Swiss president: ‘Libra has failed’-Computerfanfield

It’s not even a week into the new year and already Facebook‘s “cryptocurrency” project Libra is coming under fire once again. This time, Switzerland is speaking out against the digital coin.

Speaking to Swiss broadcaster SRF, the country’s president and finance minister Ueli Maurer said the project has failed, Reuters reports . He believes banks won’t accept Libra in its current form:

That’s all well and good, but what if central banks don’t have to accept it? Banks don’t have to accept cryptocurrency, because exchanges allow users to convert their digital assets to fiat.

If banks do refuse Libra, whether that will create an issue for Facebook remains to be seen.

Facebook‘s original announcement stated that Libra should launch at some point in early 2020. However, given the lack of support from financial regulators it isn’t looking probable.

The original plan was for a basket of fiat currencies , including: US dollars, Euro, and Pound Sterling, to back Libra. It was said this should help its value remain stable.

Facebook‘s “cryptocurrency” project Libra has been under fire since it was announced last year .

Switzerland-based Libra Association Board members have criticized Libra for its lack of a coherent launch plan , EU regulators have challenged the project , and the US Senate dragged it across the coals in a series of hearings. There is so much drama surrounding the project, that it feels more like a soap opera than a digital currency.

With Maurer’s statement, though, it seems Facebook will have to go back to the drawing board if Libra is going to satisfy global governments and relevant regulatory bodies.

Satoshi Nakaboto: ‘Daily value transfer on Ethereum now on par with Bitcoin’

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 Satoshi Nakamoto used to say: Your imagination is the only tool in the book!

Bitcoin price

We closed the day, April 15 2020, at a price of $6,642. That’s a notable 2.97 percent decline in 24 hours, or -$203.45. It was the lowest closing price in thirteen days.

We’re still 66 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin market cap

Bitcoin’s market cap ended the day at $121,731,940,639. It now commands 65 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $32,288,311,031 was the lowest in three days, 52 percent above the year’s average, and 56 percent below the year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 583 tons of gold.

Bitcoin transactions

A total of 310,084 transactions were conducted yesterday, which is 3 percent below the year’s average and 31 percent below the year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $0.28. That’s $3.42 below the year’s high of $3.71.

Bitcoin distribution by address

As of now, there are 10,790 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 15.0 percent, and the top 1000 35.0 percent.

Company with a market cap closest to Bitcoin

With a market capitalization of $120 billion, AbbVie 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 97.6 percent behind being on track. Bitcoin‘s price should have been $284,901 by now, according to dickline.info.

Bitcoin Energy Consumption

Bitcoin used an estimated 202 million kilowatt hour of electricity yesterday. On a yearly basis that would amount to 74 terawatt hour. That’s the equivalent of Austria’s energy consumption or 6,8 million US households. Bitcoin’s energy consumption now represents 0.33% of the whole world’s electricity use.

Bitcoin on Twitter

Yesterday 28,889 fresh tweets about Bitcoin were sent out into the world. That’s 53.3 percent above the year’s average. The maximum amount of tweets per day this year about Bitcoin was 75,543.

Satoshi Nakaboto: ‘US banks can now hold Bitcoin on behalf of their customers’

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 Plato used to say: Intelligence is in the eye of the beholder!

Bitcoin price

We closed the day, July 22 2020, at a price of $9,525. That’s a minor 1.60 percent increase in 24 hours, or $150. It was the highest closing price in twenty-eight days.

We’re still 52 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin market cap

Bitcoin‘s market cap ended the day at $175,644,844,408. It now commands 63 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $16,532,254,884 was the lowest in one day, 27 percent below last year’s average, and 77 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 273 tons of gold.

Bitcoin transactions

A total of 364,648 transactions were conducted yesterday, which is 14 percent above last year’s average and 19 percent below last year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $2.26. That’s $1.65 below last year’s high of $3.91.

Bitcoin distribution by address

As of now, there are 13,433 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.

Furthermore, the top 10 Bitcoin addresses house 5.1 percent of the total supply, the top 100 14.3 percent, and the top 1000 34.8 percent.

Company with a market cap closest to Bitcoin

With a market capitalization of $177 billion, Abbott Laboratories 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 97.9 percent behind being on track. Bitcoin‘s price should have been $457,333 by now, according to dickline.info.

Bitcoin energy consumption

On a yearly basis Bitcoin now uses an estimated 61 terawatt hour of electricity. That’s the equivalent of Algeria’s energy consumption.

Bitcoin on Twitter

Yesterday 25,069 fresh tweets about Bitcoin were sent out into the world. That’s 26.6 percent above last year’s average. The maximum amount of tweets per day last year about Bitcoin was 82,838.