It’s hard to believe that a whole year has passed since I last wrote on the topic of bitcoin, and my remaining 1 bitcoin is worth rather less than it was back then. During the week I presented at the Sydney Financial Mathematics Workshop on the topic of bitcoin, taking a rather more technical look at the mechanics of the blockchain than in my previous posts here on the Mule. For those who are interested in how Satoshi Nakamoto solved the “double spend” problem, here are the slides from that presentation.
As part of my preparation for the presentation, I read Bitcon: The Naked Truth About Bitcoin. If you are a bitcoin sceptic, you should enjoy the book. If you are a Bitcoin true believer, you will probably hate it. It is over-blown in parts and gets a few technical details wrong, but I am increasingly convinced by the core argument of the book: the blockchain is an extraordinary innovation which may well change the way money moves around the world, but bitcoin the currency will prove to be a fad.