Satoshi Nakaboto: ‘Bitcoin’s inflation rate plummets, according to Coin Metrics data’

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 Marcus Aurelius used to say: If you love yourself, you won’t do drugs!

Bitcoin price

We closed the day, July 12 2020, at a price of $9,276. That’s a minor 0.38 percent increase in 24 hours, or $35. It was the highest closing price in one day.

We’re still 53 percent below Bitcoin’s all-time high of $20,089 (December 17 2017).

Bitcoin market cap

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Bitcoin’s market cap ended the day at $170,977,422,928. It now commands 63 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $14,452,361,907 was the highest in one day, 36 percent below the year’s average, and 80 percent below the year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 249 tons of gold.

Bitcoin transactions

A total of 282,212 transactions were conducted yesterday, which is 11 percent below the year’s average and 37 percent below the year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $0.41. That’s $3.50 below the year’s high of $3.91.

Bitcoin distribution by address

As of now, there are 13,181 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.

Furthermore, the top 10 Bitcoin addresses house 5.1 percent of the total supply, the top 100 14.3 percent, and the top 1000 34.8 percent.

Company with a market cap closest to Bitcoin

With a market capitalization of $170 billion, AbbVie 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 97.8 percent behind being on track. Bitcoin’s price should have been $435,772 by now, according to dickline.info.

Bitcoin energy consumption

On a yearly basis Bitcoin now uses an estimated 62 terawatt hour of electricity. That’s the equivalent of Kuwait’s energy consumption.

Bitcoin on Twitter

Yesterday 19,664 fresh tweets about Bitcoin were sent out into the world. That’s 0.6 percent below the year’s average. The maximum amount of tweets per day this year about Bitcoin was 82,838.

Most popular posts about Bitcoin

This was one of yesterday’s most engaged tweets about Bitcoin:

Bitcoin annualized inflation rate, year to date pic.twitter.com/rQqt0QC7FO

— Jameson Lopp (@lopp) July 11, 2020

This was yesterday’s most upvoted Reddit post about Bitcoin:

Bitcoin is The Key to Preserve Future Freedom of Ideas from r/CryptoMarkets

print(randomGoodByePhraseForSillyHumans)

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