Long-form pieces putting recent crypto developments in context, with original research where we can add it.
GTA Online runs one of the largest virtual economies on the planet — billions in annual revenue, runaway in-game inflation, and a casino that generated real controversy. There are real lessons here for anyone watching crypto markets.
Solana processes thousands of transactions per second at fractions of a cent. How it works and how it compares to Ethereum.
Crypto moves in dramatic boom-and-bust cycles. Understanding the pattern — and your own psychology within it — is invaluable.
The 'digital gold' comparison has been argued endlessly. Here are five different frameworks for thinking about it — and what each one actually implies.
On-chain analytics promise unique insight into crypto markets. Here is what they actually measure, what they tell you reliably, and where the popular metrics oversell their conclusions.
Every four years, Bitcoin's new supply is cut in half. Here is what actually happens and why predictions based on it should be treated with care.
The two dominant ways blockchains reach consensus differ in security model, energy use, and political economy. Here is a careful comparison.
Bringing traditional financial instruments onto blockchains is one of the fastest-growing trends in crypto. Here is what is actually happening and why it matters.
Decentralization is treated as either obvious or pretentious depending on who is talking. Here is a careful argument for why it matters.
The two largest cryptocurrencies serve different purposes, have different risk profiles, and attract different kinds of investors. Here is how to think about the choice.
A timeline of Bitcoin's first 17 years — the major events, the lessons learned, and what each cycle taught the people who lived through it.
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