A book by Eric Voskuil consisting of interconnected topical texts about Bitcoin and economics. We introduce it here through its introductory material and two selected essays, explicitly distinguishing the author’s arguments from the scope of our reading.
Eric Voskuil is the author of Cryptoeconomics; James Chiang is credited as editor and illustrator. The author’s website describes its origins in short texts on the Libbitcoin wiki. The first edition was printed for a conference in Hanoi in February 2020. These origins help explain the book’s form: individual arguments create a network of references rather than a continuous narrative. [1] [2]
The author’s website distinguishes the first edition from the later, globally available second edition. The chapter list remained unchanged, but some content changed substantially. We worked with the public English PDF, version 1.2.3. A link to the updated wiki therefore does not by itself establish that every sentence matches an older printed copy. [1]
In the preface, Voskuil assumes knowledge of both Bitcoin and economics and describes a deductive approach from starting assumptions. Readers benefit from tracking precisely those assumptions: agreeing with a conclusion without understanding its premises does not provide the same support as checking the argument. We do not assess the book here as a practical course in operating a wallet. [2]
The contents divide topics among the security model, the state, mining, alternatives, economics, money, price and scaling; a glossary appears at the end. For independent reading, we recommend recording links between claims and distinguishing definitions, assumptions and derived conclusions. Our analysis focuses on the two specific essays discussed below. [2]
In Axiom of Resistance, the author explicitly treats the possibility of resisting state control as an assumption rather than a proven fact. An illustration compares it to the different starting premises of geometric systems. In our reading, the key is not to turn that argumentative choice into a promise that a particular system will resist every intervention. [2]
Price Estimation compares different hypotheses about replacing money and credit. Its calculations use historical inputs and further assumptions about growth, available supply and the extent of use. We do not reproduce the table here as a price target. When reading, it is useful to ask what must happen for a given scenario to be applicable at all. [2]
We separate explaining the book from independently confirming its economic conclusions. For further study, readers can record the accepted assumptions, derivation and questions requiring separate verification for each argument. Likewise, the author’s criticism of another approach must be distinguished from independently documented consensus that it is invalid. [2]
We read the preliminary material including the contents, the complete Foreword, Preface and Introduction, and the complete essays Axiom of Resistance and Price Estimation. These are physical PDF pages 1–34, 37–38 and 291–294; for the essays we also viewed the illustration and price table. We did not read the other main chapters or all referenced sources. We performed no independent validation of the price model or operational test. [1] [2]
For the clearest picture, read this entry together with Consensus Rules, Mining, Proof of Work, Full Node.
01Is Cryptoeconomics a general encyclopedia of all cryptocurrencies?+
This entry introduces a specific book by Eric Voskuil focused on Bitcoin and economic arguments. The generic meaning of its title must not obscure the author, the version used or the actual scope of the text read.
02Can I use the price table as a current prediction?+
We do not validate it that way in this overview. Its calculations depend on historical inputs and hypothetical scenarios. Before using them, the inputs, assumptions and derivation would need separate assessment; here we discuss how to read the argument.