British Museum blog

Bitcoin: how do we display the intangible?

bitcoin minerBenjamin Alsop, curator, British Museum

The Citi Money Gallery charts over four millennia’s worth of monetary history. The Department of Coins and Medals cares for over one million objects in the Museum’s collection and like any museum with a growing collection, the most pressing questions are what should we collect and where should we put it all? Yet a recent concern for me as the curator of the Citi Money Gallery is not which objects should I select from our vast collection for a new display, but whether we had any suitable objects at all. This may sound like the murmurings of an eccentric curator, but let me explain myself.

Bitcoin token, designed by Mike Caldwell (CM 2012,4040.4)

Bitcoin token, designed by Mike Caldwell (CM 2012,4040.4)

If the gallery is to be a record of the changing nature and form of money through the ages, then it is just as important to reflect the modern world as it is ancient Greece or Rome. Modern technologies, and in particular their application, are having huge effects on the world of finance but also on society in general. As a result it would be remiss of the gallery not to discuss a particular current monetary phenomenon. I speak of course about ‘cryptocurrencies’, digital de-centralised currencies which began with the invention of Bitcoin in 2009. Since its opening in summer 2012, the Citi Money Galley has always had a bitcoin token on display, made by the software developer Mike Caldwell.

However this is really just a token for the collectors’ market, a physical manifestation of something which was never intended to exist in a tangible way. So the display at first did seem rather tricky, tricky but not impossible. Objects are at the very heart of everything we do at the Museum and while we couldn’t display a real ‘bitcoin’, there was a wealth of other material culture which could help tell the story.

The paper ‘Bitcoin: A Peer-to-Peer Electronic Cash System‘ published in 2009 seemed to be the sensible place to start. Written by the unknown (although not so unknown if you are to believe an article in Newsweek magazine) Satoshi Nakamoto, it brought to the world’s attention a possible new form of currency and so is included in the display.

Bitcoin miner USB stick

Bitcoin miner USB stick

Record of the first bitcoin block mined

Record of the first bitcoin block mined

While Bitcoin is the most well known of the cryptocurrencies it has spawned over one hundred other purely electronic cash systems since its creation. The major thing that these currencies have in common is that they are created using complex computing. To this end a bitcoin mining machine (pictured above) is displayed in the gallery with a record of the first Bitcoin block mined on 3 January 2009.

Dogecoin logo, designed by Christine Ricks

Dogecoin logo, designed by Christine Ricks

Bitcoin Magazine Issue 16: To the Moon (November)

Bitcoin Magazine Issue 16: To the Moon (November)

One of the most interesting aspects of cryptocurrencies is that at the moment their use is as much a lifestyle choice as an economic one. You only need to look at the logo of ‘Dogecoin‘ to see that while Bitcoin and its descendants are a serious attempt to offer alternatives to traditional currencies, there is playfulness at work. Attempts to popularise and promote Bitcoin use similarly arresting graphic designs and so the inclusion of Bitcoin Magazine into the display adds colour and imagery.

For all the evident ingenuity at play, much of the negative press surrounding Bitcoin is as a result of its unpredictability. A look at its price from a height of over US$1000 in December 2012 to its current price hovering around US$450, is evidence of this fluctuation. The final object on display is at first glance rather straight forward. It is a Smile Bank account document recording the transfer of pounds sterling from a British bank account to a Bitcoin exchange in Japan. The exchange was called Mt. Gox, the largest exchange in existence in 2013, handling around 70% of all bitcoin transactions. However, in February 2014 Mt Gox filed for bankruptcy after declaring the loss of over 650,000 bitcoins. How this vast amount was lost, an amount worth hundreds of millions of dollars at the time, is still being investigated. The plainness of the document hides a cautionary tale about the volatility of all financial investments.

The Money Gallery is supported by Citi

If you have any thoughts on what other objects would help tell the story of Bitcoin or cryptocurrencies generally, please tell us about them in the comments. To leave a comment click on the title

Filed under: Money Gallery, , , , , ,

4 Responses - Comments are closed.

  1. Perhaps the most interesting feature of Mike Caldwell’s physical coin is found on the reverse side of the coin you have pictured. There you can find the public address of the bitcoin. Anyone can check the balance at that address and watch if the bitcoin is ever “spent”. Why not display the back side of the coin here on the blog? In addition, if museumgoers fancy it, they can send their own bitcoins to the public address on the coin, thus increasing the curiosity of the coin itself.

    Like

    • Hi Mike. We have deliberately avoided publishing an image of the reverse. We found that people were using the address to make donations to the Museum. While altruistic, the tokens are in fact registered objects in the collection, and we are unable to access the Bitcoins that people donate because it would mean destroying the holographic strip, resulting in damage to the object. To discourage people from donating (and in effect wasting their money) we now only publish images of the obverse. For the moment, people can still support the Museum by donation, but only in traditional currency! Tom Hockenhull, curator, British Museum.

      Like

      • Perhaps those aren’t donations but transactions of a different character? I know of few other museum pieces where the viewer can directly increase (and not decrease) the value of the piece and do so anonymously. While I agree that you should keep the hologram intact, I don’t believe the people sending that address money are necessarily under the impression they are donating to the museum. In a way, sending money to the address on the back of the coin shows just how transcendent bitcoin can be as a medium of exchange– after all, the value cannot be contained within the walls of a museum if you just turned the coin around! It’s a disservice to the public to not show the back of the coin. Would you drain the Trevi Fountain to discourage a happy couple from wasting their money on a wish?

        Liked by 1 person

  2. Reblogged this on CUA CHIM and commented:
    A really fascinating concept from a curatorial perspective: neo/crypto-numismatics and how to curate objects that are, by their very definition, intangible. As we move ever forward towards an increasingly digital landscape, how do we develop curatorial methodology and foundations for something with no true instantiation?

    Like

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 16,342 other followers

Categories

Follow @britishmuseum on Twitter

British Museum on Instagram

Our #AfricanRockArt project team is cataloguing and uploading around 25,000 digital images of rock art from throughout the continent. Working with digital photographs has allowed the Museum to use new technologies to study, preserve, and enhance the rock art, while leaving it in situ.

As part of the cataloguing process, the project team document each photograph, identifying what is depicted. Sometimes images are faded or unclear. Using photo manipulation software, images can be run through a process that enhances the pigments. By focusing on different sets of colours, we can now see the layers that were previously hidden to the naked eye.

This painted panel, from Kondoa District in #Tanzania, shows the white outline of an elephant’s head at the right, along with some figures in red that it is possible to highlight with digital enhancement.

Tanzania contains some of the densest concentrations of rock art in East Africa, mainly paintings found in the Kondoa area and adjoining Lake Eyasi basin. The oldest of these paintings are attributed to hunter-gatherers and may be 10,000 years old.

Follow the link in our bio to learn more about the project and see stunning #rockart from Africa. This week we’re highlighting the work of our #AfricanRockArt image project. The project team are now in the third year of cataloguing, and have uploaded around 19,000 digital photographs of rock art from all over #Africa to the Museum’s collection online database.

This photograph shows an engraving of a large, almost life-sized elephant, found on the Messak Plateau in #Libya. This region is home to tens of thousands of depictions, and is best known for larger-than-life-size engravings of animals such as elephants, rhino and a now extinct species of buffalo. This work of rock art most likely comes from the Early Hunter Period and could be up to 12,000 years old.

Follow the link in our bio and explore 30,000 years of stunning rock art from Africa. © TARA/David Coulson. Watch the incredible discovery of this colossal statue, submerged under the sea of thousands of years. This colossal 5.4-metre statue of Hapy was discovered underwater in what was the thriving and cosmopolitan seaport of Thonis-Heracleion. It once stood in front of a temple and would have been an impressive sight for traders and visitors arriving from the Mediterranean.

Come face to face with the ancient Egyptian god Hapy for yourself in our‪ #SunkenCities exhibition, until 27 November 2016.

Colossal statue of Hapy. Thonis-Heracleion, Egypt. About 380-250 BC. Maritime Museum, Alexandria. © Franck Goddio/Hilti Foundation. The discovery of this stela, which once stood at the entrance of the main entry port into ancient Egypt, was an extraordinary moment. Its inscription detailing taxes helped solve a 2,000-year-old mystery!

This magnificent monument was crucial to revealing that Thonis (in Egyptian) and Heracleion (in Greek) were in fact the same city. The decree was issued by the pharaoh Nectanebo I, regarding the taxation of goods passing through the cities of Thonis and Naukratis, and it originally stood in the Temple of Amun-Gereb. The inscription states that this slab stood at the mouth of the ‘Sea of the Greeks’ (the Mediterranean) in Thonis.

A bilingual decree found in 1881 refers in its Greek inscription to ‘the Temple of Heracleion’ and in hieroglyphs to ‘the Temple of Amun-Gereb’. Together these objects revealed that Thonis and Heracleion were the same place.

Learn more about the deep connections between the great ancient civilisations of Egypt and Greece in our #SunkenCities exhibition.
Stela commissioned by Nectanebo I (r. 380–362 BC), Thonis-Heracleion, Egypt, 380 BC. © Franck Goddio/Hilti Foundation. For centuries nobody suspected that the #SunkenCities of Thonis-Heracleion and Canopus lay beneath the sea. Recorded in ancient writings and Greek mythology, the ancient Egyptian cities were believed to be lost.

Over the last 20 years, world-renowned archaeologist Franck Goddio and his team have excavated spectacular underwater discoveries using the latest technologies. The amazing rediscovery of these lost cities is transforming our understanding of the deep connections between the great ancient civilisations of Egypt and Greece.

See more magical moments of discovery in our #SunkenCities exhibition, until 27 November 2016. © Franck Goddio/Hilti Foundation.

#archaeology #diving #ancientEgypt This week we’re highlighting some of the incredible clocks and watches on display in the Museum. Mechanical clocks first appeared in Europe at some time between 1200 and 1300. Their introduction coincided with a growing need to regulate the times of Christian prayer in the monasteries. Telling the time with a sundial was especially difficult in western Europe with its unreliable weather. From the end of the 13th century, clocks were being installed in cathedrals, abbeys and churches all around Europe.

The design of turret clocks (public clocks) changed little over the following three centuries and this particular example, made around 1600, has similar characteristics to clocks made for churches in the medieval period. The maker of this clock was Leonard Tenant, one of the most prolific makers of church clocks in the first half of the 17th century. The clock was installed in Cassiobury Park, a country house near Watford.

See this incredible clock in Rooms 38-39 
#clocks #watches #horology
Follow

Get every new post delivered to your Inbox.

Join 16,342 other followers

%d bloggers like this: