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Cryptocurrency: a guide for the rest of us

Articles about Bitcoin and other cryptocurrencies tend to fall at one end or other of a spectrum. At one extreme are the articles so heavy with the technical jargon of ‘consensus algorithms’, ‘blockchain’ and ‘unspent transaction output’, that anyone lacking a PhD in computer science will struggle to understand them. At the other extreme are the descriptions given in the mainstream press, which talk in loose language about ‘electronic money’ and ‘digital currency’ without attempting to explain what these concepts actually involve.