The Bitcoin Minimalist Week 13 - $13 Billion Biden Energy Relief, Iris Energy, Deribit Hack and More
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Biden Admin Plans For Energy Bill Relief
At the beginning of a natural gas energy crisis, the Biden admin plans to issue $4.5 billion for low-income households, CNBC reports. This is to provide payments for their high energy bills. Another $9 billion will go to low-income households to help with energy-efficient home upgrades.
Lightning Network Bug
There was an exploit to LND yesterday, shutting down almost half of the entire lightning network, down for almost half a day. Lighting Labs promptly sent out a fix. Tony covers this more here.
Bitcoin Whitepaper Anniversary
The Bitcoin Whitepaper Anniversary was on Oct 31st, this past Monday. Coincidentally or intentionally, it was released on the same day Martin Luther started The Reformation, the separation of church and state. Rizzo talks interesting facts on the whitepaper here.
Iris Close To Default
News this morning from Global Wire stated that Iris could pay for less than 50% of its loan for its miners with their revenue.
Deribit Hacked for $28 Million Halting Trades
Deribit’s hot wallet was hacked this morning. They have halted all trading and fund transfers. According to Twitter, Deribit keeps 99% of customer funds locked in cold storage.
Bitcoin Continues on its journey sideways, falling from the weekly high of almost $21k.
Historically, Bitcoin has made unprecedented moves while in an environment of low volatility and sideways price action. This could either be up or down, but according to past events, Bitcoin will move soon.
Some historical charts show us bottoming here, but a bigger macro recession may push us lower. Only time will tell.
Bukele Calls Out the FED
Lightning May Solve Bot Problem
Bitcoin Payments In Africa
Bitcoin Light Show
3 Out Of 32 Halvings
What to read
Energy Problems: Yes, Still There - A Macro look at the energy crisis and what that means for the global financial system
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