In recent weeks, I have embarked on a journey that many investors have travelled before me. I put a metaphorical wet towel over my head and immersed myself in the world of cryptocurrencies.
It has been strikingly hard. This is partly because crypto, like any area of accelerated innovation, is a cultish place where insiders have extensive knowledge that defines them as a tribe. At present, society is split between a small minority of players with a PhD-level understanding and a kindergarten audience, with little in between.
The other problem is that this world requires an unusual blend of intellectual skills. Alexander Lipton, a friend, Wall Street veteran and maths professor, outlines the issue in a book he recently co-authored on the topic, Blockchain and Distributed Ledgers.