Bitcoin, did you know? - Summarized.

No, we're not going to talk about the Bitcoin Pizza or who Satoshi Nakamoto is.

So let us get right into the list.

  • 1. The original Bitcoin whitepaper was released on October 31st, 2008, by Satoshi Nakamoto.

  • 2. Every four years we get to witness the Bitcoin halving, the number of Bitcoins rewarded for each block is halved every 210000 blocks, effectively halving the mining reward.

  • 3. The initial reward for mining was set at 50 Bitcoins in November of 2012 the first halving dropped this amount to 25.

  • 4. As of writing, Bitcoin is fully prohibited in 5 countries, Algeria, Egypt, Morocco, Bolivia, and Nepal.

  • 5. Former Bitcoin exchange Mt. Gox had a security breach on June 13th, 2011 which resulted in a loss of some 25000 BTC from 478 different accounts.
    In 2014 Mt.Gox filed for bankruptcy, in large part due to the security breach in 2011, the case is still ongoing.
  • 6. The Bitcoin Foundation, a corporation founded in September 2012, with lead developer Gavin Andresen. The Bitcoin Foundation tried to restore the reputation of Bitcoin after several scandals.
    Gavin Andresen became the closest thing to an official public face the Bitcoin community has had.
  • 7. In 2016 the Bitcoin network for the first time ever exceeded 1 Exa Hash/s, approximately 10.8 ZettaFLOPS/s, which at the time beat the world's fastest supercomputer, the Tianhe-2 clocking in at roughly 34 PetaFLOPS.
    One exahash is one quintillion hashes per second ( a one followed by 18 zeros).
  • 8. As of February 2021, there are a total of 14915 Bitcoin ATMs worldwide, approximately 83% were concentrated in North America.
    The highest number of ATMs are located in the United States, followed by Canada and the United Kingdom.

Be sure to read through the linked articles, pages, and statistics -
Thank you for wanting to know more today than you did yesterday.

How do you rate this article?



ELI5 - Summaries and news in digestible form.
ELI5 - Summaries and news in digestible form.

Explain Like I'm Five - Easily digestible information about different news, coins, and technology within the crypto space.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.