What is Bitcoin?

What is Bitcoin?

Bitcoin emerged in 2008 and was initially developed as a peer-to-peer electronic cash system. Bitcoin can be understood as a value store, meaning that a Bitcoin (or part of a Bitcoin) represents some amount of value. Another way to think of Bitcoin is as a virtual “currency” and payment system. Bitcoin is transferred from one person to another in a transaction, and the value is determined by what someone is willing to pay for it. Read more

Transformations to Open Market Operations

[I think this article clarifies that what is open market operations. So,  I would like to publish this most important article about Transformations to Open Market Operations written by Stephen H. Axilrod in 1997. – Chandra S. Stha]

Stephen H. Axilrod©1997 International Monetary Fund

Preface
The Economic Issues series was inaugurated in September 1996. Its aim is to make accessible to a broad readership of nonspecialists some of the economic research being produced in the International Monetary Fund on topical issues. The raw material of the series is drawn mainly from IMF Working Papers, technical papers produced by Fund staff members and visiting scholars, as well as from policy-related research papers. This material is refined for the general readership by editing and partial redrafting.

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