Happy Birthday, Bitcoin!

1. Who is Satoshi Nakamoto?

No, unfortunately we do not know the answer to this riddle either. Under the name Satoshi Nakamoto, a paper was published in November 2008 that described the principles of autonomous digital money.

At the latest, when the bitcoins went through the roof, the whole Internet community puzzled who was behind this pseudonym. Bitcoin fans believe that Satoshi Nakamoto is none other than Tesla boss Elon Musk.

Whoever it is actually: The Bitcoin treasure of 5.6 billion euros, which is attributed to the name, has not been touched until today.

2. Silicon Valley is gone

The future is called “Crypto Valley”. In the idyllic Zug in Switzerland there are so many Blockchain startups as in no other place. To date, 100 companies have settled there – and there are more each year.

3. Successful marketing twist

In February 2018, the Steam distribution platform launched a new Windows game, luring users with a special promise: those who first solve the mystery of “MonteCrypto” will receive a Bitcoin.

After all, it took two months until a player managed to earn the price (value at that time: around 7,000 euros). Not much money for a successful campaign, which drew thousands of Bitcoin fans to the game.


4. The first Bitcoin machine in Germany

Germany’s first Bitcoin machine has been in Munich for a few days. Namely in the “monte24” arcade on Frankfurter Ring. There is a good reason why it took a particularly long time in this country to set up an ATM:

So far, the Federal Financial Supervisory Authority (Bafin) was considered the highest authority in terms of trading in the cryptocurrency. According to a recent court ruling by the Berlin Court of Appeal, the Bafin no longer has to agree to Bitcoin trading.

Also interesting: The Start-up Centrifuge revolutionizes the financial technology with Blockchain

5. Bitcoins misplaced? This is not an isolated case!

According to a study by the Universities of San Diego and George Mason, 64 percent of Bitcoins that have been mined so far have never been used, and most likely never will.

Accordingly, a large part of the cryptocurrency was probably lost or the possessions simply forgotten.

6. Unjust distribution of property

Over 40 percent of the entire Bitcoin assets are owned by only 1,000 people. According to various media reports, they hold a total of 5,638,155 bitcoins, while 90 percent of Bitcoin owners own less than 0.1 bitcoin.

7. The FBI mixes with the front

In September 2013, the FBI smashed the infamous dark web drug bazaar Silk Road, seizing 144,000 bitcoins.

A recent report from the tech portal Wired According to Satoshi Nakamoto, the FBI now has access to bitcoins worth a total of $ 120 million, making it the second richest Bitcoin owner. In October 2017, the American secret service thus had 1.5 percent of all Bitcoins previously mined.

8. Bitcoins are not for friends of sustainability

A Bitcoin transaction consumes 3,994 times more energy than a credit card transaction. The mining of bitcoin consumes more than 29 billion kilowatt hours per year. That is about half of the electricity consumption in Switzerland.

9. Bitcoin owners do not believe in taxes

According to San Francisco court records, in the United States in 2016, only 807 people reported their Bitcoin assets in their tax returns.

10. Speaking of, tax …

According to the Federal Ministry of Finance, cryptocurrencies are not capital investments in this country, but assets such as precious metals, antiques or real estate.

Thanks to a ruling by the European Court of Justice (ECJ), no sales tax will be payable, but the profits will fall under the normal income tax.

Also interesting: Blockchain in practical use

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