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Truth Decay - How Bitcoin Fixes This, grew from a question I began asking while trying to build a dental practice during the Global Financial Crisis:
How does our financial system actually work?
That question led me into the history of money, banking, debt and eventually Bitcoin.
By the time I wrote Truth Decay, I had become convinced that many of the problems I had discovered could be traced back to the rules surrounding money — and that Bitcoin offered an extraordinary alternative.
This book tells that story.
It explores how money works, what Bitcoin is, why its decentralised structure fascinated me and why I came to believe it could provide the foundations for a very different financial future.
I still stand behind much of that journey.
But the story didn't end when I finished the book.
And that's where your bonus begins.
Explore:
How our modern monetary system developed
What led me to Bitcoin
How Bitcoin works and what makes it different
Why decentralisation became so important to my thinking
Why I believed Bitcoin's rules could produce better outcomes

After writing Truth Decay, I continued learning.
I ran Bitcoin and Lightning nodes. I became more involved with the technology. I spoke about Bitcoin at conferences and continued writing about money, politics and decentralisation.
The more I learned, however, the more complicated some of my earlier conclusions became.
Recent disagreements within Bitcoin eventually forced me to confront a question I hadn't expected to be asking:
If Bitcoin's greatest strength is its decentralisation, who really makes the rules when its participants disagree?
That question became the beginning of a new five-part series.
When you purchase Truth Decay, I'll give you access to the complete series so you can follow the journey from the conclusions I reached in the book to the questions I'm asking today.

A disagreement over changes to Bitcoin Core challenged some of my assumptions about decentralisation and ultimately led me to switch off my own nodes. But doing so raised a much bigger question about what running a node really means.
If node runners don't make Bitcoin's rules, who does?

Bitcoin has no CEO, government or central authority. Instead, power is distributed between developers, miners, node operators, businesses and users. But what happens when those participants disagree about the network's direction?
Who ultimately decides what Bitcoin becomes?

From Magna Carta to modern government, societies have repeatedly tried to use rules to constrain power. Bitcoin attempts something different: rules maintained through a decentralised network rather than imposed by a central authority.
Can rules constrain power without eventually becoming another source of it?

Bitcoin may be decentralised by design, but decentralisation also depends upon people being able to participate independently. As the demands of running and using network infrastructure grow, participation may become harder.
Can decentralisation survive if meaningful participation becomes increasingly demanding?

Before Truth Decay, I planned to write a book called Bad Rules. Years later, questions about Bitcoin have brought me back to that abandoned idea and a much broader investigation into rules, incentives and unintended consequences.
Why do systems designed to produce good outcomes so often produce bad ones?
Plus, you'll receive my future newsletters as the investigation continues.
When I wrote Truth Decay, I wasn't trying to write the final word on Bitcoin. I was documenting where years of questioning had taken me.
Since then, I've continued questioning.
Rather than quietly updating my old arguments to match what I believe today, I want to leave the intellectual journey intact.
The book represents one important stage of that journey. These five newsletters represent the next.
And what follows them is something I am only beginning to discover.
Victoria Collette Jones
Author of Truth Decay - How Bitcoin Fixes This

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