The US central bank has pumped more than $200bn (£160bn) into the financial system this week - the first time there's been such an intervention since 2008.
The Federal Reserve's aim was to stabilise what is usually a calm part of the market.
Interest rates in the so-called "repo market" had shot up to 10% in some cases - although the cost of borrowing in that market more typically hovers around the benchmark rate set by the Fed - around 2%.
So what happened and should we worry?
First things first: what's the repo market?
Banks, hedge funds and other players borrow money regularly on a short-term basis to ensure their books are in order, no matter what their daily activities.
The borrowers typically offer government bonds or other high quality assets as collateral, which they repurchase, plus interest, when they repay the loan - often the next day.
Those repurchase agreements give the repo market its name.
Bitcoin’s furious run is starting to look more and more like it did at the height of crypto-mania two years ago.
The virtual currency surged as much as 14% on Wednesday, topping $12,900 for the first time since January 2018, and bringing its gain since early April to more than 200%. Its relative strength index, a gauge of momentum, is now within a hair’s breadth of the level when the cryptocurrency peaked around $19,500 in 2017.
Cryptocurrencies have been gaining acceptance and attracting more interest from mainstream institutions, with JPMorgan Chase & Co. seeing client interest in a coin for bond transactions and Facebook Inc. making plans for a cryptocurrency called Libra, among other forays into the space.
A break above the $12,720 level “will allow for a complete retracement of the 2018 bear market,” according to Macro Risk Advisors founder Dean Curnutt, though…
Bitcoin: A Peer-to-Peer Electronic Cash System Satoshi Nakamotosatoshin@gmx.comwww.bitcoin.org Abstract. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending.We propose a solution to the double-spending problem using a peer-to-peer network.The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without re doing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the networ…
Bitcoin will be regulated to death. How?
Bitcoin exchanges will be unable to on-ramp fiat customers due to a ban by the banking industry. The banking industry will be regulated and ordered to not allow fiat transactions to or from exchanges. With exchanges barred from fiat banking, the price of Bitcoin will plummet and holders (hodlers) will sell. Bitcoin will become worthless and will die. This is what exchanges and their executives fear the most.
Doing simple analysis of Bitcoin in log view on Trading View.
It seems too good to be true for Bitcoin in the next few years.
A big part of me thinks we are missing something, and it is too good to be true. I think the undoing will be human greed, whereby transferring to real world assets and fiat currency will eventually mean the log charts we are all hopefully of, will never materialize.
It’s all about the digital scarcity
is the first and only digital object that is both quantifiably scarce
and provably secure. This makes Bitcoin the next logical evolution in
money… its just better money.
In the world of commodities, there is a spilt between monetary assets, those with a high stock-to-flow (SF) ratio, and standard commodities which have a utility value .
This matters because Bitcoin as the next money is just digital gold. Commodities with a SF above 1 are incredibly rare. Only Gold and Silver have SFs meaningfully above 1.
Stock-to-Flow (SF) = available stockpiles / annual production
In Q2 of 2019 Bitcoin had a stock of 17.5M and a flow of abou…
The man is insane...
Craig Wright dismisses “fake news,” then implodes, at Oxford University
man who would be Satoshi had his day at the Oxford Union, where a
heated exchange with Decrypt took a decidedly Trumpian turn.
By Ben MunsterCryptocurrencies
7 min readMay 1, 2019 Updated to include comments from Kyle Torpey. OXFORD, UK—Self-proclaimed Bitcoin
inventor Craig Wright appeared at the Oxford Union Tuesday night, to
regale the few dozen bored students who had turned up with his plans to
“restore the original Bitcoin protocol, to keep it stable, and to enable
massive on-chain scaling, to promote the global growth of…Bitcoin SV.” But we went for the Q&A. We had questions. The event began with Jimmy Nguyen, the
chairman of Bitcoin SV development firm nChain, who spoke fulsomely
about Bitcoin SV and how it would restore trust in our ailing
institutions. Wright followed, covering a range of predi…
First Golden Cross for Bitcoin in 3 Years as Bulls Return
Here’s yet another sign the crypto winter is thawing. Bitcoin, the largest digital currency, has formed its first bullish golden cross since October 2015, according to Bitstamp pricing that includes weekend moves. The milestone follows a 35 percent rally for Bitcoin past $5,600, on track for its best monthly gain since the height of the crypto frenzy in December 2017. The sudden resurgence has also been apparent in other parts of the market, including record contract trading volumes in the futures market at CME Group Inc. earlier this month.
Bitcoin uses a specific elliptic curve and set of mathematical constants, as defined in a standard called secp256k1, established by the National Institute of Standards and Technology (NIST). The secp256k1 curve is defined by the following function, which produces an elliptic curve:
y 2 = (x 3 + 7)over(? p)
y 2 mod p = (x 3 + 7) mod p
The mod p (modulo prime number p) indicates that this curve is over a finite field of prime order p, also written as ? p, where p = 2256 - 232 - 29 - 28 - 27 - 26 - 24 - 1, a very large prime number.
Modeling Bitcoin's Value with ScarcityBy Plan B Mar 22
Nakamoto published the bitcoin white paper 31/Oct 2008 , created the
bitcoin genesis block 03/Jan 2009, and released the bitcoin code 08/Jan
2009. So begins a journey that leads to a $70bn bitcoin (BTC) market
is the first scarce digital object the world has ever seen. It is
scarce like silver & gold, and can be send over the internet, radio,
" As a thought experiment, imagine there was a base metal as scarce as gold
but with the following properties: boring grey in colour, not a good
conductor of electricity, not particularly strong [..], not useful for
any practical or ornamental purpose .. and one special, magical
property: can be transported over a communications channel" — Nakamoto 
this digital scarcity has …