Our Latest Weekly Bits Podcast, Bitcoin News and Price Updates Are Here...
Weekly Bits #12: What The Fed's Repo Market Pump Means For Bitcoin The Federal Reserve has funneled roughly $500 billion into the repo market since September 2019 in what were originally pitched as temporary operations. Now, it wants to bring the same efforts to smaller institutions in an unprecedented extension of its influence over the economy. On this episode, Colin and Peter discuss Bitcoin Magazine's cover story about the Fed's actions and what they tell us about our financial system. If this reminds anyone of the climate before The Great Recession, then Bitcoin could be a solution
The Fed Has Pumped $500 Billion Into the Repo Market. Where Does It End? by Colin Harper
In September 2019, the interest rate for the overnight money market — a short-term lending market where banks borrow cash from each other to meet reserve requirements at the end of a business day — surged to 10 percent.
The price of bitcoin has been lingering around $8,650 for the last few days.
The Bitcoin hash rate, after previously reaching an all-time high, has remained at just below that mark over the last few months.
Rabbit Hole Read Of The Week This week's Rabbit Hole Read is "Research paper: A model for Bitcoin’s security and the declining block subsidy" from Uncommon Core. This paper was written by Hasu, James Prestwich and Brandon Curtis, and it covers the economics of bitcoin mining, the declining block subsidy and challenges that Bitcoin might end up facing in the future. In regards to writing this paper, Hasu said on Twitter that "This journey challenged everything I thought I knew about the economics of mining and Bitcoin in general."
