The great bitcoin experiment

Bitcoin is a live, multi-billion-dollar experiment involving tens of millions of willing participants. It’s also a case study in game theory, the field of science that studies the interactions between decision makers whose choices affect each other. These are the central arguments of Hasu, the pseudonymous German cryptocurrency researcher who is our guest on the latest episode of the New Money Review podcast. According to Hasu, Satoshi Nakamoto’s 11-year old cryptocurrency is remarkable for its invention of a new collective incentive scheme, based on the translation of a real-world energy cost into a network carrying monetary value. At the same time, says Hasu, there are still unresolved questions about the long-term viability of bitcoin and its competitors. Listen on for the full discussion. The New Money Review podcast examines the future of money in 30 minutes.