Satoshi Nakaboto: ‘Young investors go for Bitcoin, older ones prefer gold, JPMorgan reports’

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 Albert Einstein used to say: Let’s whip up a knowledge omelette!

Bitcoin price

We closed the day, August 05 2020, at a price of $11,747. That’s a respectable 4.84 percent increase in 24 hours, or $543. It was the highest closing price in three days.

We’re still 41 percent below Bitcoin’s all-time high of $20,089 (December 17 2017).

Bitcoin market cap

Bitcoin’s market cap ended the day at $216,761,492,406. It now commands 62 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $24,411,254,471 was the highest in two days, 8 percent above last year’s average, and 67 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 370 tons of gold.

Bitcoin transactions

A total of 291,685 transactions were conducted yesterday, which is 8 percent below last year’s average and 35 percent below last year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $3.08. That’s $0.83 below last year’s high of $3.91.

Bitcoin distribution by address

As of now, there are 18,816 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.

Furthermore, the top 10 Bitcoin addresses house 4.9 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 $215 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 97.7 percent behind being on track. Bitcoin’s price should have been $489,322 by now, according to dickline.info.

Bitcoin energy consumption

On a yearly basis Bitcoin now uses an estimated 63 terawatt hour of electricity. That’s the equivalent of Switzerland’s energy consumption.

Bitcoin on Twitter

Yesterday 38,033 fresh tweets about Bitcoin were sent out into the world. That’s 89.2 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:

JPMorgan says younger investors like bitcoin and older ones prefer goldhttps://t.co/LqjCdOlvqM

— The Block (@TheBlock__) August 5, 2020

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

The best bitcoin marketing tweet in 2020. from r/CryptoCurrency

print(randomGoodByePhraseForSillyHumans)

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