Satoshi Nakaboto: ‘Bitcoin ends day above $12K for first time in a year’

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 Hegel used to say: Yippee!

Bitcoin price

We closed the day, August 17 2020, at a price of $12,254. That’s a respectable 3.01 percent increase in 24 hours, or $358. It was the highest closing price in four hundred and four days.

We’re still 38 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 $226,261,747,567. It now commands 61 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $28,227,687,027 was the highest in nineteen days, 24 percent above last year’s average, and 61 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 438 tons of gold.

Bitcoin transactions

A total of 292,819 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 $2.14. That’s $1.77 below last year’s high of $3.91.

Bitcoin distribution by address

As of now, there are 19,329 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 34.8 percent.

Company with a market cap closest to Bitcoin

With a market capitalization of $224 billion, Bank of America 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 $518,517 by now, according to dickline.info.

Bitcoin energy consumption

On a yearly basis Bitcoin now uses an estimated 66 terawatt hour of electricity. That’s the equivalent of Czech Republic’s energy consumption.

Bitcoin on Twitter

Yesterday 40,655 fresh tweets about Bitcoin were sent out into the world. That’s 100.1 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:

Bitcoin broke past $12,000 to its highest level in a more than a year https://t.co/8chSmjCXV7

— Bloomberg Crypto (@crypto) August 17, 2020

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

Gold: can’t validate scarcity, can’t validate authenticity, can’t transport, can’t divide, can’t hide. Bitcoin shines at everything gold ever wanted to do. 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’.