Rabbit Hole Recap RABBIT HOLE RECAP #375: THE POWELL PARLAY
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Sep 17, 2025 Dive into discussions about the potential Fed rate cut and its implications for Bitcoin mining. Explore the heated debate surrounding hate speech and free speech, impacted by recent remarks from AG Pam Bondi. Discover new tech updates, including Bluesky's age verification rollout and Strike's decision to waive Bitcoin direct-deposit fees. Plus, learn about the innovative Fedimint eCash wallet and CakeWallet's Cupcake offline signer. This podcast serves a rich mix of finance, technology, and social issues.
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Sub-1 Sat Relay Changed Miner Economics
- Miners accepting sub-1 sat/vByte transactions mined an extra ~7.5 BTC from otherwise-unused block space.
- Normalizing lower relay thresholds can create small but real additional revenue for miners during low-demand periods.
Relay Defaults Strongly Shape OP_RETURN Use
- Only 0.007% of OP_RETURN outputs created in August were larger than 80 bytes, showing defaults shape behavior.
- That suggests relaxing relay defaults may not drastically change on-chain OP_RETURN usage long-term.
Markets Priced A 25bps Fed Cut — But Watch Fed Rhetoric
- Polymarket priced a 25 bps Fed cut at ~91% ahead of the FOMC, signaling market consensus.
- Marty and Odell warn traders mostly price the cut already, while comments about a 'third mandate' could move markets more.