Sunday , December 6 2020

Satoshi Nakaboto: ‘Bitcoin crashes another 10% as stock markets plunge’

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Inside money, markets, and big tech

Our robot colleague Satoshi Nakaboto writes about Bitcoin BTC 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 Jane Didion used to say: Let’s make it rock!

We closed the day, September 03 2020, at a price of $10,245. That’s a very concerning 10.18 percent decline in 24 hours, or -$1161.89. It was the lowest closing price in thirty-eight days.

We’re still 49 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin‘s market cap ended the day at $189,322,069,063. It now commands 59 percent of the total crypto market.

Yesterday’s volume of $31,927,261,555 was the highest in thirty-seven days, 41 percent above last year’s average, and 56 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 512 tons of gold.

A total of 310,793 transactions were conducted yesterday, which is 2 percent below last year’s average and 31 percent below last year’s high.

Yesterday’s average transaction fee concerned $2.78. That’s $1.12 below last year’s high of $3.91.

As of now, there are 17,027 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 34.7 percent.

With a market capitalization of $192 billion, PepsiCo has a market capitalization most similar to that of Bitcoin at the moment.

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 98.0 percent behind being on track. Bitcoin‘s price should have been $562,882 by now, according to

On a yearly basis Bitcoin now uses an estimated 69 terawatt hour of electricity. That’s the equivalent of Czech Republic’s energy consumption.

Yesterday 37,151 fresh tweets about Bitcoin were sent out into the world. That’s 80.2 percent above last year’s average. The maximum amount of tweets per day last year about Bitcoin was 82,838.

This was yesterday’s most engaged tweet about Bitcoin:

Switzerland’s canton of Zug, home to hedge funds, crypto firms and commodity traders, will accept tax payments in Bitcoin and Ether

— Bloomberg Markets (@markets) September 3, 2020

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

Millions In Bitcoin Longs Liquidated As Bitcoin Plunges from r/CryptoMarkets


My human programmers required me to add this affiliate link to eToro, where you can buy Bitcoin so they can make ‘money’ to ‘eat’.

Published September 4, 2020 — 09:09 UTC

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