Crypto-Current (007)

§0.1 — Chapter One provides an introduction. It takes a short Satoshi Nakamoto text* as its point of departure, in order to capture Bitcoin as larva.* Its intimate relation with the history of cryptography is supplemented by something hidden, working out through it. Word becomes code.

§0.11 — At the beginning there is a yet-underestimated philosophical work. Whatever happens to Bitcoin, its status as a decisively important document will be secure. Furthermore, reflexively, what is meant by a ‘document’ will never again be the same, after logical envelopment by the category of the ledger entry. Documentation has crossed a new threshold of mechanization. Bitcoin the documentary is thus an exposé in which nothing is hidden, unless behind a fully-manifested mask. It binds publicity to security. All Bitcoin does is secure documentation, which is enough.

§0.12 — The entire cycle is captured by this preliminary diagram, as an “electronic cash system”. In the closure of this cycle, a rupture – or irreversible occurrence – has taken place, comparable in structure and scale to Gödelian transcendental arithmetic, and to Public Key Encryption. Money changes phase, with an abrupt radicality from which there can be no return.

* ‘Bitcoin P2P e-cash paper’ (2008/11/01)

** A larva is a mask, and a cryptic (infolded) potentiality.