The question of what is Bitcoin seems at first to be an obvious one: «Bitcoin is a decentralized peer-to-peer digital currency created by Satoshi Nakamoto». But within this simple answer, lying hidden behind the all-encompassing word «currency», is a…

Ancient currencies, like grain, were backed up by the currency’s intrinsic use value. The US dollar, up until the latter half of the 20th century, was backed by gold. Now, it is backed up by a government willing to…