Things worth writing down.
Long-form articles on Bitcoin integration, custody, treasury, Lightning, and the kinds of decisions our clients face. Written for people who want depth, not marketing.
- 20 May 2026
May 2026 FCA Open Letter
A letter I sent to the FCA at the end of April 2026 regarding a misleading tweet. They did not respond.
- 18 February 2020
Cryptocurrencies Beyond Bitcoin?
Why I don’t talk about other uses of “blockchain technology” and other cryptocurrencies.
- 17 February 2020
Understanding Opportunity Cost and Bitcoin
"Never spend your Bitcoin, the opportunity cost is too high!" This is wrong. Hopefully I can convince you why.
- 2 February 2020
What is Intrinsic Value?
An exploration of the concept of "intrinsic value"
- 4 November 2019
Interview with a Bitcoiner
An interview-styled Q&A from a former employer
- 3 September 2019
“Virtual Currencies” according to the EBA
Breaking down the European Banking Authority's definition of "Virtual Currencies".
- 14 August 2019
The Bitcoin Block Size Debate
Should blocks be larger? smaller? stay the same? Why do people debate this and what are the arguments?
- 14 August 2019
A Primer on Money
What is money? This is a huge question with many possible answers and thousands of pages written on it. Here's a summary for those who don't want to read thousands of pages.
- 15 November 2018
Your "blockchain" project will fail because you don’t understand Bitcoin
If you think Bitcoin's strength is simply that it runs on a blockchain, there's a lot you need to learn.
- 14 November 2018
Bitcoin: Honest Money
What does it mean to say that Bitcoin is 'honest money'?
- 18 July 2018
A Response to CME’s “In-Depth Look at the Economics of Bitcoin”
Responding to the CME's groups statements about some aspects of Bitcoin's economic behaviour