10 things most people probably don't realize about bitcoin

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Unless you completely avoid the internet (which clearly you don't if you're on this site), you've probably heard about bitcoin. We've even written about it before.

With all the hype around bitcoin, we think there are a few extra important pieces of information you should know.

Here are 10 interesting facts about bitcoin:

 

1. It's not really anonymous

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Trying to explain the entirety of why bitcoin isn't anonymous would take forever, and even I don't understand it as well as hackers and other technology junkies.

I covered this point in my previous bitcoin guide, but it bears repeating.

Bitcoin isn't completely anonymous.

Hackers and government agencies have the means to track pretty much anything, including bitcoin. If someone can connect multiple nodes to the bitcoin network, the combined data collected from these different nodes might be enough to determine where a transaction originated.

For a more complete explanation of bitcoin's anonymity, check out this article.

2. Different countries regard bitcoin differently

Typically, bitcoin is not regulated by national governments—which is part of the reason it's so popular. But the laws around bitcoin range from it being recognized as legal currency to being "discouraged" by governments.

Australia and Japan, for example, treat bitcoin like any other form of currency. While Jordan and Lebanon have issued official statements saying they don't support the use of bitcoin. This doesn't prevent citizens of these countries from using bitcoin, however.

Here's a list of how a number of countries treat bitcoin around the world.

3. There's a limited amount

When bitcoin was founded—the creator (see number six below) only made a limited amount. 21 million to be exact. Currently, over 16 million are in circulation, but more are being mined every day.

 

See the rest of the story at Business Insider