<i></i> <i></i> <i></i> 2<p><img src="https://cdnone.netlify.com/db/2017/12/c-users-mahad-downloads-12-12-2816-jpg.jpeg"/></p> <p>The contemporary financial world is inundated with dubious terms and complicated inventions, and with the invasion of technology, the money market has also fallen prey to the digital upheaval that the world is encountering. It was beyond man’s wildest imaginations that the world would someday be running with a virtual currency. The idea was initially considered as a joke but it is high time for people to realize that the physical currency will soon be classified as archaic.</p> <p>With the rising proliferation of this crypto currency, it is crucial that people should stop being oblivious to some of the major facts associated with this ‘unique asset’.</p> <h2>Fact .1:</h2> <p>The inception of this coin is still a mystery, despite the rising level of popularity that it is attaining. Although, its invention can be ascribed to a person named Satoshi Nakamoto, he is considered to be a mythical figure amidst the masses and people are still skeptical of whether he actually existed or not. This enigma is yet to be solved!</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-892.jpeg"/>Tapoos <h2>Fact .2:</h2> <p>In 2015, this mysterious owner of the currency was granted with the honor of being nominated to receive the accolade of Nobel Prize in Economic Sciences.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-893.jpeg"/>Tapoos <h2>Fact .3:</h2> <p>By the year 2017, Mr. Nakamoto is considered to have accumulated a total wealth of $5.9 billion in Bitcoins.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-894.jpeg"/>Tapoos <h2>Fact .4:</h2> <p>The Bitcoin currency is a free floating one. It has challenged the regular norms that control the other physical currencies around the globe. Unlike all other currencies that are controlled by the fluctuations of the stock market and government regulations, this digital currency initially took everyone by surprise. The currency is controlled via all of its owners with the support of a software that supervises who buys and sells the currency.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-895.jpeg"/>Tapoos <h2>Fact .5:</h2> <p>With the currency becoming so popular amongst the tech savvy people, expectations arise that we can hoard as much of this currency as possible. But the reality is contradictory to this fantasy. There are exact 21 million of Bitcoins in existence, and the supply cannot be expanded. So grab your Bitcoins now to be one of the lucky hoarders of this currency.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-896.jpeg"/>Tapoos <h2>Fact .6:</h2> <p>Economist Milton Friedman reserves the honor of speculating about this unique currency a decade before it actually came into existence.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-897.jpeg"/>Tapoos <h2>Fact .7:</h2> <p>In May 2017, Bitcoin achieved its highest growth of 1289%; setting up a new record.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-898.jpeg"/>Tapoos <h2>Fact .8:</h2> <p>The electricity used in maintaining and running the Bitcoin network is tantamount to the electric power needed to light 1.3 million homes.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-899.jpeg"/>Tapoos <h2>Fact .9:</h2> <p>August 2017 witnessed a market cap of 75.8 billion Bitcoins.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-900.jpeg"/>Tapoos <h2>Fact .10:</h2> <p>It is estimated that despite their restricted supply, 64% of the Bitcoins will remain futile, and i.e. they are never going to be used. How true it is, only time will tell!</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-901.jpeg"/>Tapoos <h2>Fact .11:</h2> <p>The creation and organization of the Bitcoins network can be ascribed to these three corporations; Circle, Block stream and Digital Asset holdings.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-902.jpeg"/>Tapoos <h2>Fact .12:</h2> <p>According to a recent conjecture, around 1.5 % of the total reserves of Bitcoins are held by the FBI</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-903.jpeg"/>Tapoos <h2>Fact .13:</h2> <p>Around 78.5 % of Americans have been introduced to this currency, and amongst them only 802 citizens file their tax claims based on the income they earn in the form of this digital currency.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-904.jpeg"/>Tapoos <h2>Fact .14:</h2> <p>In recent years, as the currency has caught the interest of people, two of its exchanges, Mt. Gox and Bithum have been hacked in 2014 and 2017.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-905.jpeg"/>Tapoos <h2>Fact 15:</h2> <p>The honor of getting the first Bitcoin acquisition has been granted to Satoshi Dice, in 2013; the acquisition amounted to 126,315 Bitcoins.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-906.jpeg"/>Tapoos <h2>Fact .16:</h2> <p>The currency worth 11,000 Bitcoins was won by Nakowa in a gambling competition in 2013. By 2017 the amount worth $ 67 million.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-907.jpeg"/>Tapoos <h2>Fact .17:</h2> <p>81% of the total Bitcoins network is under the control of Chinese mining pools.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-908.jpeg"/>Tapoos <h2>Fact .18:</h2> <p>The first ever Bitcoin transaction is attributed to the purchase of two pizza in 2010. The purchase amounted to 10K Bitcoins and is currently worth 20 million.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-909.jpeg"/>Tapoos <h2>Fact .19:</h2> <p>The unit devised to measure Bitcoins in Satoshi. 1 Satoshi is tantamount to 0.00000001 Bitcoins</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-910.jpeg"/>Tapoos <h2>Fact .20:</h2> <p>Once a Bitcoin is lost, considerate it lost forever. The lost Bitcoins cannot be traced if the individual has lost their wallet and the registration details. Such a tragedy was experienced by James Howell, who lost 7500 Bitcoins, amounted to $ 4 million.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-911.jpeg"/>Tapoos <h2>Fact .21:</h2> <p>The number of Bitcoins that is granted to mining is divided twice the amount every 4 years. With the 21 million of circulation in consideration, the entire supply of these coins will be in circulation after 64 halving’s.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-912.jpeg"/>Tapoos <h2>Fact .22:</h2> <p>The advantage that this currency carries with itself is the transparency attached to its transactions. You can easily view how the network is managed since everything is disclosed through Blockchain. Even the updates on your transaction status are also available 24/7.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-913.jpeg"/>Tapoos <h2>Fact .23:</h2> <p>The creation of the Bitcoin address is attributed to this unique code; SHA256.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-914.jpeg"/>Tapoos <h2>Fact .24:</h2> <p>In 2016, WikiLeaks received a donation of 4000th Bitcoin. The donation in current terms amounts to 4024 Bitcoins.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-915.jpeg"/>Tapoos <h2>Fact .25:</h2> <p>One pivotal fact regarding Bitcoins is the strength of its network which is 2,046,364Pflop/s. This surpasses the strength of 500 supercomputers put together.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-916.jpeg"/>Tapoos <h2>Fact .26:</h2> <p>One important fact about Bitcoins that shouldn’t be ignored is that Bitcoin transactions cannot be revoked, at any cost, under any circumstances. In 2016, an accident took place involving the payment of $137,000 instead of $5, and the damage was permanent. Hence, handle this money with care!</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-917.jpeg"/>Tapoos <h2>Fact .27:</h2> <p>According to a rough conjecture, 17 million bit coins will tend to be in circulation in over a decade. The amount is speculative though.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-918.jpeg"/>Tapoos <h2>Fact .28:</h2> <p>The good news for Bitcoin hoarders and users is that the 21million reserve of the money is predicted to be completely exhausted by 2040. You still have time to earn more.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-919.jpeg"/>Tapoos <h2>Fact .29:</h2> <p>The idea of Austin Craig’s and Betty Bingham’s famous show was based on how they both were successful enough to spend their 90 days dependent solely on Bitcoins.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-920.jpeg"/>Tapoos <h2>Fact .30:</h2> <p>The first university where tuition fee was accepted in Bitcoins was the University of Nicosia, Cyprus.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-921.jpeg"/>Tapoos <h2>Fact .31:</h2> <p>Another famous corporation where Bitcoins is used as a common mode of exchange is Virgin Galactic; a space travel adventure club.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-922.jpeg"/>Tapoos <h2>Fact .32:</h2> <p>Initially, this currency must have sounded as a myth, but in reality, the world’s largest and the most renowned corporate giants have been vastly using Bitcoins in their business transactions, involving Microsoft, Dell, Expedia and many more.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-923.jpeg"/>Tapoos <h2>Fact .33:</h2> <p>By 2017, Bitcoin will be accepted as the most common mode of payment in Japan, in almost 300,000 shops. This is the level with which the currency is expanding.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-924.jpeg"/>Tapoos <h2>Fact .34:</h2> <p>With the enhancing success of Bitcoins, the other two crypto currencies, Ethereum and Bitcoin cash are also making their way in the currency market, with a market cap of 29.8 B and 8.8 B.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-925.jpeg"/>Tapoos <h2>Fact .35:</h2> <p>Bitcoin has made people Richie-rich in a very short period of time. Roger Verm with 52 M and Charlie Shram with 45 M are amongst the many Bitcoin millionaires.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-926.jpeg"/>Tapoos <h2>Fact .36:</h2> <p>A Bitcoin transaction is much more powerful in terms of using power relative to a credit card transaction. This has been evident by research that the former transaction requires 3994 times more energy the latter one.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-927.jpeg"/>Tapoos <h2>Fact .37:</h2> <p>Japan will start accepting Bitcoin as an authentic medium of Exchange as of April 2017.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-928.jpeg"/>Tapoos <h2>Fact .38:</h2> <p>The month of August witnessed an increment of 15 B in the Bitcoin Cap market.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-929.jpeg"/>Tapoos <h2>Fact .39:</h2> <p>In countries like Finland and Belgium, this crypto currency was started being accepted as a commodity and was exempted from being charged with VAT. This was done in 2014.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-930.jpeg"/>Tapoos <h2>Fact .40:</h2> <p>The first bank to introduce Bitcoin as a currency to its clients is Falcon, located in Switzerland, where Bitcoin is has the privilege of VAT exemption.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-931.jpeg"/>Tapoos <h2>Fact .41:</h2> <p>Despite its gaining market strength and popularity, countries like Saudi Arabia, Bolivia and Bangladesh refuse to accept Bitcoin as a legal mode of payment. The reason could be attributed to the fact that they want to keep their influence on their monetary system.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-932.jpeg"/>Tapoos <h2>Fact .42:</h2> <p>In 2013, due to a controversy Bitcoin transactions were ceased in Thailand and the currency was termed as illegal. However, by 2016, the currency was successful to gain acceptance in the market again.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-933.jpeg"/>Tapoos <h2>Fact .43:</h2> <p>By 2017, the currency would be so prevalent that there would be 1402 ATM’s across 55 countries. This is the level of global acceptance that it will reach.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-934.jpeg"/>Tapoos <h2>Fact .44:</h2> <p>Genesis Coin and General Bytes are the two ATMs that hold the largest production of Bitcoins; 48.5% and 19.74% simultaneously.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-935.jpeg"/>Tapoos <h2>Fact .45:</h2> <p>The largest number of Bitcoin machines are concentrated in North America, around 75 %.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-936.jpeg"/>Tapoos <h2>Fact .46:</h2> <p>The rate of growth of this Bitcoin currency can be substantiated by the fact that $100 invested in July 2010 is worth 6 million presently.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-937.jpeg"/>Tapoos <h2>Fact .47:</h2> <p>At present micropayments can also be made via Bitcoins owing to the Kim Dotcom’s invention of Magaupload v2.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-938.jpeg"/>Tapoos <h2>Fact .48:</h2> <p>Like all other physical currencies being traded across the globe, this digital invention also has no inherent value by itself. It is only considered as a mode of exchange because people accepts it to be, hence the greater the acceptance it has, and the higher will be its value.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-939.jpeg"/>Tapoos <h2>Fact .49:</h2> <p>Because there is no evidence left of Bitcoin transactions and also because they are irreversible, Bitcoins are increasingly being used the for illegal commodity purchase, like weapons and drugs. Also, the Bitcoin transactions are done anonymously, i.e. you can never trace the sender or receiver, hence making the money popular in the black market.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-940.jpeg"/>Tapoos <h2>Fact .50:</h2> <p>Bitcoin is considered as highly volatile currency, as numerous speculations are constantly attached with it. It is always hard to comment whether the currency will hold or lose its value in the near future. Attaching certainty with this virtual currency is a difficult task.</p> <img src="https://cdnone.netlify.com/db/2017/12/word-image-941.jpeg"/>Tapoos <p>These facts make the currency as too-good-to-be-true, but that is what the reality is. The currency may sound as over-estimated, but it’s not. The financial crisis and the financial turmoil that takes the global money platform in its wrath, calls for people to resort to some safe means of securing their investments and conducting transactions.</p> <p>So fill in your wallets now, before this interesting currency runs out!</p> <i></i>