6 Interesting Bitcoin Stories

CIOReviewIndia Team | Saturday, 21 November 2020, 16:07 IST

BicoinBitcoin is the first-ever cryptocurrency that achieved great mainstream success, and it’s still around today. In fact, there are over 4.8 million users around the world. So, it’s safe to say that the demand for BTC has grown since it was created in 2009 substantially, as many people realized the benefits of investing in BTC. Consequently, there are many interesting and unbelievable stories associated with bitcoin. Let’s take a look at some of the most unbelievable stories. 

The Identity of Satoshi Nakamoto

The identity of Satoshi Nakamoto is a great mystery. A lot of journalists over the years have claimed that they have discovered the ‘real’ Satoshi, but no one has got the right one yet. The great scandal was when Newsweek has ‘discovered’ the real creator behind Bitcoin- Dorian Nakamoto. 

Dorian Nakamoto lived near Hal Finney, who was an early supporter of bitcoin and software developer. At the time, there was a lot of evidence that supported the story. He was a computer engineer, his brother that talked with the journalist, has suggested that he was capable of starting bitcoin and has worked on numerous classified projects.  

But, the humble engineer has declared that he wasn’t, in fact, the infamous inventor of Bitcoin. Furthermore, Satoshi Nakamoto himself, from his original account, has sent an encrypted message that Dorian Nakamoto wasn’t the creator. However, the articles and many others that have followed have only increased the popularity of BTC. Satoshi today is one of the wealthiest people in the world, and his/her wealth is estimated at $8.8 billion.

Bitcoin Pizza

The first real transaction occurred when Lazlo Hanyecz purchased the pizza from Papa John’s Pizza. He made a deal with another user on the bitcointalk forum to order a pizza for him in exchange for 10,000 BTC. Now, this is registered as the first-ever commercial transaction in the history of bitcoin, and the day he received the pizzas, May 22, 2010, is celebrated as ‘Bitcoin Pizza Day.’ The worth of the pizzas is estimated at $80 million today. At the time, bitcoin wasn’t worth much, and Lazlo said he is happy with the decision. 

Of course, today is a lot easier to get BTC. You will find a lot of trustworthy exchange platforms, like Bitcoin Loophole. Here you can potentially gain up to $1 million in profitsThe registration process is also fairly straightforward; while you need to deposit $250 and you can trade bitcoin here.

Moreover, they work with top-tier crypto CFD brokers, so you can rest assured that the site works up to the highest standards in the industry. Otherwise, the platform utilizes AI technology, which means you don’t need extensive experience in this area to start trading here. For their members, they also offer a useful trading guide. 

Bitcoin Teenage Millionaire

Erik Finman made a decision that has changed his life for the better. He had received $1,000 from his grandparents when he was 11 and invested the money in BTC. The price of bitcoin increased over the years, and he earned millions from his investment when the price soared in 2017. More specifically, his wealth is estimated at $4.8 million. He became an entrepreneur, founded a startup, and continues to invest in cryptocurrencies. His story is one of the numerous success stories about early investors that got rich thanks to BTC.

Mark Frauenfelder

Mark Frauenfelder has made an investment of $3,000 in BTC. He also got rich thanks to his investment and was advised to keep his BTC safe, and for that purpose, he bought a hardware bitcoin wallet. In order to use the wallet and make transactions, he needed to create a PIN and a 24-word access recovery list. He wrote that information down on a piece of paper, but his cleaner has, unfortunately, thrown it in the trash. Mark didn’t remember his PIN and wasn’t able to retrieve his assets. 

Tony Vaughn 

The chief of the police Tony Vaughn, in Vicco, Kentucky, has requested a paycheck entirely in BTC. In fact, he officially appeared before the city’s commission, where he explained his requirement. Fortunately for him, his request was approved, and he is now recognized as the first government official that receives a salary in BTC. Actually, the mayor, Johnny Cummings, makes the transaction on a monthly basis from the town’s bitcoin wallet. 

Kristoffer Koch

Koch was a student when he bought 5,000 BTC for $26. He studied digital encryption and was interested to learn more about the applications of encryption technology. At the time, in 2009, bitcoin wasn’t well-known as it is today, and none knew that it would blow up years later. Kristoffer forgot about his BTC until in 2013 when he found out that the price of bitcoin has increased, which resulted in a fortune worth $886,000.

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