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 Descartes used to say: Yolo!
We closed the day, May 11 2020, at a price of $8,601. That’s a minor 1.75 percent decline in 24 hours, or -$153.74. It was the lowest closing price in twelve days.
We’re still 57 percent below Bitcoin’s all-time high of $20,089 (December 17 2017).
Bitcoin market cap
Bitcoin’s market cap ended the day at $158,059,235,276. It now commands 68 percent of the total crypto market.
Yesterday’s volume of $57,119,858,802 was the lowest in one day, 155 percent above the year’s average, and 22 percent below the year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 1042 tons of gold.
A total of 305,682 transactions were conducted yesterday, which is 5 percent below the year’s average and 32 percent below the year’s high.
Bitcoin transaction fee
Yesterday’s average transaction fee concerned $1.49. That’s $2.22 below the year’s high of $3.71.
Bitcoin distribution by address
As of now, there are 12,461 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.
Furthermore, the top 10 Bitcoin addresses house 5.3 percent of the total supply, the top 100 14.7 percent, and the top 1000 35.0 percent.
Company with a market cap closest to Bitcoin
With a market capitalization of $157 billion, China Mobile 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 97.2 percent behind being on track. Bitcoin’s price should have been $323,016 by now, according to dickline.info.
Bitcoin Energy Consumption
Bitcoin used an estimated 191 million kilowatt hour of electricity yesterday. On a yearly basis that would amount to 70 terawatt hour. That’s the equivalent of Colombia’s energy consumption or 6.4 million US households. Bitcoin’s energy consumption now represents 0.31% of the whole world’s electricity use.
Bitcoin on Twitter
Yesterday 82,838 fresh tweets about Bitcoin were sent out into the world. That’s 332.0 percent above the year’s average. On top of that, it’s highest amount of tweets about Bitcoin per day recorded this year.
Most popular posts about Bitcoin
This was one of yesterday’s most engaged tweets about Bitcoin:
The final Bitcoin block with a subsidy of 12.5 BTC was mined by @f2pool_official and contained the following message in its coinbase transaction:
🐟NYTimes 09/Apr/2020 With $2.3T Injection, Fed's Plan Far Exceeds 2008 Rescuehttps://t.co/9dtTrC8YH6
— Jameson Lopp (@lopp) May 11, 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’.