Satoshi Nakaboto: ‘4 of the 5 largest South Korean banks to offer crypto services’-Computerfanfield

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 Pasteur used to say: Yolo!

Bitcoin price

We closed the day, August 16 2020, at a price of $11,892. That’s a minor 0.22 percent increase in 24 hours, or $26. It was the highest closing price in three hundred and seventy-three days.

We’re still 40 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin market cap

Bitcoin’s market cap ended the day at $219,576,092,170. It now commands 60 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $20,583,375,490 was the lowest in six days, 9 percent below last year’s average, and 72 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 328 tons of gold.

Bitcoin transactions

A total of 284,917 transactions were conducted yesterday, which is 10 percent below last year’s average and 37 percent below last year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $1.04. That’s $2.87 below last year’s high of $3.91.

Bitcoin distribution by address

As of now, there are 18,950 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 34.8 percent.

Company with a market cap closest to Bitcoin

With a market capitalization of $224 billion, PayPal 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 97.7 percent behind being on track. Bitcoin‘s price should have been $516,019 by now, according to dickline.info.

Bitcoin energy consumption

On a yearly basis Bitcoin now uses an estimated 65 terawatt hour of electricity. That’s the equivalent of Czech Republic’s energy consumption.

Bitcoin on Twitter

Yesterday 29,007 fresh tweets about Bitcoin were sent out into the world. That’s 42.8 percent above last year’s average. The maximum amount of tweets per day last year about Bitcoin was 82,838.

US tech execs have dumped $3.6 billion in company stock this month

Stock markets are floundering in the wake of the coronavirus (COVID-19) pandemic, and while many are stuck assessing its long-term effects — loads of tech executives have dumped their shares for major profit.

In fact, insiders at US tech companies — from fintech to cloud services — collectively unloaded at least $3.6 billion worth of company shares in May, with top executives from big players like Facebook, General Electric, Cloudflare, and Activision all selling small fortunes worth of stock.

To digest the loin-thumping wealth recently generated by stock sales, Hard Fork built the visualisation below using the SEC data collated by FinViz . Click on each company to discover exactly who sold how many shares.

For example, navigating to the Mastercard block will show the company‘s CEO Ajay Banga selling $23.4 million worth of company stock.

You’ll also see that the company‘s general counsel, Timothy Murphy, liquidated 52,489 shares to pocket a cool $15 million. Most of the sales included in this data begin in the week starting May 15.

(NB: If the visualisation doesn’t show, try loading the desktop version of this page.)

You can even filter the results by company to receive more detailed information. Select the “PayPal” filter and you’ll easily find that its president and CEO Daniel Schulman just dumped shares worth $3.6 million. His colleague Jonathon Auerbach almost tripled that effort, selling stock valued at $9.5 million.

Reed Hastings, in charge of streaming mainstay Netflix, also sold more than 50,000 shares for $449.23 each to earn $23.9 million. $NFLX has since dropped to a touch over $429.

Other notable inclusions were $10 million from Raymond Lane, the director of plant-based meat substitute firm Beyond Meat, and $27.2 million from Activision director Brian Kelly. Zoom‘s chief financial officer Kelly Steckelberg returned to sell stock worth $1.9 million.

Virgin Galactic whale sold $380 million worth of company stock

Few sold more than the heads of biotech companies 10X Genomics and Seattle Genetics, whose directors respectively made $241.8 million and $280 million literally overnight with their stock.

Novak Rodger, president of DNA-hacking endeavour CRISPR, managed to generate $3.25 million all by himself, a much smaller number but still a hefty payday.

Perhaps the most curious sales relate to Richard Branson’s space tourism gambit Virgin Galactic. According to recently filed SEC documents, a Virgin-owned holding corporation named “ Vieco 10 ” sold $379.5 million worth of $SPCE between May 15 and May 22.

Weeks earlier, Branson had practically begged world governments to bail the struggling Virgin empire out of apparently imminent collapse.

It’s common for execs to set trades in advance

On the surface, some sales might appear to be timed incredibly well, especially considering that a number of tech companies included in this piece have recently traded at record highs.

However, it should be noted that it’s not unusual for execs to set trades to execute under certain conditions without any direct input.

For example, Hard Fork previously reported that Zoom‘s Steckelberg dumped millions in company stock just before the platform’s security concerns came to light. A company spokesperson later confirmed those trades were set at least 45 days earlier.

Still, there’s no doubt that selling stocks has kept our high-flying tech execs busy this month. I just hope their money managers got a decent cut.

Satoshi Nakaboto: ‘Bitcoin is now worth as much as Coca-Cola’

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 Schopenhauer used to say: Shop ’till you drop!

Bitcoin price

We closed the day, July 30 2020, at a price of $11,111. That’s a minor 0.10 percent increase in 24 hours, or $11. It was the highest closing price in three hundred and fifty-two days.

We’re still 44 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin market cap

Bitcoin‘s market cap ended the day at $204,969,047,788. It now commands 63 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $22,857,247,901 was the lowest in three days, 1 percent above last year’s average, and 69 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 360 tons of gold.

Bitcoin transactions

A total of 327,654 transactions were conducted yesterday, which is 2 percent above last year’s average and 27 percent below last year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $3.69. That’s $0.22 below last year’s high of $3.91.

Bitcoin distribution by address

As of now, there are 18,282 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.

Furthermore, the top 10 Bitcoin addresses house 5.1 percent of the total supply, the top 100 14.3 percent, and the top 1000 34.9 percent.

Company with a market cap closest to Bitcoin

With a market capitalization of $204 billion, The Coca-Cola Company 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 97.6 percent behind being on track. Bitcoin‘s price should have been $475,347 by now, according to dickline.info.

Bitcoin energy consumption

On a yearly basis Bitcoin now uses an estimated 62 terawatt hour of electricity. That’s the equivalent of Kuwait’s energy consumption.

Bitcoin on Twitter

Yesterday 32,625 fresh tweets about Bitcoin were sent out into the world. That’s 63.0 percent above last year’s average. The maximum amount of tweets per day last year about Bitcoin was 82,838.