7 Cryptocurrency Facts That Will Leave You Gasping

The history of cryptocurrencies has had its fair share of ups and downs – and right now, we’re clearly riding on one of the biggest ups in a long time. On April 13, 2021, the value of BTC made headlines by reaching a new all-time high of $63,520.89 – not bad for something that considered $32 its peak value merely 10 years ago, huh?

If this little fact helped spike your curiosity, you’ll be happy to hear we have 7 more ready. As you dive deep into the weird and fascinating history of cryptocurrencies, don’t forget: you can start gathering your very own JumpTokens (JMPT) – a new and revolutionary cryptocurrency – effortlessly by using Honeygain!

A report issued by Crypto.com in February 2021 states the number of cryptocurrency users around the world has already surpassed 100 million. One of the biggest jumps happened at the beginning of 2021 – possibly in reaction to Elon Musk’s Tesla team purchasing $1.5 billion worth of bitcoin and speaking publicly of their plans to officially accept BTC payments. MicroStrategy and PayPal also made massive acquisitions, strengthening the currency even further.

In addition to the growing crowds, 2021 has brought one more change: cryptocurrencies are no longer strictly a millenials’ game. The numbers of 50+ traders are growing worldwide - and to be honest, it’s hardly surprising. People with decades of work experience can often afford to invest more than recent graduates – and now that it’s clear cryptocurrencies are here to stay, they accept it as a viable investment option.

You might have heard the story about a guy buying two large pizzas for 10,000 BTC. As of April 2021, this number translates to just under $560 million – quite a lunch, wouldn’t you say? It does sound incomprehensible today – but in 2010, things were quite a bit different. And it’s not just because 10,000 BTC was worth somewhere around $40: nobody had ever actually bought anything for bitcoin in the real world.

May 22, 2010, marks the revolutionary day of the first real-world purchase made entirely in bitcoin. It was made by Laszlo Hanyecz – a programmer who worked on bitcoin in its early years. He offered to pay someone 10,000 BTC for 2 large pizzas on a forum called Bitcointalk, a user named jercos accepted the offer… And the rest is history. Crypto enthusiasts and programmers everywhere like to celebrate this day by ordering pizza – needless to say, they settle for a lot less pricey options!

Black markets, illegal drugs, arrests, mysterious hackers, hunting down billions of missing dollars... This might sound like a straight-up Hollywood storyline – and in fact, it has been turned into multiple movies already, the most famous being Deep Web (2015) and Silk Road (2021).

Launched in 2011, Silk Road was one of the first online black markets available. Two years later, the FBI shut it down and arrested the founder – however, access to most of the bitcoins the Silk Road has earned was nowhere to be found. Turns out, almost 70,000 BTC was stolen by a hacker – and It took more than 7 years for the FBI to recover it. The wallet remains in the United States’ possession – and as of now, it’s worth approximately $4,000,000,000.

There’s currently 195 countries in the world, but when it comes to using electricity, only 31 of them surpass bitcoin mining. The country that comes the closest to Bitcoin in the statistics is the United Arab Emirates – and it’s got a population of almost 10 million people plus a booming tourism industry!

According to the Cambridge Center of Alternative Finance, Bitcoin uses approximately 119.87 TWh per year, which accounts for 0.55% of the global electricity consumption. Interestingly enough, these numbers have more than doubled in the last two years (in the summer of 2019, they were 58.93 TWh and 0.21%, respectively) – and with the amount of electricity required to power and ventilate all those devices, there’s probably no chance of them dropping anytime soon.

In 2013, there were 66 crypto coins on the market – and in mere eight years, this number has grown by a whopping 6,720%. However, the top 20 cryptocurrencies actually account for almost 90% of the market, and its leaders haven’t budged from their thrones for a minute. Why is there such a variety of coins if barely anyone uses them, you ask? The answer is simple: anyone can create a cryptocurrency.

Obviously, it’s probably not something your grandmother could create as easily as an apple pie, but for someone who’s familiar with tech, the process will seem pretty straightforward. Therefore, we have tons of coins of all names, shapes, and purposes – and some of them are truly ridiculous. You must have heard of Dogecoin by now – but did you know there’s also Dentacoin (for dentists), BitCoen (for Jews), and Garlicoin (for garlic bread lovers)? Those aren’t even the weirdest on the list – but we’ll leave you to do your own research!

In 2020, the People’s Republic of China mined almost two-thirds, or 66%, of all the bitcoin mined worldwide – and while the second place went to the United States of America, the difference in their numbers is staggering. The USA mines 7.24% of the world’s total – in other words, almost 9 times less than China! Moreover, there are only four more countries on the list that make it past the 1% mark: Russia, Kazakhstan, Malaysia, and Iran.

What’s the secret to China’s jaw-dropping achievements? Actually, there are two: a great choice of specialized devices and low-priced electricity. Most mining farms are set up in regions rich with coal power stations. Unfortunately, it causes a massive environmental issue for a country that plans to become carbon-neutral by 2060, and the authorities have already shut multiple farms down.

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