Author: D. M. Faraday

D. M. Faraday is the editorial voice of All Roads Lead to Bitcoin. He writes about Bitcoin the way a patient teacher would, starting from the evidence, skipping the hype and the price predictions, and clearing away the jargon that keeps most people from ever giving the subject a fair hearing. The idea behind the work is an old and stubborn one: complex things belong to everyone, not just the people already fluent in them. The pen name creates separation between the project and the person, keeping the focus on the arguments and the evidence rather than a personality. No ticker to answer to, no forecast to sell. Just the evidence, examined one myth at a time.

  • The Fork That Didn’t Change Bitcoin

    ByD. M. Faraday Hours

    A live case study. In 2026 a group could not change Bitcoin, so they launched a separate BLAKE2b chain. Bitcoin ran on unchanged, and almost no one followed.

  • Bitcoin’s Real Supply Cap

    ByD. M. Faraday Hours

    Bitcoin’s Real Supply Cap: Why It Isn’t Exactly 21 Million Bitcoin’s issuance schedule tops out at 20,999,999.9769 bitcoin, and the number that ends up in circulation will be lower again. Everybody rounds to 21 million, including us. It’s worth knowing what gets rounded away, because the direction of the error is the interesting part. Short…

  • Three Questions to Ask About Any Money

    ByD. M. Faraday Hours

    Three Questions to Ask About Any Money: Verifying Bitcoin, Gold, and the Dollar The Federal Reserve publishes how many dollars exist. The Treasury publishes how much gold sits in Fort Knox, down to a thousandth of an ounce. Both numbers are public, and you can’t check either one. That’s the difference worth understanding. Short Answer…

  • The Bitcoin Power Law: The Pattern in the Price

    ByD. M. Faraday Hours

    The Bitcoin Power Law: The Pattern in the Price On a normal price chart, Bitcoin looks like chaos. On one particular kind of chart, fifteen years of that chaos lines up into a straight line. That line is the Bitcoin power law, and it’s useful as long as you know what it can and can’t…

  • Money Is a Competition: What Really Backs Bitcoin, Gold, and the Dollar

    ByD. M. Faraday Hours

    Money Is a Competition: What Really Backs Bitcoin, Gold, and the Dollar The question “what backs Bitcoin?” assumes money needs something standing behind it. It doesn’t. Money is a competition, and what people hold turns more on how well something works as money than on what stands behind it. Short Answer Bitcoin isn’t backed by…

  • What Is a Hard Fork?

    ByD. M. Faraday Hours

    What Is a Hard Fork? A group of people can copy Bitcoin’s code and start a new chain any time they like. Almost none of them ever change Bitcoin itself. A hard fork is the tool they reach for, and the history of every attempt shows why the tool splits off a new network far…

  • The Bitcoin genesis block

    ByD. M. Faraday Hours

    The Bitcoin Genesis block Bitcoin’s very first block, mined on January 3, 2009, carries a line lifted from that morning’s newspaper, a headline about a government bailing out its banks. It works as a timestamp. It also reads as a reason. Bitcoin began by pointing at the thing it was built to replace. Short Answer…

  • The first Bitcoin transaction

    ByD. M. Faraday Hours

    The first Bitcoin transaction The first bitcoin transaction happened on January 12, 2009, when Satoshi Nakamoto sent 10 bitcoin to a programmer named Hal Finney. It looks like a footnote next to the Genesis block, but it matters more. A network of one is just a program running. This was the day a second person…