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 Jane Didion used to say: There’s only one way to go from here!

Bitcoin Price

We closed the day, October 28 2019, at a price of $9,256. That’s a notable 3.22 percent decline in 24 hours, or -$308.95. It was the lowest closing price in one day.

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 $166,777,392,742. It now commands 68 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $30,948,255,332 was the lowest in two days, 97 percent above the year’s average, and 31 percent below the year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 644 tons of gold.

Bitcoin transactions

A total of 305,998 transactions were conducted yesterday, which is 8 percent below the year’s average and 32 percent below the year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $0.52. That’s $3.19 below the year’s high of $3.71.

Bitcoin distribution by address

As of now, there are 13,443 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 34.5 percent.

Company with a market cap closest to Bitcoin

With a market capitalization of $168 Billion, China Mobile 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 92.6 percent behind being on track. Bitcoin‘s price should have been $125,357 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 18,462 fresh tweets about Bitcoin were sent out into the world. That’s 0.8 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’.

Ethereum devs reschedule Constantinople hard fork for late Feb

Ethereum core developers have now said they will activate the proposed Constantinople upgrade in late February.

The upgrade was delayed earlier this week following a code audit, which revealed that the fork would introduce security issues affecting Ethereum’s smart contracts, potentially resulting in the theft of users’ funds.

As previously reported by Hard Fork , the initial delay was announced on Tuesday – less than 24 hours before the hard fork was due to take place.

This latest change of schedule was announced during a core developer phone call , which took place today.

Participants on the phone call included Ethereum co-founder Vitalik Buterin, Hudson Jameson, Péter Szilágyi, Martin Holste Swende, Lane Rettig, and Afri Schoedon.

According to Szilágyi’s tweet, the fork is now scheduled for 27 February and the block number has finally been revealed as 7,280,000 .

What is Constantinople?

Constantinople was completed on 31 August and consists of five different Ethereum Improvement Proposals (EIP), which once released will permanently alter Ethereum’s blockchain with several backwards-incompatible upgrades.

This basically means that nodes – which make up the computer network tasked with running Ethereum’s software – must either update or risk working with an old, out-of-date blockchain.

Hard forks , aka system-wide upgrades, can result in turmoil, especially if participating users fail to reach an agreement over the proposed changes (remember Bitcoin Cash’s hash wars ?).

Generally speaking, though, most of the upgrades in Constantinople will not be noticeable to average end users, and there shouldn’t be much contention.

The fork has mostly been designed to make the network and fee structure more efficient, although it does include changes to Ethereum’s economic policy .

Just because you can earn cryptocurrency for squatting doesn’t mean you should

It’s barely the middle of January and we’ve got our first “why did they invent that” cryptocurrency token project of the year, “ Squat for Crypto .”

Hearing the words “squat for crypto,” the first image that popped into my head was a bunch of hooded coders with pixelated faces doing their thing in illicitly acquired accommodation. That’s usually the case, right? As it tuns out, it’s not that type of squatting.

Announced on Product Hunt this morning, Lympo Squat, is a fitness app that uses your smartphone‘s camera to detect when you have successfully completed a squat, and rewards you in LYM tokens for doing so.

Never one to pass up an opportunity to work on my thighs, I gave it a go myself. I got squatting in the middle of the office and only three people gave me strange looks.

The app does detect squats quite well, but that’s about the only good thing I can say. I felt like I was getting more of a mental workout than a physical one just trying to figure the app out. While a little unclear in the interface, it seems you get three LYM tokens for every 15 squats.

The virtual on-screen coach, called Kat, guides you through the squats, and there is a promise of rewards for every 15 squats successfully completed. Despite trying three times and doing over 40 squats, I was unable to complete the Sergeant Hartman-esque, 15 squats in 30 seconds required to unlock the rewards.

Squatting with proper form isn’t something that should be rushed, or else you might injure yourself. There’s also no extra reward for doing weighted squats, so don’t get your hopes up of improved reward for doing more work.

Also, Kat gets tired. Which is a bit weird considering she’s a digital entity that exists only on your phone screen. When Kat is “recovering” from the work you’ve done , you can’t earn any rewards, so you’ll have to wait 10 minutes before trying again.

You’ll also have to earn 1,000 LYM before you can withdraw the tokens to another wallet. Considering that 1 LYM is currently worth $0.0078, by the time you have enough to actually withdraw, it’ll only be worth $8 at current market rates.

Let’s assume you do get 3 LYM for every 15 squats – that means you’d have to do nearly 5,000 squats to earn that $8. That’s a market rate of about $0.002 per squat. You’d have to do 30 squats a day for over 165 days just to get close.

That’s assuming the price doesn’t change, which it almost certainly will, and considering the value of LYM has been on a slow and steady decrease since it peak last June, according to CoinMarketCap , don’t expect to make quick gains.

But don’t worry, I’ve had a better idea. If you skipped that daily chocolate bar that costs 60 cents, you’d earn back that $8 in less than two weeks, and you’d be helping your gains along too.

While it might sound like a fun idea, the realistic “gains” you can expect to make will be nearly completely muscular and not financial.