Satoshi Nakaboto: ‘New York power plant makes $50K a day mining Bitcoin’


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 Stephen Hawking used to say: Let’s get it!

Bitcoin price

We closed the day, March 05 2020, at a price of $9,078. That’s a respectable 3.63 percent increase in 24 hours, or $318. It was the highest closing price in eight days.

We’re still 54 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin market cap

Bitcoin’s market cap ended the day at $165,731,679,918. It now commands 64 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $39,698,054,597 was the highest in one day, 105 percent above last year’s average, and 21 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 732 tons of gold.

Bitcoin transactions

A total of 349,366 transactions were conducted yesterday, which is 7 percent above last year’s average and 22 percent below last year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $0.27. That’s $3.43 below last year’s high of $3.71.

Bitcoin distribution by address

As of now, there are 13,169 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.

Furthermore, the top 10 Bitcoin addresses house 5.8 percent of the total supply, the top 100 14.9 percent, and the top 1000 34.6 percent.

Company with a market cap closest to Bitcoin

With a market capitalization of $167 Billion, Cisco 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 96.1 percent behind being on track. Bitcoin‘s price should have been $233,724 by now, according to dickline.info.

Bitcoin Energy Consumption

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.

Bitcoin on Twitter

Yesterday 26,232 fresh tweets about Bitcoin were sent out into the world. That’s 41.8 percent above last year’s average. The maximum amount of tweets per day last year about Bitcoin was 75,543.

Most popular posts about Bitcoin

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

A power plant in New York sets up its own Bitcoin mining operation, using the electricity it produces to generate about $50,000 worth of the cryptocurrency every day https://t.co/VJeLxHdOR5

— Bloomberg Crypto (@crypto) March 5, 2020

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

Buy Bitcoin, Bye Banks!!! from r/Bitcoin

And this was yesterday’s top submission on Hacker News about Bitcoin:

Erlay: Bandwidth-efficient Bitcoin transaction relay protocol (github.com)

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 March 6, 2020 — 10:36 UTC

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