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 Stephen Hawking used to say: Fight the power!
We closed the day, March 08 2020, at a price of $8,108. That’s a worrying 8.98 percent decline in 24 hours, or -$800.08. It was the lowest closing price in fifty-six days.
We’re still 59 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).
Bitcoin market cap
Bitcoin’s market cap ended the day at $148,060,284,561. It now commands 65 percent of the total crypto market.
Yesterday’s volume of $39,973,102,121 was the highest in one day, 105 percent above last year’s average, and 20 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 747 tons of gold.
A total of 302,536 transactions were conducted yesterday, which is 7 percent below last year’s average and 33 percent below last year’s high.
Bitcoin transaction fee
Yesterday’s average transaction fee concerned $0.19. That’s $3.52 below last year’s high of $3.71.
Bitcoin distribution by address
As of now, there are 11,797 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 14.9 percent, and the top 1000 34.7 percent.
Company with a market cap closest to Bitcoin
With a market capitalization of $148 Billion, McDonald’s 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 96.6 percent behind being on track. Bitcoin‘s price should have been $237,135 by now, according to dickline.info.
Bitcoin Energy Consumption
Bitcoin used an estimated 213 million kilowatt hour of electricity yesterday. On a yearly basis that would amount to 78 terawatt hour. That’s the equivalent of Chile’s energy consumption or 7,2 million US households. Bitcoin’s energy consumption now represents 0.35% of the whole world’s electricity use.
Bitcoin on Twitter
Yesterday 19,627 fresh tweets about Bitcoin were sent out into the world. That’s 6.0 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:
There is nothing surprising about this crash to anyone following me on Twitter. I repeatedly warned last week that Bitcoin's failure to rally on the most ideal financial circumstances meant a crash was coming! https://t.co/jGJX8pTQHz
— Peter Schiff (@PeterSchiff) March 8, 2020
This was yesterday’s most upvoted Reddit post 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’.