BTC Facts, Did you know?

1. Around 20% of Bitcoin has been lost forever. As we know there are only 21.000.000 BTC and about 1.1 million BTC is held by the top coin’s anonymous creator, Satoshi Nakamoto, according to Decrypt. The consensus is that Nakamoto won’t ever touch those coins.

2. Bitcoin is legal tender in El Salvador

On Sept. 7, El Salvador became the first country to accept Bitcoin as legal tender. President Nayib Bukele announced the controversial move at Bitcoin Miami earlier this year. Bitcoin joins, but will not replace, the U.S. dollar as a form of payment in the country.

The government promised that each citizen who opened a national digital wallet would receive $30, but many El Salvadorians have protested the whole plan. And the World Bank refused to help the country with implementation due to environmental and transparency concerns.

3. The last Bitcoin will be mined in 2140

Only 21 million Bitcoin can ever be produced. It’s built into the coin’s code or DNA. Right now, about 18.8 million have been mined, though as we saw above, some of them are already lost.The way Bitcoin mining works, the number of Bitcoins that can be mined gets halved every four years. This means that although almost 90% of the total possible Bitcoin is already in circulation, it will take another 120 years or so to produce the remaining 2.2 million coins.

4. A pizza purchase was the first commercial Bitcoin transaction

On May 22, 2010, Laszlo Hanyecz paid 10,000 BTC for two Papa John’s pizzas — worth about $41 at the time. This was the first commercial Bitcoin transaction and is now commemorated through Bitcoin Pizza day each year.

At today’s prices, that 10,000 BTC would be worth over $400 million — which is perhaps the real reason the story has become part of Bitcoin folklore.

5. 18-year-old became millionaires with Bitcoin

Erik Finman became millionaires from Bitcoin due to his idea when he was 12. While others might buy toys or games, he took $1,000 he got as an education fund from his grandmother and some money he got from his brother to buy Bitcoin, which was only worth $10-12. In 2013, he sold his first Bitcoin when the price was $1,200, turning his $1,000 investment into $100,000 in a few years.

Due to his conflict at school, he left traditional education. Instead, he used his Bitcoin money to found his own online school company, Botangle, hoping to match students with the right teachers. The idea became successful when someone wanted to buy his company for 300 bitcoins. At the time, 300 bitcoins worthed around $60,000, so he was making a loss since he invested around $100,000 into the business. But he was a believer!In 2017, Bitcoin price went up to $2,700, so Erik, who owns 403 bitcoins, is now owning over $1 million and became one of the youngest Bitcoin millionaires.