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 Faraday used to say: Talk to a stranger on a bus!
Bitcoin Price
We closed the day, August 22 2019, at a price of $10,131. That’s a minor 0.11 percent decline in 24 hours, or -$11.46. It was the lowest closing price in seven 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 $181,257,125,783. It now commands 69 percent of the total crypto market.
Bitcoin volume
Yesterday’s volume of $17,097,508,856 was the lowest in one day, 11 percent above the year’s average, and 62 percent below the year’s high.
Bitcoin transactions
A total of 322,312 transactions were conducted yesterday, which is 4 percent below the year’s average and 28 percent below the year’s high.
Bitcoin transaction fee
Yesterday’s average transaction fee concerned $0.82. That’s $2.89 below the year’s high of $3.71.
Bitcoin distribution by address
As of now, there are 17,247 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 14.4 percent, and the top 1000 34.4 percent.
Company with a market cap closest to Bitcoin
With a market capitalization of $185 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 88.8 percent behind being on track. Bitcoin‘s price should have been $90,704 by now, according to dickline.info.
Bitcoin on Twitter
Yesterday 17,858 fresh tweets about Bitcoin were sent out into the world. That’s 7.2 percent below the year’s average. The maximum amount of tweets per day this year about Bitcoin was 41,687.
Most popular posts about Bitcoin
This was yesterday’s most engaged tweet about Bitcoin:
This was yesterday’s most upvoted Reddit post about 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’.
Satoshi Nakaboto: ‘Bitcoin market cap rivals HSBC, Europe’s largest bank’
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 Baudriallard used to say: Bob’s your uncle!
Bitcoin Price
We closed the day, October 08 2019, at a price of $8,228. That’s a minor 0.21 percent decline in 24 hours, or -$18.06. It was the lowest closing price in one day.
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 $147,966,069,982. It now commands 66 percent of the total crypto market.
Bitcoin volume
Yesterday’s volume of $15,592,264,032 was the lowest in one day, 1 percent above the year’s average, and 65 percent below the year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 323 tons of gold.
Bitcoin transactions
A total of 336,192 transactions were conducted yesterday, which is 0 percent above the year’s average and 25 percent below the year’s high.
Bitcoin transaction fee
Yesterday’s average transaction fee concerned $0.21. That’s $3.50 below the year’s high of $3.71.
Bitcoin distribution by address
As of now, there are 12,047 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.
Furthermore, the top 10 Bitcoin addresses house 5.6 percent of the total supply, the top 100 14.5 percent, and the top 1000 34.3 percent.
Company with a market cap closest to Bitcoin
With a market capitalization of $149 billion, HSBC 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 92.8 percent behind being on track. Bitcoin‘s price should have been $113,815 by now, according to dickline.info.
Bitcoin Energy Consumption
Bitcoin used an estimated 200 million kilowatt hour of electricity yesterday. On a yearly basis that would amount to 73 terawatt hour. That’s the equivalent of Austria’s energy consumption or 6,8 million US households. Bitcoin’s energy consumption now represents 0.3% of the whole world’s electricity use.
Bitcoin on Twitter
Yesterday 16,662 fresh tweets about Bitcoin were sent out into the world. That’s 11.3 percent below the year’s average. The maximum amount of tweets per day this year about Bitcoin was 41,687.
Most popular posts about Bitcoin
This was yesterday’s most engaged tweet about Bitcoin:
This was yesterday’s most upvoted Reddit post about 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’.
New EU regulations put an end to buying Bitcoin anonymously
One of the last places you could buy Bitcoin ( somewhat ) anonymously online has implemented new compliance regulations that make it impossible for users to obscure their identity.
LocalBitcoinom announced yesterday that it implemented new measures to satisfy the European Union’s (EU) 5th Anti-Money Laundering Directive (5AMLD). The changes came into force on March 18, and LocalBitcoins is the first exchange in Europe to align its business to 5AMLD guidelines.
To comply with the regulations the online Bitcoin marketplace is making new users sign up through a new account registration process. It will require users to verify basic information about themselves, and sacrifice some anonymity.
LocalBitcoinom has not stated if current users will be required to complete the verification process. It’s likely this will be the case though.
What’s more, LocalBitcoins is also developing a new identity verification process, with a yet-to-be-disclosed release date. It will introduce four account levels for individual traders; they will be ranked on trade and BTC transaction volume. The exchange hopes this will highlight trustworthy traders over less trustworthy ones.
Corporate traders will be subject to a separate process, LocalBitcoins has not disclosed the details, though.
EU member states have been afforded until January 2020 to implement the directives. But Finland, where LocalBitcoins is based, has jumped the gun and already compiled new legislation.
This will bring its current Anti-Money Laundering Act in line with the new EU directive. Finland’s new regulations go into full effect in November 2019, but LocalBitcoins has gone ahead anyway and updated its compliance procedures.
How does 5AMLD affect cryptocurrency?
There are three main regulations in the EU’s 5AMLD that will affect cryptocurrency businesses.
The first, is that it requires cryptocurrencies to submit suspicious activity reports and perform customer due diligence, also known as know-your-customer (KYC).
The second, is that financial investigators can be mandated to obtain addresses and identities of cryptocurrency owners, removing anonymity of exchange users.
And finally, cryptocurrency exchanges and wallet providers will need to be registered with relevant financial regulators in their home country. Such as the Financial Conduct Authority in the UK , or the Securities and Exchange Commission in the US.
Indeed, thanks to its home-nation’s government, LocalBitcoins is somewhat ahead of the game when it comes to regulations.
This is certainly a sign of the times to come for exchanges and wallet services based in Europe.
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