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Satoshi Nakaboto: ‘Nouriel Roubini says Bitcoin is a total scam — again’

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Blockchain, cryptocurrencies, and insider stories by TNW.

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 Pasteur used to say: Fight the power!

We closed the day, May 10 2020, at a price of $8,756. That’s a worrying 8.70 percent decline in 24 hours, or -$834.73. It was the lowest closing price in nine days.

We’re still 56 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin’s market cap ended the day at $160,884,755,211. It now commands 68 percent of the total crypto market.

Yesterday’s volume of $63,325,279,337 was the highest in nine days, 183 percent above the year’s average, and 14 percent below the year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 1154 tons of gold.

A total of 286,619 transactions were conducted yesterday, which is 10 percent below the year’s average and 36 percent below the year’s high.

Yesterday’s average transaction fee concerned $1.14. That’s $2.57 below the year’s high of $3.71.

As of now, there are 12,467 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 35.1 percent.

With a market capitalization of $158 billion, Salesforce 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 97.3 percent behind being on track. Bitcoin‘s price should have been $321,460 by now, according to dickline.info.

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.

Yesterday 41,923 fresh tweets about Bitcoin were sent out into the world. That’s 119.2 percent above the year’s average. The maximum amount of tweets per day this year about Bitcoin was 75,543.

This was one of yesterday’s most engaged tweets about Bitcoin:

Bitcoin crashes by 15% in 7 minutes on NO news: a rigged, totally manipulated, whales-controlled market where most transactions (90%) volumes are false as exchanges pretend to have liquidity they don’t have. Massive pump & dump, spoofing, front running, wash trading! Total Scam!

— Nouriel Roubini (@Nouriel) May 10, 2020

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

Bitcoin is a ‘fake’ currency from r/Bitcoin

print(randomGoodByePhraseForSillyHumans)

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 May 11, 2020 — 08:43 UTC

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