Bitcoin’s Not Nothing, But Not Something Either: Mark Gilbert

A few weeks ago, a reader emailed to challenge what he described as our “cautionary, skeptical and net negative” stance on Bitcoin. To make the case, our interlocutor, who wishes to remain unidentified, cited a series of blogposts written by Allen Farrington, a former fund manager at Baillie Gifford & Co., highlighting one example in particular:

Ludwig Wittgenstein once asked a friend, “tell me, why do people say it is more natural to think that the sun rotates around the earth than that the earth is rotating?” The friend said, “well, obviously, because it just seems like the sun is ...