What is Bitcoin?

People will ask, “What is Bitcoin?”. The answer depends on who you are. If you are an anarcho-capitalist, maybe you see Bitcoin as a step to overthrowing the government. If you are an economist, you see Bitcoin as a hedge against the cabal of banks who ruthlessly print money, backed by the promises of the […]

What is a Schelling Point?

Sometimes when listening to Bitcoin related podcasts, you will hear this term “Schelling point”. I’ve heard this phrase before, but it seems to be one of those concepts that you understand implicitly, without being able to explain explicitly. A Schelling point refers to a focal point, that people will use to coordinate, without communicating explicitly. […]