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Digital Cash: The Unknown History of the Anarchists, Utopians, and Technologists Who Created Cryptocurrency

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The fascinating untold story of digital cash and its creators--from experiments in the 1970s to the mania over Bitcoin and other cryptocurrencies

Bitcoin may appear to be a revolutionary form of digital cash without precedent or prehistory. In fact, it is only the best-known recent experiment in a long line of similar efforts going back to the 1970s. But the story behind cryptocurrencies like Bitcoin and its blockchain technology has largely been untold--until now. In Digital Cash, Finn Brunton reveals how technological utopians and political radicals created experimental money to bring about their visions of the future: to protect privacy, bring down governments, prepare for apocalypse, or launch a civilization of innovation and abundance that would make its creators immortal. Filled with marvelous characters, stories, and ideas, Digital Cash is an engaging and accessible account of the strange origins and remarkable technologies behind today's cryptocurrency explosion.

ISBN-13: 9780691209166

Media Type: Paperback

Publisher: Princeton University Press

Publication Date: 10-13-2020

Pages: 272

Product Dimensions: 5.50(w) x 8.50(h) x 0.80(d)

Finn Brunton is associate professor in the Department of Media, Culture, and Communication at New York University. He is the author of Spam: A Shadow History of the Internet.

What People are Saying About This

From the Publisher

“A fascinating and important book that addresses big questions about cryptocurrency: What is money? How can virtual things have lasting value? And what does the explosion of cryptocurrency mean for the global economy? I can’t think of another book on the subject that accomplishes so much in such a concise and readable way.”—Nathan Ensmenger, author of The Computer Boys Take Over

"Brunton's wildly inventive history reveals the dystopian visions that drove the creation of digital cash. Both a lucid unfolding of the technologies inside of money and a thrilling page-turner that takes us from secret WWII-era codebooks to cryopreservation sci-fi, Digital Cash is the rarest of books: engaging, philosophical, and urgent."—Tung-Hui Hu, author of A Prehistory of the Cloud

"Digital Cash is the history of the internet in inverted color. It's a story full of passionate, misguided, utopian, and paranoid characters at the center of a fevered money-dream. From company scrip to Bitcoin, from anticounterfeit technology to missed cryptographic connections, Brunton's book is bedazzling cultural history."—Christopher M. Kelty, University of California, Los Angeles

“A very important book.”—Lana Swartz, coeditor of Paid: Tales of Dongles, Checks, and Other Money Stuff

"Ever wondered why anyone would build cryptocurrency? Finn Brunton dances across the fantasies that inspired its development. From the demise of governments, to spontaneous market order, to immortality, he shows us that cryptocurrency runs on techno-utopias both familiar and strange and reveals how these far-out visions are shaping our daily realities."—Caitlin Zaloom, New York University

Table of Contents

Introduction: The Passing Current 1

1 Speculating with Money 6

2 Secure Paper 21

3 Recognizable without Being Known 33

4 Blinding Factor 47

5 Collapse of Governments 62

6 Permanent Frontiers 80

7 Nanosecond Suitcase 97

8 Hayek in Biostasis 118

9 Future Desires 135

10 Emergency Money 153

11 Escape Geographies 171

12 Desolate Earth 187

Conclusion: Sometime in the Future 202

Acknowledgments 207

Notes 209

Bibliography 227

Index 245