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Satoshi Nakaboto: ‘Kazakhstan to pump $700M into crypto mining’

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Inside money, markets, and big tech

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 Sloterdijk used to say: Yolo!

We closed the day, September 06 2020, at a price of $10,280. That’s a minor 1.11 percent increase in 24 hours, or $113. It was the highest closing price in one day.

We’re still 48 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin‘s market cap ended the day at $189,997,214,393. It now commands 60 percent of the total crypto market.

Yesterday’s volume of $37,071,460,174 was the lowest in one day, 63 percent above last year’s average, and 50 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 597 tons of gold.

A total of 262,670 transactions were conducted yesterday, which is 17 percent below last year’s average and 41 percent below last year’s high.

Yesterday’s average transaction fee concerned $1.30. That’s $2.61 below last year’s high of $3.91.

As of now, there are 16,867 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 14.1 percent, and the top 1000 34.8 percent.

With a market capitalization of $191 billion, Novartis 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 98.2 percent behind being on track. Bitcoin‘s price should have been $571,097 by now, according to

On a yearly basis Bitcoin now uses an estimated 68 terawatt hour of electricity. That’s the equivalent of Czech Republic’s energy consumption.

Yesterday 23,088 fresh tweets about Bitcoin were sent out into the world. That’s 11.8 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:

This is what all countries will be doing in the years ahead. Congrats for getting ahead of the upcoming government level #Bitcoin FOMO Kazakhstan

— Simon Dixon (@SimonDixonTwitt) September 6, 2020

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

March Bitcoin Crash vs September Bitcoin Crash from r/CryptoCurrency


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 7, 2020 — 08:39 UTC

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