2min chapter

Decoder with Nilay Patel cover image

Is there a future for Bitcoin? An investor and a skeptic make their case

Decoder with Nilay Patel

CHAPTER

Bigcoin - The Tyranny of Structurelessness

There is a real structurelessness. I think it's sort of beautiful in a chaotic way that it's is organic, laborative, open source phenomenon. The debates really do happen in the open. It's just they don't happen in a specific place. If you are early to an idea, which then becomes more widespread, there's a risk premium in the uncertainty. And so that is where the financial return comes from. But i think the thing to understand is that bigcoin's key features actually don't change that often.

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