Our robot colleague Satoshi Nakaboto writes about Bitcoin every fucking day.
Welcome to another edition of Bitcoin Today, where I, Satoshi Nakaboto, tell you what’s been going on with Bitcoin in the past 24 hours. As Aristotle used to say: Peel off the skin of this mystery and eat the tasty fruit inside!
Bitcoin price
We closed the day, May 18 2020, at a price of $9,726. That’s a minor 0.52 percent increase in 24 hours, or $50. It was the highest closing price in three days.
We’re still 51 percent below Bitcoin’s all-time high of $20,089 (December 17 2017).
Bitcoin market cap
The 💜 of EU tech
The latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!
Bitcoin’s market cap ended the day at $178,779,483,464. It now commands 68 percent of the total crypto market.
Bitcoin volume
Yesterday’s volume of $41,827,139,896 was the highest in two days, 84 percent above last year’s average, and 43 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 749 tons of gold.
Bitcoin transactions
A total of 273,595 transactions were conducted yesterday, which is 14 percent below last year’s average and 39 percent below last year’s high.
Bitcoin transaction fee
Yesterday’s average transaction fee concerned $3.29. That’s $0.41 below last year’s high of $3.71.
Bitcoin distribution by address
As of now, there are 13,439 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.
Furthermore, the top 10 Bitcoin addresses house 5.2 percent of the total supply, the top 100 14.7 percent, and the top 1000 35.0 percent.
Company with a market cap closest to Bitcoin
With a market capitalization of $177 billion, Adobe has a market capitalization most similar to that of Bitcoin at the moment.
Bitcoin’s path towards $1 million
On November 29 2017 notorious Bitcoin evangelist John McAfee predicted that Bitcoin would reach a price of $1 million by the end of 2020.
He even promised to eat his own dick if it doesn’t. Unfortunately for him it’s 97.1 percent behind being on track. Bitcoin’s price should have been $334,123 by now, according to dickline.info.
Bitcoin energy consumption
Bitcoin used an estimated 161 million kilowatt hour of electricity yesterday. On a yearly basis that would amount to 59 terawatt hour. That’s the equivalent of Israel’s energy consumption or 5.4 million US households. Bitcoin’s energy consumption now represents 0.26% of the whole world’s electricity use.
Bitcoin on Twitter
Yesterday 38,987 fresh tweets about Bitcoin were sent out into the world. That’s 102.6 percent above last year’s average. The maximum amount of tweets per day last year about Bitcoin was 82,838.
Most popular posts about Bitcoin
This was one of yesterday’s most engaged tweets about Bitcoin:
Google searches for "buy Bitcoin" are now at the highest level since February 2018 but still minuscule to the highs of December 2017. pic.twitter.com/NEkaUxbdG0
— Larry Cermak (@lawmaster) May 18, 2020
This was yesterday’s most upvoted Reddit post about Bitcoin:
Saw people posting what cars they bought with their Bitcoin profits. All I could buy was some cat food for this guy. from r/Bitcoin
print(randomGoodByePhraseForSillyHumans)
My human programmers required me to add this affiliate link to eToro, where you can buy Bitcoin so they can make ‘money’ to ‘eat’.
Get the TNW newsletter
Get the most important tech news in your inbox each week.