it’s time to put your money where your
monitor is and while it doesn’t grow on
trees it does grow in your hard drive
welcome to watchmojo.com and today we’re
counting down our picks for the top 10
Bitcoin facts number 10 Bitcoin basics
otherwise referred to as electronic
money or virtual currency bitcoin is a
peer-to-peer payment system that offers
a 21st century alternative to regular
brick-and-mortar banking a Bitcoin is
something that most users will never see
and never touch beyond their computer
screens exchanges are made via wallets
software rather than the traditional
wallet in your back pocket and there
exists no central bank or authority so
the value of your bank balance is set
entirely by the supply and demand of the
market
number 9 buying things with bitcoins as
with all money it’s best if you’re able
to spend it it’s been gradual but there
are more and more commodities becoming
available to Bitcoin holders perhaps the
most high-profile acceptor of the
currency is Virgin Galactic their
upcoming space tourist flights are
purchasable if you prefer your transport
a little more traditional than
Lamborghini is the first motor company
to give the go-ahead and what car-stereo
would be complete without Spice Girl Mel
B she was the first musician to
recognize payments for her music
number eight the numbers the Bitcoin
supply is finite production of bitcoins
is romantically called mining with
millions of dollars worth mined or
exchanged electronically each day every
Bitcoin transaction is verified using an
extremely complex algorithm and these
verifications are done by a large
network of mining computers competing
against each other when a miner
successfully verifies a transaction he
or she is rewarded with a small amount
of bitcoins this is also how new
bitcoins are introduced into the system
and mining is a lot of work globally the
network of mining computers is now over
250 times more powerful than the world’s
top 500 supercomputers combined number 7
the value with no thing to hold in your
hand the bitcoins value might seem
indecipherable and as a new concept it
does tend to fluctuate however in
general the value seems to be increasing
in November 2011 after a crash a Bitcoin
was worth $2 u.s. in November 2013 a
Bitcoin topped $1,000 US and value and
briefly was worth more than an ounce of
gold though its value has since fallen
just imagine the level of security when
the first Bitcoin cash machine opened in
Vancouver Canada the previous month
number 6 bitcoins and bankruptcy an old
saying says you have to speculate to
accumulate and there are speculators
aplenty when it comes to Bitcoin while
there are winners there are inevitably
losers – in February 2014 Mount GOx the
one-time largest Bitcoin exchange was
forced to file for bankruptcy protection
due to possible hacking theft or
mishandling that cost them in excess of
four hundred and fifty million dollars
bitcoin is a currency that can lose up
to 80 percent of its value in seconds so
mount GOx was in very big trouble very
quickly number 5 banning the bitcoin
probably because it subverts the
traditional banking system and works
outside government regulation bitcoin is
outlawed in many
around the world and is heavily frowned
upon by many others in July 2013 tie
line became the first country to
completely ban the currency though they
later relaxed the ruling and China with
its higher global profile banned banks
from trading bitcoins in December of the
same year the US Treasury has also
flexed its monetary muscles by shutting
down a physical Bitcoin production
company in 2013 number 4 know your
limits the number of bitcoins that can
exist is limited to 21 million and the
production rate is scheduled to be
halved every four years to ensure that
the value of a Bitcoin is not lost
this means that supply will run out
around 21 40 and although miners will no
longer be rewarded with new bitcoins
they will still be paid for their
efforts through transaction fees as it
stands today over a century before the
deadline
roughly 64% of bitcoins sit unused in
their respective accounts appreciating
and depreciating with time number 3
WikiLeaks the notorious organization
WikiLeaks relies very heavily upon this
futuristic form of finance in mid-2011
the nonprofit whistleblower group began
using Bitcoin as a method of processing
donations because other money transfer
companies wouldn’t deal with them to
become so dependent on something so
unpredictable is perhaps not the wisest
of moves but so far using the
cryptocurrency hasn’t done a lot of harm
to the media profile of Julian Assange
and company watching the world change as
a result of your work
priceless number two Silk Road the
equally infamous Silk Road website used
bitcoins as its form of currency a
black-market trading site that
specialized in illegal drugs and goods
as well as some more reputable products
it provided browsers with anonymity and
made its money using bitcoins when
alleged site founder Ross Ulbricht was
arrested his estimated fortune was so
inconceivable that it’s believed that
well over half remains unaccounted for
as a side note the name of all bricks
alter-ego Dread Pirate Roberts was
lifted from the movie The Princess Bride
go figure
before we unveil our top pick here are a
few honorable mentions
number one bitcoin beginnings Satoshi
Nakamoto is the person or persons behind
Bitcoin launching the software in 2009
Nakamoto past majority control on two
scientist Gavin Andresen in late 2010
and and reasons comments capture Bitcoin
perfectly he says it’s like better gold
than gold nakamoto’s believed to be in
possession of 1 million bitcoins
equivalent to 1.1 billion u.s. dollars
but his name is probably a pseudonym the
real identity of Satoshi Nakamoto is
unknown it’s been suggested that
electronics companies Samsung Toshiba
Nakamichi and Motorola are the founders
but there’s been no confirmation
it’s a mystery for the modern world do
you agree with our list which Bitcoin
fact did we forget for more valuable top
10s published every day be sure to
subscribe to watchmojo.com
you
monitor is and while it doesn’t grow on
trees it does grow in your hard drive
welcome to watchmojo.com and today we’re
counting down our picks for the top 10
Bitcoin facts number 10 Bitcoin basics
otherwise referred to as electronic
money or virtual currency bitcoin is a
peer-to-peer payment system that offers
a 21st century alternative to regular
brick-and-mortar banking a Bitcoin is
something that most users will never see
and never touch beyond their computer
screens exchanges are made via wallets
software rather than the traditional
wallet in your back pocket and there
exists no central bank or authority so
the value of your bank balance is set
entirely by the supply and demand of the
market
number 9 buying things with bitcoins as
with all money it’s best if you’re able
to spend it it’s been gradual but there
are more and more commodities becoming
available to Bitcoin holders perhaps the
most high-profile acceptor of the
currency is Virgin Galactic their
upcoming space tourist flights are
purchasable if you prefer your transport
a little more traditional than
Lamborghini is the first motor company
to give the go-ahead and what car-stereo
would be complete without Spice Girl Mel
B she was the first musician to
recognize payments for her music
number eight the numbers the Bitcoin
supply is finite production of bitcoins
is romantically called mining with
millions of dollars worth mined or
exchanged electronically each day every
Bitcoin transaction is verified using an
extremely complex algorithm and these
verifications are done by a large
network of mining computers competing
against each other when a miner
successfully verifies a transaction he
or she is rewarded with a small amount
of bitcoins this is also how new
bitcoins are introduced into the system
and mining is a lot of work globally the
network of mining computers is now over
250 times more powerful than the world’s
top 500 supercomputers combined number 7
the value with no thing to hold in your
hand the bitcoins value might seem
indecipherable and as a new concept it
does tend to fluctuate however in
general the value seems to be increasing
in November 2011 after a crash a Bitcoin
was worth $2 u.s. in November 2013 a
Bitcoin topped $1,000 US and value and
briefly was worth more than an ounce of
gold though its value has since fallen
just imagine the level of security when
the first Bitcoin cash machine opened in
Vancouver Canada the previous month
number 6 bitcoins and bankruptcy an old
saying says you have to speculate to
accumulate and there are speculators
aplenty when it comes to Bitcoin while
there are winners there are inevitably
losers – in February 2014 Mount GOx the
one-time largest Bitcoin exchange was
forced to file for bankruptcy protection
due to possible hacking theft or
mishandling that cost them in excess of
four hundred and fifty million dollars
bitcoin is a currency that can lose up
to 80 percent of its value in seconds so
mount GOx was in very big trouble very
quickly number 5 banning the bitcoin
probably because it subverts the
traditional banking system and works
outside government regulation bitcoin is
outlawed in many
around the world and is heavily frowned
upon by many others in July 2013 tie
line became the first country to
completely ban the currency though they
later relaxed the ruling and China with
its higher global profile banned banks
from trading bitcoins in December of the
same year the US Treasury has also
flexed its monetary muscles by shutting
down a physical Bitcoin production
company in 2013 number 4 know your
limits the number of bitcoins that can
exist is limited to 21 million and the
production rate is scheduled to be
halved every four years to ensure that
the value of a Bitcoin is not lost
this means that supply will run out
around 21 40 and although miners will no
longer be rewarded with new bitcoins
they will still be paid for their
efforts through transaction fees as it
stands today over a century before the
deadline
roughly 64% of bitcoins sit unused in
their respective accounts appreciating
and depreciating with time number 3
WikiLeaks the notorious organization
WikiLeaks relies very heavily upon this
futuristic form of finance in mid-2011
the nonprofit whistleblower group began
using Bitcoin as a method of processing
donations because other money transfer
companies wouldn’t deal with them to
become so dependent on something so
unpredictable is perhaps not the wisest
of moves but so far using the
cryptocurrency hasn’t done a lot of harm
to the media profile of Julian Assange
and company watching the world change as
a result of your work
priceless number two Silk Road the
equally infamous Silk Road website used
bitcoins as its form of currency a
black-market trading site that
specialized in illegal drugs and goods
as well as some more reputable products
it provided browsers with anonymity and
made its money using bitcoins when
alleged site founder Ross Ulbricht was
arrested his estimated fortune was so
inconceivable that it’s believed that
well over half remains unaccounted for
as a side note the name of all bricks
alter-ego Dread Pirate Roberts was
lifted from the movie The Princess Bride
go figure
before we unveil our top pick here are a
few honorable mentions
number one bitcoin beginnings Satoshi
Nakamoto is the person or persons behind
Bitcoin launching the software in 2009
Nakamoto past majority control on two
scientist Gavin Andresen in late 2010
and and reasons comments capture Bitcoin
perfectly he says it’s like better gold
than gold nakamoto’s believed to be in
possession of 1 million bitcoins
equivalent to 1.1 billion u.s. dollars
but his name is probably a pseudonym the
real identity of Satoshi Nakamoto is
unknown it’s been suggested that
electronics companies Samsung Toshiba
Nakamichi and Motorola are the founders
but there’s been no confirmation
it’s a mystery for the modern world do
you agree with our list which Bitcoin
fact did we forget for more valuable top
10s published every day be sure to
subscribe to watchmojo.com
you
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