13 Digital Facts About Cryptocurrencies

Elon Musk hasn’t exactly done wonders for Bitcoin’s value.
13 Digital Facts About Cryptocurrencies

Cryptocurrency is a strange sector for many people. With the passage of time, an increasing number of people are now becoming attracted to it and attempting to spend money and invest in new currencies. However, there are a few aspects concerning digital currencies that we bet you didn't know. 

You may not know this, but cryptocurrencies are intentionally limited in supply. If you believe you could acquire an infinite amount of cryptocurrency, think again. Cryptocurrencies, like oil or gold, are finite resources. This is why the worth of bitcoin and other cryptocurrencies continues to rise as production decreases. We’ll tell you this though: we sure wish we were the guy who sold two slices of pizza for 5,000 bitcoin a pop!

You may believe that Technoking Elon did nothing but increase the quality of Bitcoins, Lite coins, and every other crypto that rode on their coattails. However, he's responsible for crypto losing hundreds of billions of dollars in value. Here's the whole enchilada, plus 12 more:

In 2018, 50 Cent realized he had a bunch of Bitcoins (worth millions at that point). When his album Animal Ambition came out in 2014, he became the first artist to accept BTC and received 700 BTC. 4 years later, that pile was worth $8 million. NOW YOU KNOW CRACKED.COM

Source: BBC

As of May 2021, Bitcoin eats up about 0.55% of the world's electricity production. The rough amount is 110 Terawatt Hours per year, which is basically the same as the power consumption of a small country, like Malaysia or Sweden. NOW YOU KNOW CRACKED.COM

Source: HBR

The total value of all cryptocurrencies is now roughly equal to the money spent on gold. GOLD 10006 FINE GOLD 999.9 FINE FINE GOLD COLD 999.3 reserved 1000g 1000g thom In early May, the total value of crypto was about $2.4 trillion, and the total value of money invested in gold was about $2.6 trillion. NOW YOU KNOW CRACKED.COM

Source: WSJ

In 2018, Russian nuclear scientists were arrested for Bitcoin mining on the job. B B. and (illustration) Apparently, they tried to use one of the most powerful supercomputers in Russia, at a top-secret nuclear warhead facility, to mine BTC. NOW YOU KNOW CRACKED.COM

Source: BBC

Tesla and Bitcoin

Tesla dropping BTC as a payment method wiped out about $365 billion. The total value of all cryptos, including Bitcoin, dropped by roughly that much after Elon Musk tweeted that Tesla would no longer accept car purchases in Bitcoin. NOW YOU KNOW CRACKED.COM

Source: CNBC

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