The min-max values are not specific to C nor to the Nim language. They are a result of conventions for values representations (2's complement). They are usually taught in the first weeks of computer science classes.
The wrapping around mechanism has some uses even though I never used it myself. Sometimes you only need a value modulo 2^64. In python, you still need to understand these hardware limitations for determining floating-point accuracy in your algorithms. Python has only a subset of big integer algorithms implemented though in everyday usage the lack of performance doesn't matter.
