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: Whip it, whip it, whip it!

Bitcoin price

We closed the day, June 03 2020, at a price of $9,656. That’s a minor 1.28 percent increase in 24 hours, or $122. It was the highest closing price in one day.

We’re still 51 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin market cap

Bitcoin’s market cap ended the day at $177,619,631,126. It now commands 66 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $25,007,459,262 was the lowest in one hundred and twenty-eight days, 8 percent above last year’s average, and 66 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 456 tons of gold.

Bitcoin transactions

A total of 312,373 transactions were conducted yesterday, which is 2 percent below last year’s average and 30 percent below last year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $1.31. That’s $2.59 below last year’s high of $3.91.

Bitcoin distribution by address

As of now, there are 13,485 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.

Furthermore, the top 10 Bitcoin addresses house 5.2 percent of the total supply, the top 100 14.7 percent, and the top 1000 35.1 percent.

Company with a market cap closest to Bitcoin

With a market capitalization of $178 billion, Toyota 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 97.3 percent behind being on track. Bitcoin‘s price should have been $360,963 by now, according to dickline.info.

Bitcoin energy consumption

Bitcoin used an estimated 159 million kilowatt hour of electricity yesterday. On a yearly basis that would amount to 58 terawatt hour. That’s the equivalent of Bangladesh’s energy consumption or 5.4 million US households. Bitcoin’s energy consumption now represents 0.26% of the whole world’s electricity use.

Bitcoin on Twitter

Yesterday 32,772 fresh tweets about Bitcoin were sent out into the world. That’s 69.0 percent above last year’s average. The maximum amount of tweets per day last year about Bitcoin was 82,838.

Most popular posts about Bitcoin

This was one of yesterday’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’.

Morgan Stanley’s $13B E-Trade buyout is the biggest bank deal since the financial crash

Morgan Stanley has just struck the largest deal made by a global bank since the 2008 financial crisis. Pending regulatory approval, the Wall Street veteran is to acquire trading platform E-Trade for $13 billion in a bid to capture the “everyday investor” market.

The move will bring E-Trade’s 5.2 million clients onto Morgan Stanley‘s books, along with its $360 billion in assets. According to Financial Times , the bank considers those users as a “pipeline of emerging wealth.”

[READ: Morgan Stanley wants to sell Bitcoin – without actually selling it ]

It will also see Morgan Stanley grow to compete with finance’s biggest names. CEO James Gorman told Wall Street Journal , which broke the news: “We’ll take on Schwab. We’ll take on Fidelity. This isn’t about legacy-building; it’s about getting [Morgan Stanley] ready for prime time.”

Morgan Stanley’s steady side-gig: The retail investor

Traditionally, Morgan Stanley caters to corporations and high-value individuals, but over the past decade it’s sought to secure more steady, predictable revenue streams by servicing retail investors, rather than just the hyper-wealthy wholesale crowd.

In fact, post-deal, 57% of Morgan Stanley‘s pre-tax profits will reportedly come from its wealth management and investment management divisions, of which E-Trade will fall under.

Morgan Stanley‘s direct competitors have done much the same thing in recent years. Charles Schwab, TD Ameritrade, and Merril Lynch all now sell direct-to-consumer products like the brokerage accounts offered by E-Trade. Goldman Sachs has issued credit cards with Apple since 2016.

Just how far Wall Street‘s most notorious names will go to court the hobby investor is yet to be seen, but some have already speculated that smaller startups like Robinhood might be next in line for acquisition.

Regardless, the deal still needs the approval of financial regulators. Since the 2008 crisis, they’ve generally been tentative to greenlight big-bank mergers like this one, so we’ll soon see if that attitude persists in the bullish-at-all-costs era of Trump.

Russian dark web market Hydra wants $146M in Bitcoin to expand globally

Infamous Russian dark web marketplace Hydra is seeking to raise $146 million by selling tokens for Bitcoin, CoinDesk reports.

Funds generated by Hydra’s initial coin offering (ICO), which is reportedly scheduled to begin December 16, will supposedly be used to expand operations to a global scale.

According to CoinDesk, which cites an investment document hosted by the site, Hydra says it will issue 1,470,000 tokens sold for $100 worth of Bitcoin each, offering 49 percent of that supply to the general public.

If purchased in bundles of 100, Hydra says it will provide buyers with 0.00333333 percent share of its profit — dividends that supposedly equate to $500 per month, paid in Bitcoin.

Hydra reckons it will launch a new worldwide (and obviously anonymous) service called Eternos, promising it will include a cryptocurrency exchange, Tor-like browser, encrypted messenger, and even an over-the-counter (OTC) marketplace.

Just to make it entirely clear: Hydra is a marketplace for drugs and other prohibited (illegal) goods and services, such as counterfeit money. Funding expansion of such services presents several moral dilemmas, not just financial risk.

It’s worth noting too that Russian media has already labeled it a potential exit scam, so there’s also that.