Bitcoin is a form of cryptocurrency that was first introduced in 2009. Originally the medium of exchange of choice for users of the deep web, Bitcoin has since exploded onto the mainstream and is now regularly traded on a variety of crypto exchanges.
There is much speculation around the inventor of Bitcoin – Satoshi Nakamoto, with dozens of theories speculating who he actually is. One particular theory claims that Nakamoto is actually a computer programmer who invented Bitcoin as a means of transferring large quantities of currency easily and anonymously.
Another theory suggests that Nakamoto is not actually a person but in fact, an alias for a consortium of computer programmers who developed the cryptocurrency.
Did you know that back in 2010, 10,000 BTCs were exchanged for two Papa John’s Pizzas? This gave rise to the naming of the 22nd of May as International Pizza Bitcoin Day. Now in 2018, things have changed with luxury car manufacturer Lamborghini jumping on the Bitcoin wagon. Now, you can purchase your own Lamborghini with Bitcoins!
Whoever Bitcoin’s founder may be, there can be no doubt that the invention of Bitcoin shook the world and often to the consternation of many world governments. The reason for Bitcoin’s popularity comes from the fact that Bitcoins are entirely anonymous and untraceable. Hence, this makes Bitcoin extremely useful for those who wish to remain undetected and anonymous.
Each individual Bitcoin has its own corresponding private key which ensures that only the holder of the key has access to his/her Bitcoin wallet. Losing these private keys would mean that your Bitcoins can never be accessed and are lost forever!
Back in November of 2013, James Howells and IT professional accidentally threw away his hard drive that contained the private keys for his Bitcoins. Consequently, he was not able to recover his hard drive and he lost approximately 7500 BTC, and you thought losing your car keys was bad!
Infographic provided by Bitcoin Rush – Online Bitcoin Casino