The price of Bitcoin is once more soaring. From early October 2020 to early January 2021, the price of a single Bitcoin token went from roughly $10,000 to nearly $65,000, reinspiring the hopes of the crypto-faithful in the inevitability of a future beyond centralized banking and leaving the rest to dread the jargon of computational libertarianism. The speculative betting driving this recent price action, however, belies a more rudimentary and overlooked shift in the digital economy signaled by cryptocurrencies and Bitcoin (...) in particular. Unlike an earlier industrial logic that sought to reduce heat loss and improve efficiency to maximize surplus value, Bitcoin’s proof-of-work system shifts the basis of value production from efficiency to inefficiency. Moreover, it does so by using a cryptographic algorithm whose purpose is to destroy the meaning of its inputs. Through an exploration of Bitcoin’s proof-of-work technics and its inversion of traditional models of value extraction, the text argues that Bitcoin reveals a profound transformation in the nature of surplus represented by computational capitalism. (shrink)

Optical media were instrumental in transforming the conception of facts, objectivity, and the »real.« This paper considers their role in structuring understandings of counterfactuals and states that could not be real. By returning to Ernst Mach’s photographic ballistics experiments, writing on thought experiments (a term he coined), and his dispute with Max Planck about the nature of the Weltbild, the article shows that, despite his legacy as a positivist, Mach’s epistemology of mechanical images opened a legitimate space of indeterminacy, contingency, (...) and counterfactuality. (shrink)

Recovering largely forgotten and untranslated texts, Endless Intervals makes the case that cinema, rather than being a technology assaulting the psyche, is in fact the technology that produced the modern psyche. It considers the ways machines can create meaning, offering a fascinating theory of how the discontinuous intervals of soulless mechanisms ultimately produced a rich continuous experience of inner life.

Optical media were instrumental in transforming the conception of facts, objectivity, and the »real.« This paper considers their role in structuring understandings of counterfactuals and states that could not be real. By returning to Ernst Mach’s photographic ballistics experiments, writing on thought experiments (a term he coined), and his dispute with Max Planck about the nature of the Weltbild, the article shows that, despite his legacy as a positivist, Mach’s epistemology of mechanical images opened a legitimate space of indeterminacy, contingency, (...) and counterfactuality. (shrink)