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Bitcoin is Worse is Better

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%3 cluster_aa38f291_3f7a_4ba1_8ec2_b67da03e7833 Bitcoin is Worse is Better _603bcc70_c827_439d_8f4d_7b3666512bcd Pricing via Processing or Combating Junk Mail __0:cluster_aa38f291_3f7a_4ba1_8ec2_b67da03e7833->_603bcc70_c827_439d_8f4d_7b3666512bcd 
2011 essay on how Bitcoin’s long gestation and early opposition indicates it is
an example of the ‘Worse is Better’ paradigm in which an ugly complex design
with few attractive theoretical properties compared to purer competitors
nevertheless successfully takes over a niche, survives, and becomes gradually
refined.