Is Bitcoin the perfect money, or is it the worst money that solves the most essential problem, as simply and reliably as possible? In true "New Jersey” style, Bitcoin doesn’t attempt to be everything, it attempts to do ONE thing as beautifully, & as unambiguously as possible.

Today we read a fascinating piece from Bitcoin’s rich history, originally published in 2011, and edited, added to, and updated for years since. At Gwern.net, Bitcoin is Worse is Better:

https://www.gwern.net/Bitcoin-is-Worse-is-Better

Don’t forget to check out the original piece with a literal ocean of links and further exploration. If you want to waste 15 minutes, or half a day, there’s more than enough to explore.

As a great (& short) read to accompany this on the “Rise of Worse is Better” philosophy, check out the original post by Richard P. Gabriel below:

https://dreamsongs.com/RiseOfWorseIsBetter.html

For more on the history of Bitcoin, the open source movement, and the “worse is better” design philosophy, I highly recommend the Iterative Capital Thesis on The Cryptocurrency Phenomenon:

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