This morning’s Observer column:
When the banking system went into meltdown in 2008, an intriguing glimpse of an alternative future appeared. On 31 October, an unknown cryptographer who went by the name of Satoshi Nakamoto launched what he described as “a new electronic cash system that’s fully peer to peer, with no trusted third party”. The name he assigned to this new currency was bitcoin.
Since then, the world has been divided into three camps: those who think that bitcoin must be a scam; those who think it’s one of the most interesting technological developments in decades; and (the vast majority) those who have no idea what the fuss is about.
I belong in the second camp, but I can see why others see it differently…