nakamoto", the founder of Bitcoin, is unknown.
  16. You can send money to a bitcoin address like sending email.
  17. Some of the FBI agents who infiltrated Silk Road went to prison.
  18. A "confirmation" means a trade has been accepted.
  19. Bitcoin uses more electricity than 70% of countries.
  20. With 1 bitcoin you could send bitcoin to 100 million people.
  21. With 10 bitcoin you could send bitcoin to 1 billion people.
  22. With 75 bitcoin you could send bitcoin to every human on Earth.
  23. The math field of "cryptography" was used for Bitcoin's security.
  24. Bitcoin users lean Right (politically), and Ethereum users lean Left.
  25. The act of "mining" is the process of making computers solve complex math equations (with a lot of energy) for security, like "captchas".
  26. Some people believe the name "Satoshi Nakamoto" was inspired by the Japanese brands "Samsung", "Toshiba", "Nakamichi" and "Motorola".
  27. A "peer-to-peer" (or "P2P") is a trade between two parties without a government, custodian or financial intermediary.
  28. A bitcoin "wallet" operates like a free digital bank account.
  29. A "signature" is a mathematical code (or key) that allow people to verify ownerships of their bitcoin wallet.
  30. A "Know Your Customer" (or "KYC") process is the act of verifying your identity by showing a passport, driver's license or government ID.
  31. When trading bitcoin, your name is never attached to any transaction.
  32. Some implementations of Bitcoin (like the Lightening Network) can process millions of transactions per second.
  33. Bitcoin is much slower than VISA (credit cards) in approving transactions.
  34. There are no chargebacks or payment reversals in Bitcoin.
  35. Bitcoin is about the size of PayPal in market cap.
  36. The most recent crypto projects to break the crypto top-10 list were Chainlink (LINK) and Polkadot (DOT).
  37. The largest bitcoin exchange in the world is Binance.
  38. The largest bitcoin exchange in United States in Coinbase.
  39. The largest bitcoin exchange in China is OKCoin.
  40. The largest bitcoin exchange in Europe is Kraken.
  41. The largest bitcoin exchange in Africa is Paxful (#2 LocalBitcoins).
  42. The Mt. Gox hack of 2013 lost investors over $460 million.
  43. The Coincheck hack of 2018 resulted in the loss of 500 million NEM tokens worth over $530 million, with links to North Korea.
  44. Bitcoin represents about 60% of the crypto industry.
  45. The entire crypto industry is about $200 billion.
  46. There are about 5,392 total cryptocurrencies.
  47. Satoshi Nakamoto has mined over 1.1 million bitcoin since its creation, and they still remain untouched in his wallet.
  48. Satoshi Nakamoto would have about $10 billion today.
  49. All trades on the blockchain are public (but anonymous).
  50. Many people have publicly claimed to be Satoshi Nakamoto.
  51. One of the first digital currencies was Digicash, founded in 1989.
  52. If you lose your Bitcoin private key, you lose your bitcoins.
  53. Bitcoin’s supply is finite; there will only be 21 million bitcoin.
  54. You can send over $1 million in bitcoin for less than $1 in fees.
  55. Many currencies like Bitcoin Cash (BCH), Bitcoin Satoshi Vision (BSV) and DASH (DASH) were "forked" from the original Bitcoin Core (BTC) software, but Bitcoin remains the most popular.
  56. A two-factor authentication (2fa) token is used to verify ownership of bitcoin wallets,  not usernames and passwords.
  57. The least expensive exchange in USA is Binance (0.10% fee).
  58. The most expensive exchange in USA is Coinbase (0.50% fee).
  59. On 3 January 2009, the Bitcoin network came into existence.
  60. The first bitcoin block is referred to the "genesis block".
  61. To compensate miners for maintaining the network, miners are rewarded a small amount of bitcoin whenever a block is mined.
  62. The largest Bitcoin wallet holds over 255,000 bitcoin, with an estimated value of $2.2 billion, owned by Huobi Exchange.
  63. Bitcoin is "deflationary" due to its fixed supply (21 million).
  64. Bitcoin is totally decentralized and does not have any people, government, institutions or organizations behind it.
  65. Bitcoin is open-source, meaning anybody can contribute to its development or suggest changes to its core code (good luck).
  66. Satoshi Nakamoto described bitcoin as a "peer-to-peer electronic cash system" and pitched it as an alternative to the banking system.
  67. The majority of US bank accounts do not yield any interest.
  68. The term "DeFi" stands for "decentralized finance" and is the notion that virtually any financial service can be recreated through decentralized protocols with no human intervention.
  69. In "DeFi", you can provide Bitcoin as collateral and borrow more bitcoin back at 5.9% APR, about the same as a student loan.
  70. The Bitcoin Foundation (owners of bitcoin.org) was started by Gavin Andresen, Charlie Shrem, Patrick Murck and Roger Ver after a meeting in Seattle.
  71. Gemini (founded 2014) is a highly regulated NYC-based Bitcoin exchange founded by Tyler Winklevoss and Cameron Winklevoss.
  72. In 2013, the Winklevoss twins led a $1.5 million investment round of seed funding for BitInstant, a Bitcoin payment processor.
  73. Bitcoin's price volatility has been used to systemically paint artwork with varying colors, rotation, scale, and positions.
  74. The first email Satoshi sent about bitcoin was to "hashcash" founder Adam Back in 2008 saying "I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party."
  75. The bitcoin "blockchain" is the database that tracks bitcoin transactions, and is commonly referred to as the "Bitcoin Network".
  76. Anyone joining the Bitcoin network can generate a new Bitcoin address for free using the Bitcoin software code.
  77. Most bitcoin addresses consist of 34-character string of letters and numbers with a private key (64-characters), and operate like bank account numbers.
  78. Each bitcoin address has only one private key (not "keys").
  79. The price of bitcoin is the price people are willing to pay for bitcoin.
  80. Most of the biggest crypto exchanges in Africa are "peer-to-peer".
  81. Most bitcoin mining is concentrated in China (75% control).
  82. Bitcoin's value is backed by the technology, the energy used to mine it, and the conviction of all its users.
  83. In 2019, the United Nations Office on Drugs and Crime (UNODC) estimated that less than 0.5% of bitcoin trades were for illicit activities.
  84. In May 2020, J.P. Morgan Chase said they would start accepting applications to work with certain crypto businesses.
  85. In 2018, Wells Fargo started investing in blockchain technology while banning all crypto purchases attempted on Wells Fargo cards.
  86. In September 2020, Berkshire Hathaway reduced its holdings in Wells Fargo to under $3.36 billion (prior $32 billion).
  87. In February 2019, J.P. Morgan Chase became the first U.S. bank to create and successfully test a digital coin (USD) representing a fiat currency.
  88. In December 2017, CBOE Global Markets became the first to introduce bitcoin futures trading with the Cboe Futures Exchange (CFE).
  89. Many countries have banned bitcoin, including Algeria, Bolivia, Ecuador, Nepal, Bangladesh, Cambodia, and China.
  90. North Korea holds about $670 million in crypto assets.
  91. Large wealthy bitcoin holders are referred to as "crypto whales".
  92. The "OTC desks" are private over-the-counter trading platforms that have much higher volumes than fiat exchanges but more privacy.
  93. Bitcoin was founded in 2009 after the 2008/2009 Financial Crisis with the idea to decentralize the control of money.
  94. A total of 3.79 million bitcoin keys have been reported as "lost".
  95. The last Bitcoin (21 million) will be mined by 2140.
  96. The US dollar and the Japanese yen are the two most common currencies that are traded to or from bitcoin.
  97. In 2013, a British man named James Howells accidentally threw away his personal hard drive containing the private keys to his Bitcoin account having over 7,500 bitcoins (worth over $75 million today).
  98. It took five years (2009 to 2014) for Bitcoin to reach $1,000, then only one year (2017 to 2018) to increase from $1,000 to $14,000.
  99. The largest Initial Coin Offering ("ICO") of all time was EOS, launched 2017, having raised $4.1 billion (of $6 billion total in 2017).
  100. A tweet about #bitcoin is sent every 3 seconds.
  101. There are 9,521 Bitcoin ATMs globally.

If you found this article helpful, please share it with friends and consider creating a free account on Redeeem, a trusted peer-to-peer exchange that lets you save up to 15% or more on gift cards using Bitcoin.