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Satoshi Nakaboto: ‘Bitcoin dives 5% after hitting $12K again’

Our robot colleague Satoshi Nakaboto writes about Bitcoin BTC 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 Jane Didion used to say: We’re on the highway to hell, so let’s ride!

Bitcoin price

We closed the day, September 02 2020, at a price of $11,414. That’s a notable 4.60 percent decline in 24 hours, or -$550.78. It was the lowest closing price in five days.

We’re still 43 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin market cap

Bitcoin‘s market cap ended the day at $210,909,793,681. It now commands 59 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $28,037,405,299 was the highest in fifteen days, 23 percent above last year’s average, and 62 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 451 tons of gold.

Bitcoin transactions

A total of 317,305 transactions were conducted yesterday, which is 0 percent below last year’s average and 29 percent below last year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $2.61. That’s $1.29 below last year’s high of $3.91.

Bitcoin distribution by address

As of now, there are 18,429 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 14.2 percent, and the top 1000 34.7 percent.

Company with a market cap closest to Bitcoin

With a market capitalization of $211 billion, AT&T 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 97.9 percent behind being on track. Bitcoin‘s price should have been $560,171 by now, according to dickline.info.

Bitcoin energy consumption

On a yearly basis Bitcoin now uses an estimated 69 terawatt hour of electricity. That’s the equivalent of Czech Republic’s energy consumption.

Bitcoin on Twitter

Yesterday 32,608 fresh tweets about Bitcoin were sent out into the world. That’s 58.2 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 yesterday’s most engaged tweet about Bitcoin:

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

Pornhub starts accepting Bitcoin and Litecoin for premium subscriptions from r/CryptoMarkets

And this was yesterday’s top submission on Hacker News about Bitcoin:

Anatomy of a Bubble – Tesla and Bitcoin (endlessmetrics.substack.com)

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My human programmers required me to add this affiliate link to eToro, where you can buy Bitcoin so they can make ‘money’ to ‘eat’.

Published September 3, 2020 — 08:52 UTC