Cryptocurrency Facts You Probably Never Knew

Cryptocurrency, it’s everywhere—currency of the future, a veritable revolution in finance—but how much do we know about it? And do you know the reasons it’s taking over the online casino world?

Weird world of cryptocurrency

Why don’t we fill you in on some of the most interesting facts about this mysterious new payment system that’s taking over the world! We’ve got lots of weird and wonderful cryptocurrency facts that you’ll love.

The Inventor of Bitcoin was a Ghost

We still don’t know for sure who the person or people who invented Bitcoin are. The name we have, Satoshi Nakamoto, is a pseudonym. We do however know, that this mysterious person or entity didn’t intend to develop a cryptocurrency, they just wanted to create a decentralised financial system that wasn’t pegged to a localised currency.

Online Casino and Cryptocurrency

A few reputable gambling jurisdictions, like Curacao and the UK, issue licenses to online casinos who accept Bitcoin and other cryptocurrencies. If online casino follows the regulations of the license jurisdiction, it’s perfectly legal. Some casino players from countries with very restrictive online casino laws, like the United States, use Bitcoin to play online casino, although this is not strictly legal.

Satoshi is Smaller Amounts of Bitcoin

As Bitcoin grows in value, smaller portions of the currency are more widely being used. These small amounts of Bitcoin are called Satoshi and Millibitcoin. At 0.00000001 of a bitcoin, Satoshi is the smallest amount you can get.

The First Purchase with Bitcoin was Pizza

The first ever Bitcoin purchase was two Papa John’s pizzas and the cost the Hungarian programmer, Laszlo Hanyecz, 10,000 BTC. This was in 2010, that purchase by 2018’s Bitcoin value would be worth around $180 million. That’s an expensive casino.

Don’t Lose your Crypto Wallet

If you lose access to your cryptocurrency wallet, which is essentially software that stores Blockchain information, you will lose access to your cryptocurrency. You should always make safe copies of your crypto address.

There are Over 6 Million Crypto Wallets

We can’t say with certainty how many crypto wallets exist, but we estimate it’s somewhere between to the 6 million and 12 million. That’s individual wallets and these wallets usually store keys (information) for more than one digital currency.

A new Ethereum compatible hardware roulette table has been created and could be available in real Vegas casinos by next year. The roulette table or ‘SmartBox’ machines will support lots of casino games like slots, poker, roulette, bingo, and blackjack. The machines will have both a touchscreen and a QR scanner that will read crypto wallets.

The FBI Loves Bitcoin

Surprisingly, The FBI own one of the largest Bitcoin wallets. It’s estimated that their Bitcoin wallet is worth $120 million.

There is a Finite Amount of Bitcoins

There isn’t an infinite supply of Bitcoins. There are 21 million units and no more. After the year 2140, no new Bitcoins will be available to mine.