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

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We love this brilliant sketch of the Great Court by @simoneridyard! It captures the subtle blues and greys of the inside of the space. The Museum has always played host to artists throughout its history, and we still see people sketching their favourite objects or views inside the Museum (although most people take a photo with their phones now!). Have you made drawings while visiting any museums or galleries? We’d love to see any art made in the Museum – tag your photos with the location and we’ll regram our favourites! #BritishMuseum #London #regram #repost #museum #art #sketch #sketchingfromlife The Lion of Knidos looks very regal in this super photo by @nin_uiu. The Lion is named after the place where it used to stand, an ancient Greek city in modern-day Turkey. A colossal statue weighing six tons, it was part of a funerary monument that stood on a headland above a cliff. The lion’s eyes were probably inlaid with glass, and this may have aided sailors navigating the rugged coastline – they could use the reflection of the eyes to determine where the coast was. The sculpture is made from one piece of marble, but it’s not known exactly when it was made and estimates range from 394 BC to 175 BC. #BritishMuseum #history #AncientGreece #AncientGreek #lion #sculpture #statue #London There have been some beautiful sunsets in London recently – we love the way @wiserain23 has captured the streaks in the sky over the Museum in this shot. The orange and peach colours in the sky have been spectacular during this spell of cold, crisp but sunny weather. You can see the Museum lit up like this if you visit during our Friday late opening – you can browse the galleries until 20.30. Remember to share your photos with us by using the British Museum location tag – we love seeing our visitors’ photos, so get snapping! #BritishMuseum #London #sunset #sky #lights #evening #regram #repost Don’t forget to look up! ☝🏼 The triangular feature above the columns of the Museum’s main entrance is called a pediment. Originally it had a bright blue background and the statues were all painted white. 
The sculptures in the pediment show the development of ‘mankind’ in eight stages – a very old-fashioned idea now, but it was designed and built in the 1850s. The left side shows the creation of man as he emerges from a rock as an ignorant being. He meets the next character, the Angel of Enlightenment who is holding the Lamp of Knowledge. From the lamp, man learns basic skills such as cultivating land and taming animals.

The next step in the progress of civilisation is for man to expand his knowledge and understanding. The following eight figures represent the subjects he must learn to do this – architecture and sculpture, painting and science, geometry and drama, and music and poetry. The final human figure, on the right, represents ‘educated man’. Learn more about the Museum’s architecture and its fascinating history in our new blog – follow the link in our bio! We’d love to hear what you think. 258 years ago we opened our doors to the public for the first time! The British Museum is the world’s oldest national public museum, founded in 1753. It was created to be free to all ‘studious and curious persons’ and it’s still free today, but a few things have changed…

Did you know that the @natural_history_museum used to be part of the British Museum? The Museum’s founder Sir Hans Sloane had collected a vast number of natural history specimens, and these were part of the Museum’s collection for over a hundred years. In the 1880s, with space in Bloomsbury at a premium, it was agreed that these collections should move to a new site in South Kensington.

This photograph by Frederick York shows a mastodon skeleton on display here in Bloomsbury, before it moved to South Kensington in the 1880s.

Explore more of the Museum’s history on our new blog – follow the link in our bio and let us know what you think! The British Museum opened to the public #onthisday in 1759, the first national public museum in the world! 🎉

The Museum was founded on the death of Sir Hans Sloane, who bequeathed his collection of 71,000 objects to the nation. The British Museum Act gained royal assent in June 1753 (which makes us older than the USA!). The original collection featured 1,125 ‘things relating to the customs of ancient times’, 5,447 insects, a herbarium (a collection of dried plants), 23,000 coins and medals and 50,000 books, prints and manuscripts.

This photograph of the front of the Museum was taken in 1857 by Roger Fenton, the Museum’s first official photographer.

To mark this anniversary, the Museum is launching a blog where you can find all kinds of interesting articles – things you didn’t know about the Museum, curators’ insights, behind-the-scenes stories and more. Follow the link in our bio – we’d love to know what you think!
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