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 Marcus Aurelius used to say: Yippee!
We closed the day, August 24 2020, at a price of $11,774. That’s a minor 0.95 percent increase in 24 hours, or $110. 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 $217,477,962,650. It now commands 61 percent of the total crypto market.
Yesterday’s volume of $20,681,511,755 was the highest in two days, 9 percent below last year’s average, and 72 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 334 tons of gold.
A total of 328,984 transactions were conducted yesterday, which is 2 percent above last year’s average and 27 percent below last year’s high.
Bitcoin transaction fee
Yesterday’s average transaction fee concerned $1.58. That’s $2.32 below last year’s high of $3.91.
Bitcoin distribution by address
As of now, there are 18,729 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 $216 billion, Merck & Co 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 97.8 percent behind being on track. Bitcoin‘s price should have been $536K by now, according to dickline.info.
Bitcoin energy consumption
On a yearly basis Bitcoin now uses an estimated 67 terawatt hour of electricity. That’s the equivalent of Czech Republic’s energy consumption.
Bitcoin on Twitter
Yesterday 32,820 fresh tweets about Bitcoin were sent out into the world. That’s 60.5 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:
Ryanair CEO Micheal O’Leary said “I have never, and would never, invest one cent in Bitcoin” which he likens to a Ponzi scheme https://t.co/DjFNXkECsc
— Cointelegraph (@Cointelegraph) August 24, 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’.