Bitcoin has officially been around for 10 years. Initially created in a whitepaper in 2008 by a developer going by the pseudonym Satoshi Nakamoto and first implemented in 2009, it’s been a wild ride for the cryptocurrency ever since, especially the last couple years. The world’s first Bitcoin, known as the “genesis block” was mined on January 3, 2009.
Today, Bitcoin is traded around the world. You can buy everything from furniture to pizza with Bitcoin, and increasingly there’s talk of major stock exchanges like the Nasdaq starting a Bitcoin futures exchange. It’s become a valuable investment tool and institutional money wants in on Bitcoin.
To celebrate Bitcoin’s 10th birthday, here are 10 things you didn’t know about Bitcoin that can help you understand the cryptocurrency and learn why it’s become the currency of the future. Become a smarter Bitcoin investor with these facts.
Bitcoin Initially Traded at 1 BTC/0.03 USD
The first time Bitcoin ever had an exchange value with the USD came in 2010, only 14 months after first being developed, and it was valued at 3 U.S. cents. For only a few cents, you could buy a Bitcoin that’s now worth between $3,000 and $4,000.
In Canada, most cryptocurrency exchanges like Bitbuy came about in 2013. Even then, prices were still rock bottom compared to today and anyone who held onto their coins could have become millionaires.
There Was a Bitcoin Bowl
In 2014, Bitpay sponsored the St. Petersburg Bowl, and Bitcoin was even accepted for ticket and concession sales. Bitpay, as a Bitcoin payment service provider, had a lot to gain from the sponsorship.
There Have Already Been P2P Payment Attempts
The dream of a non-fiat currency not guaranteed by the government or regulated by banks has been dreamed before. The earliest digital currencies went by names like B-Money, Bit Gold, Hashcash, and others. None managed to gain the traction Bitcoin achieved
Bitcoin Is in Space
Yes, Bitcoin joins dogs, monkeys, people, and satellites in space. In 2016, Genesis Mining tied a plastic Bitcoin with a paper wallet to a weather balloon and a transaction sending Bitcoin to the wallet was completed when the balloon hit 34 km in the sky,
Bitcoin Blew Up by 900%
You may be amazed at 2017’s price gains, but anyone who held a few thousand in Bitcoin would have instantly been rich in July 2010 when prices skyrocketed 900%.
The First Bitcoin Transaction Was for Pizza
PizzaforCoins continues a cherished tradition of buying pizza with Bitcoin, because that was the very first time someone successfully made a purchase using Bitcoin. Two pizzas were traded for 10,000 BTC, making them worth $50 million at BTC’s peak.
The FBI Owned $120 Million in BTC
After the FBI shutdown Silk Road in 2013, they seized $120 million, making it the largest owners of Bitcoin at the time.
8) You Can Buy Beer in the Netherlands with Bitcoin
An initiative called “Bitcoin Boulevard” led to a number of local Dutch restaurants accepting Bitcoin, including a Michelin 5-star restaurant and gastropub.
Canada Claims the World’s First Bitcoin ATM
Vancouver, B.C. can claim to be the first place in the world to feature a Bitcoin ATM, where you can exchange Bitcoin for cash just like at your bank’s ATM.
We’ll Never Find a Third of Bitcoin
An incredible 36% of Bitcoin is lost forever, despite the best efforts of the Bitcoin recovery industry. Remember to keep your passwords somewhere safe, folks!
10 Facts You Should Know About Bitcoin Before You Buy