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 Marie Curie used to say: Let’s get it!
Bitcoin price
We closed the day, February 02 2020, at a price of $9,344. That’s a minor 0.48 percent decline in 24 hours, or -$45.44. It was the lowest closing price in three days.
We’re still 53 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).
Bitcoin market cap
Bitcoin’s market cap ended the day at $170,034,976,662. It now commands 66 percent of the total crypto market.
Bitcoin volume
Yesterday’s volume of $30,835,736,946 was the highest in two days, 74 percent above last year’s average, and 31 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 608 tons of gold.
Bitcoin transactions
A total of 290,736 transactions were conducted yesterday, which is 10 percent below last year’s average and 35 percent below last year’s high.
Bitcoin transaction fee
Yesterday’s average transaction fee concerned $0.20. That’s $3.51 below last year’s high of $3.71.
Bitcoin distribution by address
As of now, there are 13,437 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 $171 Billion, Adobe 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 95.3 percent behind being on track. Bitcoin‘s price should have been $200,257 by now, according to dickline.info.
Bitcoin on Twitter
Yesterday 75,543 fresh tweets about Bitcoin were sent out into the world. That’s 314.8 percent above last year’s average. On top of that, it’s highest amount of tweets about Bitcoin per day recorded last year.
Most popular posts about Bitcoin
This was one of last day’s most engaged tweets 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’.
Can NFTs be art? Wikipedia isn’t sure — and crypto bros are terrified
NFT art has exploded in popularity, but it faces an uncertain future on Wikipedia.
Editors of the online encyclopedia recently voted against categorizing non-fungible tokens as art. The result sparked fury in the crypto community.
The poll stemmed from discussions about Wikipedia’s list of the most expensive artworks by living artists, Cointelegraph reports .
The editors debated whether NFTs such as Murat Pak’s $91.8M The Merge and Beeple’s $69M Everydays should join the list. A majority of editors have voted against their inclusion.
While the result isn’t binding and involves a single Wikipedia page, the vote has caused consternation among NFT advocates.
Duncan Cock Foster, the cofounder of NFT marketplace Nifty Gateway, described the situation as an “art emergency.”
He warned that Wikipedia’s decision could deprive digital artists of their legitimacy:
The debate highlights the confusion surrounding NFT artworks.
While digital artists view NFTs as a medium for making and selling art, critics describe them as merely “financial instruments.”
The Wikipedia editors agreed that Beeple and Pak are artists. However, some argued that buying an NFT of an artwork isn’t the same as buying the artwork itself .
Another issue for Wikipedia involves the mechanisms of selling NFTs.
One editor said the sales of NFTs aren’t similar enough to other artwork sales to belong on the list.
As evidence, they pointed to doubts about the record sale of Pak’s The Merge . Critics have questioned claims that it’s the “largest-ever art sale by a living creator,” as the piece could be classified as a series of artworks.
The Wikipedia vote ultimately led to a new proposal from an editor: Beeple’s Everydays would retain its place, albeit with the addition of a note about the suspicions around the sale. Pak’s The Merge , however, would be excluded from the list:
That’s not likely to impress Nifty Gateway, although it does leave the door open for a potential inclusion.
The discussions still require a consensus supported by Wikipedia policy, but they’ve already exposed the skepticism — and bewilderment — around the NFT art world.
Moonday Mornings: Alleged billion-dollar Bitcoin launderer extradited to France
It’s almost New Year’s, but there’s still room for one more Moonday Mornings — Hard Fork’s roundup of weekend cryptocurrency news that you might’ve missed.
While I’ve got you here, props for sticking it out this year, faithful cryptocurrency fan. It hasn’t been easy: Bitcoin sure has copped it this year, and so has pretty much every single altcoin.
Anyway, here’s the news.
Disney blocks Justin Sun’s TRON trademark
Disney has succeeded in preventing blockchain-based network TRON from trademarking its name in the US, Decrypt reports.
Three separate applications were rejected after Disney said the trademarks would damage its brand, which started with the 1982 film and since expanded to a sequel, video games, an animations.
These claims went unchallenged, meaning that Disney was successful in defending its IP by default. Disney noted that Justin Sun markets his TRON blockchain in a way that borrows from TRON‘s 30-year legacy, particularly similar fonts and graphic design.
New York continues fight against OneCoin Ponzi scheme
The New York Southern District Court is pushing ahead with its action against an alleged money launderer for the $4 billion Ponzi scheme, OneCoin.
FinanceFeeds reports that lawyers have argued that David Pike, the chief operating officer of a purported private equity fund management firm, assisted OneCoin by laundering approximately $400 million of its funds.
They also claim he lied to special agents from the FBI and IRS during investigations when he maintained that he didn’t know OneCoin was an illegal Ponzi scheme.
Alleged Bitcoin launderer extradited to France
Reuters reports that Greece is extraditing Russian citizen Alexander Vinnik to France, who US authorities claim was the mastermind of a $4 billion Bitcoin laundering ring.
That laundering ring came in the form of seminal cryptocurrency exchange BTC-e, which was launched in 2011. Police reckon BTC-e facilitated multiple crimes including computer hacking to drug trafficking.
Vinnik has reportedly denied the charges, maintaining that he was simply a technical consultant for the exchange and not in charge. He’s commenced a second hunger strike in response to his extradition. His first lasted 88 days.
Iranian president calls for collaborative Islamic cryptocurrency
Hassan Rouhani, Iran’s president, has called for Muslim nations to increase financial and trade co-operation in a bid to curb reliance on the US dollar and fight back against heavy sanctions, AP reports .
As part of that effort, Rouhani proposed an Islamic financial system in which Muslim countries would trade in local currencies, as well as create a Muslim cryptocurrency to dampen market fluctuations.
“The Muslim world should be designing measures to save themselves from the domination of the United States dollar and the American financial regime,” said Rouhani.
That’s it for this week. Not long left until 2020, the year John McAfee prepares to eat his own dick. Stay safe out there!
