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50 Fascinating Facts About Bitcoin

Tyler Durden's picture




 

We have previously illustrated how a Bitcoin transaction works, and the history of the virtual currency, However, we thought that this infographic neatly covered many interesting bitcoin facts in a digestable form. It not only shows the versatility of the bitcoin market, but it also captures the difference of opinion on cryptocurrencies: many embrace the technology, but some institutions show signs of hostility. Chinese banks have banned bitcoin trading and Thailand outlawed it straight up.

 

Click image for huge legible version

 

Source: VisualCapitalist

 

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Sat, 06/14/2014 - 14:26 | 4856938 shouldvekilledthem
shouldvekilledthem's picture

THEY ARE POWERLESS TO STOP IT

It's not that stupid if you consider that bitcoin is not affected by borders.

It's a global system and it will work as long as people trust it and as long as there are any number of miners and nodes. The only rules are the ones implemented in the source code and every single participant have to obey it equally.

The current fiat system does not ask for your trust and It's forced upon everyone. If it fails usually people like you gets the bill and forced in another round of the fiat ponzi.

 

 

Sat, 06/14/2014 - 20:01 | 4857565 crazytechnician
crazytechnician's picture

Naa, fuck bitcoin,

1). Hire a boat , a Sat-Nav and some diving gear.

2). Get a map and choose some nearby random lake.

3). Bury your shiny at said location on map using GPS.

That is the Real Future of Money people !!

While you are at it you can open up a nice cold can of 20 year old prepper food. You will find it down in the damp bunker just next to the instruction's on what to do when the government shut down the power grid and the internet - to stop bitcoin. Don't forget to keep the matches and candle dry , otherwise you will have to wait for daylight for a re-cap.

Sat, 06/14/2014 - 21:07 | 4857695 epwpixieq-1
epwpixieq-1's picture

530 cryptocoins and counting: com-http.us

over 120% increase since 4 month ago when the number was 237, by the end of the year over 1,000 in 2 years 5,000.

the problem with the cryptocoins is that they are IDEAs backed only by the will of the people willing to use them. It is true, one can bypass the entire corrupted financial system but, hey as long as you can agree on any other idea about exchange why even bother with this technology, unless there is a way to back them by something physically limited.

May be hydrogen atoms ...

Sat, 06/14/2014 - 21:17 | 4857715 Dr. Everett V. Scott
Dr. Everett V. Scott's picture

"the problem with the cryptocoins is that they are IDEAs backed only by the will of the people willing to use them."

And what makes them any different from fiat?

There is a reason that bitcoins have real value. Think about it.

Sat, 06/14/2014 - 22:35 | 4857854 TheHound73
TheHound73's picture

The number of crypto currencies that can be created is in the same order of magnitude as the number of novels that can be written.  Only a few become best sellers.  Liquidty and security are what most people are concerned about when they invest 20x more into Bitcoin than all other cryptocurrencies combined.  This is not 100% guaranteed to carry forward into the future, therefore it is probably best you stay right where you are on the sidelines.

Sat, 06/14/2014 - 21:22 | 4857725 Dr. Everett V. Scott
Dr. Everett V. Scott's picture

truth serum says:

"OK boys & girls......here is the "skinny" on bitcoin:

It has NO INTRINSIC VALUE, therefor it is only as good as the NEXT GREATER FOOL is willing to pay.  It should be called a 

Kleptocurrency (as in theft).  It defys the laws of thermodynamics.....as in something can't come from nothing."

So, what is the difference between a bitcoin & a USD?

 

Anyone?  Bueller? Anyone?...

Sat, 06/14/2014 - 23:31 | 4857933 deflator
deflator's picture

USD is backed by military force? USD is backed by belief that past 150 years of persistent economic growth will be extrapolated indefinitely into the future? USD is backed by perception that U.S. can not only maintain production of major commodities like crude oil and wheat it can grow daily sustainable numbers?

 

 I think I left one base uncoverd, care to elaborate docster??

Sun, 06/15/2014 - 00:15 | 4857985 TheHound73
Sat, 06/14/2014 - 23:44 | 4857947 deflator
deflator's picture

Can you believe this shit? I literally have 5 teenage boys in my house right now and everyone of them and their parents  knows more about bitcoin then I do. 

 They are looking over my shoulder when I am posting and telling me I am full of shit about bitcoin cuz their momz bought bitcoinz.

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