A “royal fork” is a chess tactic where a single piece attacks the opponent’s king and queen simultaneously.
Continuation from Round 10, Petrosian - Spassky World Championship Match (1966)
It’s rather poetic. We have the king; the most important piece in the game which must be protected at all costs; and the queen; a piece stronger than the next 2 most powerful pieces combined. In the above position, the almighty king and dominant queen both find themselves unescapably ensnared by a single, lowly, well positioned knight. The royal fork reminds us that it doesn’t take an army to push around 2 towering, seemingly unassailable pieces…..just an idea and stellar execution.
I think this serves as a decent metaphor for bitcoin. Like the knight, Bitcoin has positioned itself squarely between 2 giant institutions; the State, which regulates the monetary system, and the federal banking system, which runs the monetary system. Unlike the chess analogy, I don’t think the relationship between Bitcoin, States, and banks is or should ever be adversarial. Chess has clear winners and losers; the real world can accomodate success for everyone.
I’m a programmer by trade, but have always been interested in banking, economics, and politics. Bitcoin is the intersection of all the things I love and am passionate about. This blog will follow my personal journey as I learn more and more about Bitcoin, in all it’s facets.
In the next months, I hope to cover, among other things:
- Deep technical dive into the core protocol
- Make your own wallet software
- Broadcast transcations
- Navigate the blockchain
- Program contracts
- Describe our current monetary system
- Outline history of government monetary regulation
- Compare monetary policies of different nation states
- Define the money supply and describe how it works
- History of Money
- How did our monetary policy evolve to where it is today?
- What lessons can we learn from both good and bad monetary policy?
- Game Theory and Bitcoin
- What scenarios are good for bitcoin?
- How does Bitcoin go mainstream?
- Economics of bitcoin mining
To the moon.
PS: I own bitcoin, and have gotten paid exclusively in bitcoin for most of 2014.