Everything you wanted to know about Bitcoin - a brilliant technological breakthrough

On Bitcoin, most of the world will usually fall into one of two opposing camps. In one camp are the technologists who comprehend the true nature and the full potential of this innovation. These are believers who unfortunately refuse to acknowledge any weakness in the Bitcoin system. In the other camp are complete naysayers - generally economists and finance guys, who are basically unable to comprehend the technological innovation of Bitcoin, and are content with making general disapproving noises about the concept. I will try to provide a balanced view, for which it is important to appreciate that Bitcoin is indeed one of the greatest-ever innovations in finance. It is definitely a lot cleverer than any of the theoretical bunkum taught in B schools' finance courses - capital asset pricing model, alpha, beta, Black Scholes Model, blah blah.