Fun facts about Bitcoin to tell your friends over the cup

By Loyd Pelto
28.08.2019
Learn the best cryptocurrency facts

There is no such person in the world who hasn’t heard about Bitcoin. Expect for long-lost tourists deep in the forests of Amazonia. But even they may have already been told about the currency of the future; the DIY money; the ultimate digital payment method. Not every person still understands how it works, but many know it is one of the best ways to manage finances when gambling online. Fast, safe, easy. And interesting. Yes, don’t shake your head in disbelief, my friend. It may seem like an awfully serious topic, but Syndicate casino has managed to find you a couple of amusing facts about Bitcoin that you can casually slip into a friendly conversation. So fun is about cryptocurrency.

Bitcoin is not an endless source of money

Many, who do not dive deep into how cryptocurrency works, see Bitcoin mining the same way as mining gold in Klondike. But while Klondike still keeps supplying gold to the lucky ones even a hundred years after the Gold Rush, Bitcoin is a different matter. The number of Bitcoin units is limited to 21 million, and the last one is expected to be mined somewhere around 2140. You still have time, so hurry up!

The limited number is what makes the cryptocurrency valuable

As Bitcoin units are not endless, the fewer are left, the more is the value. Just like with any other “limited edition collection.” Ever remember trying to find a very particular baseball card and ready to pay a fortune? Works exactly the same.

21 Million Bitcoins and the future of cryptocurrency

There are already almost 18 million Bitcoin units mined

Since the first Bitcoin operation in January 2009, cryptocurrency enthusiasts have mined about 85 percent of the total possible number of units. More than half of them are possessed by a thousand people only, including the Bitcoin founder Satoshi Nakamoto having about a million units. The early bird gets the worm. A million worms.

Learn how does Bitcoin work

Satoshi Nakamoto doesn’t exist

Or does. Nobody knows for sure. The name was used to sign a document that proclaimed theoretical foundations of the fun cryptocurrency, which basically started it all off. You may be wondering how this fantom character can then be a Bitcoin millionaire. Well, it is believed that this pseudonym (if it is one) belongs to an individual or a group of programmers. What we know for sure is that they are very good at hide-and-seek.

Only one-third of Bitcoins is actively used

The rest stay untouched being either carefully stored for a rainy day or lost and forgotten. Yes, lost once and forever. If the owner, unfortunately, forgets his crypto wallet password, there is no magic “Forgot your password?” button. In 2017 one desperate lady tried to hack her memory with the help of mind-readers, spiritual healers, and hypnotizers. Alas, she never remembered her password.

If you are among those who utilize their Bitcoin treasure rather than just watch it, you can use BTC and ETH as a payment method in our online casino.

YOU DO REMEMBER YOUR PASSWORD, DON’T YOU?


Loyd Pelto has been involved in the online gambling news industry for more than ten years, having worked for such websites as syndicate.casino. Loyd enjoys writing about exciting advances in the gambling world!

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