Autonomics

It is the nature of radical discoveries to be wildly misunderstood by their contemporaries. It is inevitable to some degree. If most well-prepared minds were already expecting something similar to be discovered, chances are that those discoveries would have been made earlier, and would not have appeared as radical as they did. I believe Bitcoin to be a radical discovery. I argue that Bitcoin and its peers cannot be understood from the classical perspectives, thus, I am rolling my own. Enjoy!

Autonomics

Abstract: We propose the definition of a new field of study named autonomics. This field is characterized by the study of complex machine-driven systems purposefully built around well-chosen economic incentives which ensure the survival of those systems. We argue that Bitcoin (Satoshi Nakamoto, 2008) was a foundational study that triggered the emergence of autonomics. The introduction of a distinct field of study is motivated by the fundamental misunderstandings that emerge when systems - like Bitcoin - are approached from more traditional perspectives. Beyond this, autonomics may provide a superior perspective to reason properly about Bitcoin, its peers and its dependent sub-systems.

PDF at https://blog.vermorel.com/pdf/autonomics-2018-05-29.pdf