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The Bitcoin Minimalist Week 8 - White House CBDC, Encrypted Block Explorer, Rate Hikes

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The Bitcoin Minimalist Week 8 - White House CBDC, Encrypted Block Explorer, Rate Hikes

More signs of Bitcoin adoption, as well as push-back from the White House.

MitchKlee_
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Bitbo.io
Sep 21, 2022
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The Bitcoin Minimalist Week 8 - White House CBDC, Encrypted Block Explorer, Rate Hikes

minimalist.bitbo.io

This week:

  • White House Proposes CBDC Research

  • Expected FED Rate Hikes

  • Nasdaq Looks To Offer Bitcoin Custody

  • Colorado Accepts Bitcoin For Taxes

To catch the weekly synopsis, consider subscribing to The Bitcoin Minimalist!

News

White House Proposes “Responsible Development Of Digital Assets”

In this press release from The White House, the use of CBDCs are proposed. The WH claims that agencies should further track the environmental impact of digital assets. In summary, the community felt this misrepresented the impact of digital assets (since the report did not mention Bitcoin) and was not grounded in reality.

Image

Fed (Expects) Rate Hikes

Another Fed rate hike is expected today at 2 PM EST as inflation continues at around 8.2%. Previously the yield curve has inverted in economic crises like the dot com bubble and the 2008 housing crisis. It was briefly inverted in 2019 pre-covid and is now inverted again. Bitcoin Magazine Pro covered this, quoting Stanely Druckenmiller on the topic.

Nasdaq Seeking To Offer Institutional Bitcoin Custody

According to The Block, Nasdaq is looking to launch Bitcoin and cryptocurrency custody platforms. This is on the heels of the news that it would partner with Brazil’s largest brokerage firm to offer a cryptocurrency exchange in South America.

Colorado Accepts Bitcoin for Taxes

The Colorado Governor shared these plans in February, but the ability to pay state taxes in Colorado is now live through PayPal.

Other States, such as Ohio, have made it possible to pay taxes in Bitcoin since as early as 2019.

New Encrypted Block Explorer

Spiral for BTC released a new Block explorer that uses holomorphic encryption, allowing a lookup of BTC addresses without revealing them to anyone.

Price

The Bitcoin price dropped briefly on the 19th in a flash crash down to $18,400, recovering back to $19,600. Price has been relatively steady the last three months moving within the $18,000 to $22,000 range.

Bitbo.io

Tweets

Bitcoin Is A Mathematical Monetary Policy

Twitter avatar for @BitcoinPierre
Pierre Rochard @BitcoinPierre
Only #Bitcoin has an independent monetary policy. All other monetary policies are political.
1:51 PM ∙ Sep 21, 2022
98Likes13Retweets

Short-Term And Long-Term Holder Cross

Twitter avatar for @therationalroot
Root 🥕 @therationalroot
Short-term & Long-term Holder cost basis on track to cross September ~22nd. 2014 bottom: 6 days before cross. 2018 bottom: 4 days after cross. Currently: ~3 days before cross. #Bitcoin
Image
11:07 AM ∙ Sep 19, 2022
496Likes126Retweets

Risk On Or Risk Off?

Twitter avatar for @InterstellarBit
Interstellar @InterstellarBit
Bitcoin is a risk off asset for those who understand it Bitcoin is a risk on asset for those that don’t
11:50 PM ∙ Sep 20, 2022
683Likes96Retweets

Why Inflation Wouldn’t Increase Security

Twitter avatar for @zndtoshi
zender 🟨⬛ bitcoinomad @zndtoshi
Succinct explanation why inflation in Bitcoin wouldn't increase the security. h/t @HillebrandMax
11:35 AM ∙ Sep 20, 2022
209Likes31Retweets

Homeless Man Mines Bitcoin In 2013

Twitter avatar for @pete_rizzo_
RIZZO @pete_rizzo_
✨ Homeless man mining $100 #Bitcoin from a park bench in 2013
Image
1:20 PM ∙ Sep 20, 2022
527Likes67Retweets

Jobs

We have recently launched Bitcoinjobs.com! Looking for a job in the Bitcoin space? Visit Bitcoinjobs.com for more job openings.

What to read

Bitcoin Transaction Fees: The Future Economics Of Settlement Finality. Joe and Pierre outline the current fees and efficiency in Bitcoin, exploring the future economics and its impact on Bitcoin.

- Joe Burnett & Pierre Rochard


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The Bitcoin Minimalist Week 8 - White House CBDC, Encrypted Block Explorer, Rate Hikes

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