Here are some dark facts about Bitcoin that not many people know, and are rarely discussed on the surface:
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1. 🧨 Bitcoin Once Had a Fatal Bug That Could Mint Unlimited Coins
In 2010, a serious bug called the "Value Overflow Incident" was discovered, allowing someone to create more than 184 billion BTC in a single transaction — when the maximum supply should only be 21 million! Fortunately, this bug was quickly fixed and the blockchain was rolled back.
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2. 👥 Bitcoin Is Not Fully Decentralized
Although claimed to be "decentralized", in reality, most of the mining power is controlled by a handful of large pools. If 2–3 large pools join forces, they could execute a 51% attack, meaning they could falsify transactions.
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3. 🧠 Many Bitcoin Developers Are Anonymous or Have Disappeared
Satoshi Nakamoto is not the only one. Some early Bitcoin developers like Hal Finney, Gavin Andresen, and others have passed away, retired, or disappeared without a trace, leaving this project directionless from its "creator".
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4. 🪤 Many People Have Been Tricked Through Bitcoin-Masked Ponzi Schemes
Bitcoin is often used as bait for scams. For example: PlusToken (China) siphoned billions of dollars from millions of investors under the guise of crypto investments. Thousands of victims lost their life savings.
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5. 📉 Bitcoin Has Experienced Many Brutal Crashes
BTC once plummeted from $20,000 to $3,000 (2018), then from $69,000 to $16,000 (2022). Many novice investors suffered huge losses due to FOMO without education, especially when entering at the peak of euphoria.
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6. ⚠️ Bitcoin Was Once Considered a Threat by Major Countries
Countries like China and India have previously completely banned Bitcoin, citing risks to financial stability and facilitating crime. China even banned all mining and trading activities in 2021.
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7. ⚰️ Bitcoin Can Be Lost Forever If the Owner Dies Without Bequeathing the Private Key
Unlike bank accounts, if you die without informing anyone of your Bitcoin wallet's private key, that asset is lost forever.
