The alchemy of bitcoin

news from The Week - Business

Bitcoin is a fantasy. I did not realize this at first. For years now, I have had only a vague idea that bitcoin is a kind of fake money that people use on the internet. I gathered that it has something to do with libertarians and Silicon Valley and the kind of person who thinks that in 10 years we will all be living on crowd-funded ocean platforms with open-source minarchist constitutions. If I were taking one of those psychological free-association tests and bitcoin came up, the words I...


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