Bitcoin hits massive milestone with its 400,000,000th transaction-Computerfanfield

Bitcoin has reached a milestone! The blockchain powering the world’s most popular cryptocurrency officially processed its 400,000,000th transaction overnight .

That’s right. Check the records – at pixel time, there have been at least 400,251,742 transactions sent via Bitcoin‘s independent, censorship-resistant, peer-to-peer electronic cash system .

Right now, Bitcoin is averaging around 350,000 transactions per day . Its blockchain is handling roughly 14,904 transactions every hour (just over four per second), with no down-time, and no holidays.

Bitcoin is fitting more transactions into blocks than ever before

Earlier in April, Bitcoin fans rejoiced as the cryptocurrency market finally saw positive movement, after its price broke $5,000 for the first time in nearly five months .

Almost simultaneously, the Bitcoin network was making huge moves. On March 31, the daily average amount of transactions contained within Bitcoin blocks hit 2,746, exceeding previous all-time highs twice in 10 days .

The latest data shows that 1,956,321 BTC ($10.2 billion) has been transacted via Bitcoin’s blockchain in the past day; the amount makes up more than 11 percent of its overall market cap.

Bitcoin is processing over 360,000 transactions every day, with 81,513 BTC ($424 million) shifted every hour. The average transaction value is 5.44 BTC ($28,316).

The average cost of Bitcoin transaction fees is around $2.60

There are also more Bitcoin transactions processed today than at any point last month . Indeed, for most of March, Bitcoin was accepting well below 300,000 transactions each day. Today, it will process over 357,000.

This jump in activity coincided with the sharp increase in price. Typically, traders flock to exchanges to buy and sell Bitcoin when its price rises .

This means the average cost of using the Bitcoin network has also increased, although not by much. Bitcoin fees actually doubled during the first week of April , from around 0.000169 BTC ($0.88) to 0.00043553 BTC ($2.27).

Still, today’s average cost of Bitcoin transactions remains below 0.0005 BTC ($2.60). Those using the network (right now) will pay roughly 0.00036217 BTC ($1.88) in transaction fees. Not bad, all things considering ( like censorship resistance ).

So, while Satoshi Nakamoto celebrated a “birthday” last Friday , and Bitcoin itself turned 10 earlier this year , we shouldn’t forget that the network itself is still breaking records and setting milestones almost daily – and that’s pretty dope.

Did you know? Hard Fork has its own stage at TNW2019 , our tech conference in Amsterdam. Check it out .

Want a blockchain job in big tech? This course might help you land one

What do Facebook , Visa , Shell , IBM, and EY have in common (other than being stupid rich)? They’re all hiring blockchain talent. Indeed, blockchain jobs are popping up all over the place these days. If you ever thought about learning the ins and outs of distributed ledger tech, now might be a good time – and we’ve got an idea where you can start.

The University of California, Berkeley is currently running a “Blockchain Technology” online course on EdX. Among other things, the course will familiarize you with various consensus mechanisms (like Bitcoin’s Proof-of-Work or Ethereum’s upcoming Proof-of-Stake), the concept of tokenomics , and the challenges of scaling decentralized networks.

The best thing about the course is you can sign up for free – though, you will have to fork out $99, if you want to get your assignments graded and receive a certificate of completion.

Too busy to dabble in blockchain right now? Don’t worry. The Blockchain Technology course is pretty flexible. You can take it at your own pace (as long as you complete it by July 30), and the workload is relatively light: the course manual says you’ll only need five to six hours a week (for six weeks) to get through it.

Do I need to know anything about about blockchain before enrolling?

Yes, but you shouldn’t let your unfamiliarity with the subject matter deter you from taking the course.

The instructors expect students to have completed their previous course on “Bitcoin and Cryptocurrencies.” While the prerequisite course is no longer running, you can still access an archived version of it (you’ll need an EdX account to see the contents of the course, though). That should help you catch up.

Enroll for Berkeley’s Blockchain Technology course by clicking here .

This post includes affiliate links to courses that you can buy online. If you purchase them through our links, we get a small cut of the revenue.

Satoshi Nakaboto: ‘Bitcoin consolidates just above $8,000’

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 Marcus Aurelius used to say: We’re on the highway to hell, so let’s ride!

Bitcoin price

We closed the day, January 12 2020, at a price of $8,192. That’s a minor 1.98 percent increase in 24 hours, or $159. It was the highest closing price in fifty-three days.

We’re still 59 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin market cap

Bitcoin’s market cap ended the day at $148,752,956,966. It now commands 69 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $22,903,438,381 was the lowest in six days, 34 percent above the year’s average, and 49 percent below the year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 460 tons of gold.

Bitcoin transactions

A total of 282,985 transactions were conducted yesterday, which is 13 percent below the year’s average and 37 percent below the year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $0.12. That’s $3.59 below the year’s high of $3.71.

Bitcoin distribution by address

As of now, there are 12,143 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 15.1 percent, and the top 1000 34.9 percent.

Company with a market cap closest to Bitcoin

With a market capitalization of $149 Billion, NVIDIA 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 95.4 percent behind being on track. Bitcoin‘s price should have been $180,944 by now, according to dickline.info.

Bitcoin on Twitter

Yesterday 14,383 fresh tweets about Bitcoin were sent out into the world. That’s 20.8 percent below the year’s average. The maximum amount of tweets per day this year about Bitcoin was 41,687.