Bill Morgan’s life has been full of luck – good and bad. He should have died in June 1998 and for 14 minutes he did. But somehow doctors managed to revive him after he had a heart attack and spent 15 days in a coma. Mr. Morgan, then 37 and living in a caravan park in Melbourne's outer suburbs, was dubbed a 'medical miracle'.
Bill Morgan decided to try his luck at the lottery. He purchased a scratch-off ticket and instantly won a car – worth about A$30k at the time. Bill was expectedly overjoyed.
This lucky turn of events soon caught the interest of a Melbourne news station. They decided to cover Bill’s story, and this is where things get really interesting. While filming a reenactment of his win, Bill purchased another scratch-off ticket that would prove to be his biggest surprise yet: He had just won A$250k, right on live television.
The extraordinary win and the subsequent call to his fiancee to tell her she could buy a house was shown on Nine's evening news in Melbourne, and then around the world via CNN and the BBC. When Daily Mail Australia contacted Mr. Morgan, now 59, to tell him he was a star all over again, he said he still buys scratchies - but hasn't had that same kind of luck with lotto or his health

#Interesting #SOFR_Spike #Megadrop #FACTS

1. The first commercial bitcoin transaction was for pizza

On May 22, 2010, a man in Florida paid 10,000 bitcoins (BTC) for two pizzas. This is generally recognized as the first bitcoin transaction for a commercial purpose.

At the time, 10,000 bitcoins were worth about $40, making one bitcoin worth a little less than half a cent. If you had that number of bitcoins in September 2022, you'd be a bitcoin millionaire. 10,000 bitcoins have a market value of more than $190 million.

2. There are more than 18.000 cryptocurrencies in existence

As of September 2022, there are more than 12,000 digital currencies in existence. While you can’t buy them all on an exchange, they are out there, some of them requiring their own wallets. This includes many altcoins such as USD coin (USDC), XRP (XRP), solana (SOL), Binance USD (BUSD), and more.   

There are so many coins and tokens available because it’s relatively easy to create a new cryptocurrency and put it out there. But, as of September 2022, the top 20 virtual currencies account for about 87% of the crypto market cap.

3. The total amount of bitcoins is limited

An interesting bitcoin fact is that when the protocol for the bitcoin network was set up, the limit was set at 21 million coins. As a result, at some point, no more new bitcoins can be created by cryptocurrency miners.

When you help complete transactions on the bitcoin blockchain, you’re said to be bitcoin mining by using computing power through a process known as proof of work. You can receive a reward for mining bitcoin in the form of the digital currency itself.

The reward halves every 210,000 blocks, which has worked out to about every four years. As of September 2022, the total number of circulating bitcoin is 19.15 million. This leaves a few million bitcoin yet to be mined, which is part of why mining remains a popular activity.

4. One man wants to excavate a landfill to get his digital wallet back

In 2013, James Howells, who lives in Wales, U.K., threw out a hard drive with 7,500 bitcoins on it. When he realized how much the value of Bitcoin had shot up in recent years, he went looking for the drive. Now, he’s trying to get his local city council to allow him to excavate the landfill in an attempt to find the drive. He’s claiming to offer a portion of the proceeds if the city allows him to look through the trash.

5. Some cryptocurrencies have more uses than as a coin

Some cryptocurrencies have uses beyond just being a coin. The ethereum blockchain technology can be used for more than just processing payments and sending currency.

While you can use ether, the native coin of ethereum, for transactions, the underlying technology isn’t just about a medium of exchange. Ethereum is also used to execute smart contractsand can be used for supply chain management. Other cryptocurrencies even create their coins on the ethereum network.

6. Ethereum fees are referred to as gas

When using the ethereum blockchain to complete transactions, you’re required to pay for gas. On the ethereum network, gas represents the computational effort used to complete the transaction.

Using the network for apps or transactions, even if it’s converting another coin to ether, means you need to pay for gas. Depending on the transaction and traffic on the blockchain, gas fees can feel quite high in some cases.

7. CryptoKitties is one of the first blockchain games

CryptoKitties, one of the first blockchain games, offers a way to breed one-of-a-kind digital cats. CryptoKitties aren’t a currency — instead, they’re part of the non-fungible token (NFT) world.

Each kitty is unique and can’t be replicated. Each one has a unique value, similar to artwork. CryptoKitties is an example of a project built on the Ethereum blockchain.

8. The most expensive CryptoKitty sold for 600 ether

Back in 2018, someone paid 600 ether (ETH) for a CryptoKitty Dragon. At the time of the sale, 600 ether was worth about $170,000. The price of one ether is at $1,290 as of Sept 22, 2022, meaning that 600 ether would be the equivalent of more than $770,000. That’s one expensive digital cat!

9. NFTs aren’t currencies

Even though they grew in popularity in 2021 and are considered digital assets, NFTs aren’t cryptocurrencies. They’re tokens that are not used as a medium of exchange. And NFTs can’t be divided or replicated.

NFTs can be used as alternative investments similar to artwork or collectibles. In fact, that’s how some people see them — digital collectibles and artwork that may potentially grow in value. There are even NFTs, like those offered by NBA TopShot, that operate similarly to digital sports trading cards.

10. Dogecoin started as a joke

One of the hottest cryptocurrencies in 2021 was dogecoin (DOGE), as its market capitalization grew, in part due to support from Elon Musk. However, this cryptocurrency started out as a joke.

The idea was that there were so many coins out there, just being introduced. So the creators of dogecoin invented the cryptocurrency around the image of the surprised-looking Shiba Inu dog. This was a popular meme in 2013 when dogecoin was introduced.

11. The creator (or creators) of bitcoin remains anonymous

Bitcoin is widely credited as being created by Satoshi Nakamoto, a pseudonym that isn't connected to a real person. However, the paper that talked about the protocol was released through a cryptography mailing list and the actual author remains anonymous.

There is a lot of speculation about the identity of Satoshi Nakamoto, but no one knows who he is. No one even knows if they're one person or a group of people.

12. Elon Musk has a lot of pull when it comes to cryptocurrency prices

One person has contributed to huge swings in cryptocurrency prices in 2021 — Elon Musk. When he tweets or talks about cryptocurrencies, the market listens. Or at least his devoted followers do.

Musk has impacted the price of bitcoin, dogecoin, and the cryptocurrency market as a whole, just by making pronouncements about what coins Tesla will accept for car purchases and making comments on Saturday Night Live.

Despite Musk’s antics, many investors still find themselves researching how to invest in Tesla itself.

13. Some countries ban cryptocurrencies

Not every country allows the use of cryptocurrencies. Some countries, like Turkey, don’t allow cryptocurrency payments, while others, like Nigeria, ban cryptocurrency exchanges. One of the most significant bans, though, is China’s ban on financial institutions from providing services related to cryptocurrency transactions in 2021.

It’s practically impossible to actually ban the use of cryptocurrencies, even though countries can regulate access to service providers and shut down exchanges. But with one of the world’s largest economies coming out against cryptocurrencies, it’s hard to say how things will change in the future.

14. China used to account for about 65% of cryptocurrency mining

In May 2021, China proposed consequences for telecommunications companies and others that use their equipment for mining. By August 2021, China had been so effective at cracking down, that the country's share of the global hash rate had fallen to zero. 

Researchers believe some covert mining is still occurring, masked by the use of virtual private networks (VPN). Yet China's swift action and the resulting rapid halt in Chinese cryptocurrency mining operations underscores the vulnerability of the cryptocurrency market to policy decisions by large nations.

15. Cryptocurrency prices are extremely volatile

Cryptocurrency prices are punctuated by wide swings in price. It’s not uncommon for a coin to lose 30% to 50% of its value overnight — and then log huge gains a few days later. It’s a new asset class, and people are trying to figure out how to value various coins.

Additionally, all of the news coverage surrounding cryptocurrencies means there’s a lot of trendiness associated with them. As a result, if something falls out of favor, it may lose value quickly, and you could be left with losses you can’t recover.

16. You still have to pay taxes on your crypto gains

If you invest in cryptocurrencies and see gains, you will have to pay capital gains taxes. Depending on how you manage your cryptocurrencies and how you got them, you might have to pay taxes based on long-term or short-term investment gains or as income.

For example, when I received one bitcoin for an article in 2011, that would have been considered income. Today, though, if I sell the ethereum I bought in 2016-2017, my profits would be long-term capital gains. I experimented with dogecoin back in April, and that resulted in short-term capital gains. All of that is taxed.

#GOATMoments #Interesting #news