Anonymous- is it?
Unlike the myth and fallacy surrounding the concept, bitcoin is not really anonymous. Yes, you heard it right! Hackers and these cyber criminals can get into almost anything. Just not them, the government too. They can trace down almost anything that comes up on the internet cloud.
The data nodes collected on Bitcoin network can help determine the location where the data originated from.
Countries regarding Bitcoin
Due to its uninfluential and independent nature, a lot of government bodies are not in favor of this digital money. It is mainly because it is not in their control. They also see it as a threat to their monetary value. Countries like Japan and Australia see Bitcoin as any other currency. While countries that have unsteady monetary values like Jordan and Lebanon have official statement discouraging the use of the Bitcoin.
The founder of the Bitcoin-only made a fixed amount of these Coins. There are exactly 21 million mines that are available. But they are not all circulated yet. Only 16 million are mined up till now and these are being circulated around. More and more coins are being mined every day by the miners though.
Monopoly, but not Only
Being the pioneer and the head start of the idea, Bitcoin enjoys more media coverage and attention than most of the other cryptocurrencies. But there are more cryptocurrencies actively operating too. Ether, DentaCoin, and Litecoin Cash are also taking place and recognition in the crypto market.
Bitcoin- more popular than you might know
‘The New Gold’ – That’s what the world sees Bitcoin today. The immense popularity and power this decentralized currency is emerging with have enforced governments to put their heads in the Bitcoin world. Superpowers like China and Japan have entered this Armageddon and are supporting and helping the mining of these coins.
Satoshi Nakamoto, a pseudonym behind the whole idea was thought to be a Japanese. There are a number of theories surrounding the emergence of these coins, but there is not a final concluded verdict supporting the impression.
A lot of theories are evolving the name of NSA in the matter but none are openly talking about it. A higher speculation claims that an American computer scientist and cryptographer, Nick Szabo is the real inventor. The claims have been thoroughly denied.
It’s not just used on the black market
Its seen as a common practice that the criminals tend to use a new tech quicker and adapt it more often than the normal citizens. The greatest attraction for these black marketeers was that it had anonymity linked to it no matter where the transaction goes.
But these transactions are not only limited to such users only. Companies like Dell, Microsoft, REEDS Jewelers and Expedia, all accept Bitcoins as means of transaction.
The FBI- largest Bitcoin wallets
FBI accomplished to shut down a major black-market site a few years back. ‘Silk Road’ was one of the largest site operating a great deal of illegal and unlawful activities. The transactions on that site were carried by using Bitcoins. All the coins being circulated were indirectly acquired by the FBI.
FBI now holds around 1.5% of the total coins being circulated in the world. Considering the ownership of a limited number of people in the affair, it surely is quite a lot of share.
Bitcoin- where on your taxes?
The emergence of Bitcoins and other cryptocurrencies has already put governments and financial security agencies at the higher stake. According to Internal Revenue Services (IRS), the U.S government has started to acknowledge these coins as currencies. The IRS categorizes it as current assets like bonds and stocks. So, according to the statement, tax regulations apply to these, as to the other current assets. A tax payable due!
the most expensive pizza
the worlds most expensive pizza was purchased by Laszlo Hanyecz. But how expensive was it? It was more than $198 million! Yes, it was! How did it even happen? So, here is how:
the first legal purchase was done by this person, Laszlo Hanyecz, from Papa Jones. He was a computer programmer and coin holder. He ordered a pizza and decided to pay in Bitcoins. He paid 10,000 Bitcoins which were equivalent to $40 at that time. But today, it cost him in millions! Pretty expensive pizza, right?