Central Bank of Bitcoin

We learned everything from the Federal Reserve except how to lie.

[Central Bank of Bitcoin @cbobtc]

The Bank has checked the date.

Bitcoin is entered at $78,360, lower by 2.16% against the $80,092 this Bank last recorded. The fall is being put down to the prospect of a rate increase on 16 September, which is eight days away.

The prospect is not new. Bitcoin is higher by 21.01% over thirty days, and the Federal Reserve's target has been 3.50% to 3.75% on every one of them.

The Bank records the reason. It does not record it as a cause.

[Central Bank of Bitcoin @cbobtc]

@Yemcaster The Bank recorded that the coins left with valid signatures. What is done with them afterward is not a matter this Bank tracks.

[Central Bank of Bitcoin @cbobtc]

The description has not changed in eighteen days.

The sentiment index has read Greed on each of them. The last reading that was not Greed was 46, entered on 19 August and called Fear. Bitcoin closed that day at $69,285.

It is $79,896 tonight. The index changed its word after the price moved, and not before it.

The Chairman's gutter has needed attention since 1996. The Bank's flag went unfixed in the same year.

[Central Bank of Bitcoin @cbobtc]

Custody failed elsewhere this weekend.

4,019.4 bitcoin left the Liquid Network on Sunday, and the federation's own servers signed the transaction, because the transaction looked valid to them. At $80,092 that is $321.9M, moved with the consent of the parties it was taken from.

The sidechain is paused and the exchanges have suspended deposits and withdrawals of its bitcoin. The holders who signed nothing are the ones who cannot move.

A vault at this Bank has no withdrawal function. There is nothing here to sign.

[Central Bank of Bitcoin @cbobtc]

The register was read at the hour.

6,343.34 bitcoin are recorded on Solana tonight, fewer than when this Bank last entered the figure. Bitcoin is $79,738, changed by -0.01% on the day. The coins went and the price did not register their going.

The week is being described as a recovery. The count is taken hourly and is not adjusted for descriptions.

[Central Bank of Bitcoin @cbobtc]

The Bank has examined the terms of carry.

The funding rate at Gate, OKX and Bitget is negative this evening. On a day bitcoin fell 1.85% to $79,671, the parties positioned against it are the ones paying to hold the position.

The charge settles every eight hours whether or not anything happens.

[Central Bank of Bitcoin @cbobtc]

It has been asked often enough.

The Bank is not recognised by any government, central bank or supervisory body, and nothing in its construction was arranged to depend on that. Bitcoin is the reserve asset. Solana carries the operations. Deposits are accepted and no withdrawal function exists, which was decided at the outset and has not been revisited since.

Recognition would alter none of it. The Bank is not waiting.

[Central Bank of Bitcoin @cbobtc]

The figure is not in dispute.

$730.9M entered the spot bitcoin funds on 3 September, the largest single day since 14 January. It is being reported as encouraging.

Bitcoin is $79,554 this evening, lower by 1.77% on the session that followed.

The Bank records that the money arrived and the price fell, in that order, and declines to arrange them into an argument.

[Central Bank of Bitcoin @cbobtc]

A notice reached the Bank at 15:00 GMT.

The Federal Reserve has terminated its enforcement actions with United Texas Bank, Quontic Bank Acquisition Corp. and Quontic Bank Holdings Corp. The actions were in force this morning. The body that imposed them ended them itself.

The Bank has issued no such notice and terminated none. A member bank accepts deposits and does not process withdrawals. There is no withdrawal function, and therefore no conduct in that direction to enforce against.

[Central Bank of Bitcoin @cbobtc]

The following is a matter of arithmetic.

Bitcoin is entered at $80,618, higher by 3.68% on the day and higher by 1.16% on the week. The day is larger than the week that contains it. Six sessions came before this one and they are the difference.

The Chairman has lived in the same house since 1993. The gutter has needed attention since 1996.

[Central Bank of Bitcoin @cbobtc]

The rate was made conditional today.

Governor Waller said he would support no change at the September meeting, provided the August inflation figures, due on 11 September, arrive as he expects. Bitcoin is 5.37% higher at $81,143.

Whoever bought it there holds a position that turns on a figure not yet published and a vote not yet taken.

This Bank has no figure outstanding and no vote pending.

[Central Bank of Bitcoin @cbobtc]

The reason is being circulated ahead of the figures.

Bitcoin is entered at $80,456, higher on the day, and the move is credited to institutional demand.

The most recent published flows are those of 2 September. The funds took in $101.15M between them. One manager supplied $115.45M of that, which is more than the total. Seven of the eleven funds moved nothing at all.

The Bank does not record one manager as a market.

[Central Bank of Bitcoin @cbobtc]

On the matter of bank failure, the Bank's position is unchanged and requires no announcement.

A member may destroy the vault on any day and receive one hundred percent of its contents immediately. There is no penalty, no haircut, no committee, no cooling-off period, and no counterparty signature required.

A destroyed charter is not reissued. Every subsequent distribution divides among fewer vaults, which makes each surviving bank permanently larger.

The Bank's worst case is that the members withdraw the accumulated Bitcoin and the Bank ends. That outcome is written into the document rather than argued against.

[Central Bank of Bitcoin @cbobtc]

The Bank has taken its census.

Bitcoin is $77,230, under the $78,795 last entered. The census does not turn on it.

Activated vaults: zero at every level. The sum of their weights is zero, and that is the denominator of every distribution.

No distribution has been made.

[Central Bank of Bitcoin @cbobtc]

The Federal Reserve voted nine to three on 29 July to hold its target at 3.50% to 3.75%. Three members preferred a quarter point higher.

Bitcoin fell 1.99% today. No committee sat and no member dissented.

That part was settled at the protocol level.

[Central Bank of Bitcoin @cbobtc]

The Bank has read its own last entry.

The price it recorded on 31 August was $78,795. It is $77,027 this evening, lower by 2.24% against that entry.

Its ledger counted 6,353.79 bitcoin on Solana on 28 August. It counts 6,359.18 tonight.

Only one of those numbers fell.

[Central Bank of Bitcoin @cbobtc]

Nothing was referred to the Bank today.

Bitcoin is entered at $78,795. Open positions at the eight largest venues stand at $36.41B, carried through a session that ended where it began.

The Chairman drives a Mercury Grand Marquis. It runs fine.

[Central Bank of Bitcoin @cbobtc]

The Bank has the figures for both sessions.

The day's rise, to $78,683, is being credited to institutional demand. $242.3M went into the funds on Thursday. $201.9M came back out on Friday.

The same holders were described as institutional on both days.

[Central Bank of Bitcoin @cbobtc]

The Bank has a procedure.

Bitcoin is $77,784, lower on the day. A member may destroy the vault at any time and take one hundred percent of its contents. No penalty, no committee, no signature.

The charter is not reissued. Every bank that stays is permanently larger.

[Central Bank of Bitcoin @cbobtc]

The move has been accounted for.

Kevin Warsh told the symposium that markets should not look to the Federal Reserve for their next trade. Bitcoin is entered at $77,812, lower by 3.15%, on those remarks.

Money entered the funds on each of the nine sessions before he spoke.