The US Government is the biggest auctioneer of Bitcoin today while the FBI controls one of the biggest wallets in the world with as much as $120 million woth of BTC, the security organisation seized about 144 000 bitcoin connected to silk road and hasn’t relented since then.
As blockchain technology makes bitcoin a decentralized cryptocurrency, its estimated that only as few as 1000 people own about 40% of the bitcoin wallet.
As at December 2013 only about four in every ten Americans were aware of bitcoin as reported by bitcoin news but by December 2017 the figure had skyrocketed to about 80%
Numerous articles, images and videos claim that the cryptocurrency bitcoin will eventually reach a $1 million valuation per coin just as others claim that BTC could be the next biggest item since tulip mania in the Netherlands some 400 years ago.
It is until date, impossible to hack the bitcoin network as miners altogether possess more computing power than the worlds most powerful super computers. Experts leave the estimation at about 2 million petaflops/s.
The final or last remaining of the cryptocurrency, bitcoin will be mined in 2140 and only a maximum number of 21 million bitcoin can exist in total. Many people are undoubtedly regretting not investing in bitcoin earlier than today
Although the media want to paint bitcoin as a newest form of wealth, the cryptocurrency, bitcoin has been in existence for a decade. Satosshi Nakamoto released his well-known white paper during the US financial crisis in 2008.
Satoshi Nakamoto published the first designs of bitcoin in his white paper titled “ Bitcoin: a peer to peer Electronic Cash System” . it is reality that no one knows of Nakamoto was a woman, a man or an agency or even government, Satoshi’s identity remains unknown.
Bitcoin is widely accepted a a legal means of payment all over the world but most notable in Japan. Accorcing to reprts, there are about 200 000 to 250 000 transactions per day.
In 2009, Hal Finney bought pizza for about 10 000 bitcoins, can you imagine that, today that’s equivalent to about $ 110 000 000 USD at $11 000 PER BTC.
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