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The entertainment value of bitcoin

Every week, millions of people in the UK gamble on the National Lottery. They’ll be rich beyond belief if they win, but the chances are infinitesimal. Everyone knows it. They still buy tickets.The explanation is simple, and it goes a little way to explaining the phenomenon of bitcoin: it’s something to do, to think about, to talk and dream about. In a word, it’s entertaining.Bitcoin, and cryptocurrencies in general, are not directly analogous to the fairly mundane practice of buying a Lottery ticket, but this part of its appeal is often ignored in favour of more intellectual or high-brow explanations.It has all the hallmarks of a fun game, played out across the planet with few barriers to entry and all the joy and pain that usually accompanies gambling.There’s a single, addictive reward

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Every week, millions of people in the UK gamble on the National Lottery. They’ll be rich...

Kadhim Shubber
He is a freelance journalist who first bought bitcoins so that he could buy a beer at The Pembury Tavern, Hackney’s bitcoin pub. He has reported for Slate, Wired, The Daily Telegraph, The Sunday Times and Ampp3d. He is currently studying for a Masters in Journalism at City University London.

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