Satoshi Nakaboto: ‘Bitcoin might be showing itself to be a safe haven’-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 Albert Einstein used to say: Buy low, sell high!

Bitcoin Price

We closed the day, August 25 2019, at a price of $10,138. That’s a minor 0.21 percent decline in 24 hours, or -$22.21. It was the lowest closing price in two days.

We’re still 49 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin market cap

Bitcoin’s market cap ended the day at $181,450,186,164. It now commands 69 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $14,153,856,610 was the lowest in six days, 7 percent below the year’s average, and 68 percent below the year’s high.

Bitcoin transactions

A total of 288,779 transactions were conducted yesterday, which is 14 percent below the year’s average and 36 percent below the year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $0.23. That’s $3.48 below the year’s high of $3.71.

Bitcoin distribution by address

As of now, there are 17,384 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.

Furthermore, the top 10 Bitcoin addresses house 5.4 percent of the total supply, the top 100 14.6 percent, and the top 1000 34.6 percent.

Company with a market cap closest to Bitcoin

With a market capitalization of $182 Billion, PepsiCo 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 88.9 percent behind being on track. Bitcoin‘s price should have been $92,028 by now, according to dickline.info.

Bitcoin on Twitter

Yesterday 14,278 fresh tweets about Bitcoin were sent out into the world. That’s 25.7 percent below the year’s average. The maximum amount of tweets per day this year about Bitcoin was 41,687.

HSBC leans on blockchain tech to process $250b worth of fx transactions

Global bank HSBC has processed more than 3 million foreign exchange (fx) transactions using blockchain technology.

According to a report, the transactions , completed over the past year, were worth $250bn.

If previous statements are anything to go by, HSBC likely used a permissioned (aka private) blockchain to carry out the transaction. Private blockchains are typically preferred by regulated financial entities such as HSBC because they provide a workaround the fact that the anonymity of participants is not acceptable in mainstream finance.

To put this into perspective, HSBC is one of the largest financial services organizations in the world.

It has 7,500 offices in more than 80 countries and territories in Europe, the Americas, the Middle East and Africa, and the Asia-Pacific region.

With this in mind, it’s fair to say that the amount of fx transactions completed using blockchain tech pales in significance when compared to the bank’s overall trading volume.

Banking on the blockchain

By combining shared databases, blockchain technology enables multiple parties to have simultaneous access to a digital ledger which is updated in real-time and cannot be tampered with, enabling institutions such as banks to save money and maximize efficiency – especially when it comes to the settlement and clearing of trades.

Banks – and other mainstream financial firms – have long been skeptical about cryptocurrencies such as Bitcoin, but have historically taken a different attitude when it comes to the technology underpinning it.

For example, HSBC made headlines in May last year when it partnered with ING bank and announced that it had executed a live trade financial transaction for Cargill (an international food and agriculture conglomerate) using R3’s Corda blockchain platform.

At the time, the transaction involved a shipment of Argentine soybeans, through Cargill’s trading arm in Geneva, to its Singapore subsidiary.

Most significantly, the transaction arguably helped to prove blockchain’s viability in a commercial environment.

A statement issued by HSBC noted how conventional exchanges for paper-based documents typically took around 5-10 days. The blockchain-based exchange, however, was completed in 24 hours.

Satoshi Nakaboto: ‘Over 100,000 shops and merchants are accepting Bitcoin now’

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 Locke used to say: Let’s get it!

Bitcoin Price

We closed the day, August 24 2019, at a price of $10,159. That’s a notable 2.37 percent decline in 24 hours, or -$247.68. It was the lowest closing price in one day.

We’re still 49 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin market cap

Bitcoin’s market cap ended the day at $181,813,631,752. It now commands 69 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $15,451,030,650 was the lowest in three days, 0 percent above the year’s average, and 65 percent below the year’s high.

Bitcoin transactions

A total of 304,321 transactions were conducted yesterday, which is 9 percent below the year’s average and 32 percent below the year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $0.47. That’s $3.24 below the year’s high of $3.71.