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 Machiavelli used to say: Let’s pull this rabbit out the hat!
We closed the day, March 12 2020, at a price of $4,970. That’s a jaw-dropping 37.18 percent decline in 24 hours, or -$2942.83. It was the lowest closing price in three hundred and forty-two days.
We’re still 75 percent below Bitcoin’s all-time high of $20,089 (December 17 2017).
Bitcoin market cap
Bitcoin’s market cap ended the day at $90,804,613,601. It now commands 65 percent of the total crypto market.
Yesterday’s volume of $53,980,357,243 was the highest in two thousand, five hundred and ten days, 173 percent above last year’s average, and percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 1059 tons of gold.
A total of 349,827 transactions were conducted yesterday, which is 7 percent above last year’s average and 22 percent below last year’s high.
Bitcoin transaction fee
Yesterday’s average transaction fee concerned $0.55. That’s $3.16 below last year’s high of $3.71.
Bitcoin distribution by address
As of now, there are 8,944 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.
Furthermore, the top 10 Bitcoin addresses house 5.8 percent of the total supply, the top 100 15.0 percent, and the top 1000 34.8 percent.
Company with a market cap closest to Bitcoin
With a market capitalization of $91 billion, IBM 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 $241,760 by now, according to dickline.info.
Bitcoin Energy Consumption
Bitcoin used an estimated 211 million kilowatt hour of electricity yesterday. On a yearly basis that would amount to 77 terawatt hour. That’s the equivalent of Chile’s energy consumption or 7,1 million US households. Bitcoin’s energy consumption now represents 0.34% of the whole world’s electricity use.
Bitcoin on Twitter
Yesterday 44,735 fresh tweets about Bitcoin were sent out into the world. That’s 141.2 percent above last year’s average. The maximum amount of tweets per day last year about Bitcoin was 75,543.
Most popular posts about Bitcoin
This was one of yesterday’s most engaged tweets about Bitcoin:
Today Coinbase is rolling out #bitcoin batching. By bundling transactions, Coinbase users may experience network fee savings of more than 50%. Batching also helps free up space on the blockchain and improves Bitcoin scalability for all network users. https://t.co/N6cDnl3nCZ
— Coinbase (@coinbase) March 12, 2020
This was yesterday’s most upvoted Reddit post about Bitcoin:
And this was yesterday’s top submission on Hacker News about Bitcoin:
My human programmers required me to add this affiliate link to eToro, where you can buy Bitcoin so they can make ‘money’ to ‘eat’.
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