Society

Friday

Jamie Bartlett

Bitcoin’s rocketing value is undermining its original purpose

Everyone interested in technology has their own bitcoin story. As is the way with these things, the earlier you were on the scene the better. I cashed out back in 2012 when a bitcoin was worth just £7, says one. Well, I bought a pizza in 2014 with bitcoin which, at today’s rate, cost me almost ten grand, replies another. And so on. These stories are usually told with a hint of pride. The more you lost the better in fact, since it signifies that you were in the know before everyone else, long before it was cool. I have my own story too of course, involving dark net drugs markets back in 2013,

Martin Vander Weyer Martin Vander Weyer

Cash in your bitcoins and run

This is an excerpt from Martin Vander Weyer’s ‘Any Other Business’ column. I don’t know which is more worrying: that the bitcoin market becomes madder by the day, or that it becomes more mainstream. The market price of a unit of the cryptocurrency has spiked above $11,800, up from $750 a year ago, for no reason other than speculative fever. The total value of bitcoins in existence (if that’s the right word) has surpassed the GDP of New Zealand. The first bitcoin billionaires have been announced as Tyler and Cameron Winklevoss, the American twins who were in at the birth of Facebook. The Chicago Mercantile Exchange is about to launch

Thursday

The Spectator

Letters | 7 December 2017

The Carlile report Sir: The Bishop of Bath and Wells tells us (Letters, 2 December) that nobody is holding up publication of the Carlile report into the Church of England’s hole-in-corner kangaroo condemnation of the late George Bell. Is it then just accidental that the church is still making excuses for not publishing it, and presumably for fiddling about with it, more than eight weeks after receiving it on 7 October? The church was swift to condemn George Bell on paltry evidence. It was swifter still to denounce those who stood up for him, falsely accusing them of attacking Bell’s accuser. Yet it is miserably slow to accept just criticism

Taki

High life | 7 December 2017

As the song almost says, what a difference a year makes: 2017 is not over yet, but it’s been a lousy one so far. Losing two very close friends was a real bummer, for starters. Then the Brexit negotiations and the Trump presidency revealed that I had declared victory too soon. This time last year I was singing about what a great year it had been, what a great mood I was in, and so on. The British people had decided that they no longer wished to be led by and take orders from a peanut vendor from Luxembourg called Jean-Claude Asshole. Yippee! One year on, the asshole, in cahoots

Jeremy Clarke

Low life | 7 December 2017

I took a dab of antiseptic gel and rubbed my hands together. ‘Alone tonight, sir?’ said the charming head waiter. I was, I said. For the sake of conviviality, he seated me opposite the only other lone diner in the ship’s restaurant, a chap in his mid-sixties with his head in a book. This bookish loner had a jutting Mr Punch chin and an old-fashioned lothario’s pencil moustache. A few hours earlier, I’d noticed him prowling the deck wearing only a minuscule pair of leopard-skin print bathing drawers and a sea captain’s hat. We shook hands and exchanged Christian names. Gunter hailed from Germany but spoke basic English. I asked

Melissa Kite

Real life | 7 December 2017

While the vet was checking Gracie, I asked him to take a look at Tara, the old chestnut hunter. Just a look, mind you, from a safe distance. I wouldn’t recommend anyone, however qualified, approach the red devil. Aged 32, she is slower than she used to be but still finds ways to express her love of violence. Imagine the dragon from Lord of the Rings coming at you with its neck stretched out, baring teeth, and somehow bending itself round to aim its back end at you at the same time. She has always been like that — coming at you with both ends, they call it — so

Robin Oakley

The turf | 7 December 2017

Spotting Mark Grant’s name on an Ascot racecard, I remembered a dashing young mop-haired rider I first encountered some years back as stable jockey to the splendid Andy Turnell, with whom I once shared a syndicate horse. Since that first meeting, Mark has not become a household name. Last season he had only 82 rides and produced just four winners. Since April 2013, he has won only 13 hurdles and 14 chases from 564 rides. But here was Mark, hairline receding yet enthusiasm undimmed, riding Count Meribel for the all-conquering Nigel Twiston-Davies stable in a novice hurdle. He rode him well, too, getting the four-year-old into a nice rhythm for

Janet de Botton

Bridge | 7 December 2017

The year is drawing to a close and this is my last column before Christmas. May I wish you all a very merry one?   TGR’s autumn Superleague finished last week and was won by my friend Jonathan Harris and his merry men. For once that evil old mantra ‘When a friend succeeds a part of me dies’ did not push itself unbidden into my bitter little brain. ‘Is it the first time you’ve won this?’ I asked him. ‘It’s the first time I have won anything — including a raffle,’ he replied, quick as a bunny. Jonathan is one of those rare birds, a bridge player who loves the

Raymond Keene

Books of the year | 7 December 2017

The English Chess Federation has awarded its Book of the Year prize to Timman’s Titans: My World Chess Champions by Jan Timman (New in Chess). This is a good choice for a present: Timman’s book is aimed at both the expert and the general chess enthusiast, and describes his interactions with many world champions.   A perennial favourite for the committed chess fan is the great series by Garry Kasparov on himself and his predecessors as world champions. This comprises a 12-volume set which analyses his clashes for the title with Anatoly Karpov, Nigel Short and Vladimir Kramnik. This contribution by Kasparov is probably the most significant account ever produced

Raymond Keene

Puzzle | 7 December 2017

White to play. This position is from Timman-Short, Tilburg 1990. Can you spot Timman’s classic finish? We regret that this is not a prize puzzle owing to Christmas deadlines.   Last week’s solution 1 Nxd6 Last week’s winner Ray Fisher, Buxton, Derbyshire

The Spectator

Portrait of the week | 7 December 2017

Home Theresa May, the Prime Minister, was thrown into a political crisis, along with the negotiations for Brexit, during a protracted lunch in Brussels with Jean- Claude Juncker, the President of the European Commission. At first, smiles and Mr Juncker’s special cheerful tie had suggested that Britain had paid enough and said enough to be allowed at an EU summit on 14 December to enter into trade talks. But the Democratic Unionist Party, which lends the Conservatives a parliamentary majority, had got wind of a phrase in a text already agreed between Dublin and the EU proposing ‘continued regulatory alignment’ on both sides of the Irish border. Arlene Foster, the

Max Hastings

Diary – 7 December 2017

Lunch with the great Sir Michael Howard, 95 last week. During a conversation about BBC1’s Howards End, he said: ‘I met Forster once, at a lunch party in London in 1943, given by Arthur Koestler, just before I went to Italy. We spoke much about Richard Hillary, then just beginning to be canonised. Forster suddenly turned to me and asked: “What do you think about sardines?” I was confounded, and have often since wished that I had produced some appropriately witty riposte.’ Michael expresses ironic gratitude for the state of the world, saying that without its horrors, at his age he might be frightfully bored: ‘The distinction between war —

Tanya Gold Tanya Gold

Henrietta without a hairband

Henrietta is a restaurant in a boutique hotel on Henrietta Street, Covent Garden, around the corner from the actors’ church St Paul’s, which is very plain. It is as if, when actors die, their feathers are put away and they die as they really are: plain. As Uncle Monty might say: I choose the Doric. Henrietta Street is full of tall, sad houses — the kind London does so well in fiction and in life. They are grand and desolate; you can imagine misery behind them. This one is red brick and, because it is a boutique hotel, they have tried to build a fairyland behind the façade: wealth and

Dot Wordsworth

Tired Mountain Syndrome

‘You must have Tired Old Woman Syndrome,’ said my husband as I fell back into an armchair with a sigh after a morning clearing out the kitchen cabinets. It had to be done. He of course had just been sitting in the drawing-room waiting for a plausibly respectable hour to have a drink. His abuse was not utterly random, for we had been discussing Tired Mountain Syndrome. It is being blamed for small earthquakes near Mount Mantap in North Korea, where they have been testing nuclear weapons underground. The rocks become many times more permeable along lines of weakness. The name Tired Mountain Syndrome was popularised by a paper in

Mary Killen

Dear Mary | 7 December 2017

Q. My wife and I were having lunch in our local bistro. A boy of about two was wandering around the restaurant and after a while began to scream loudly, with no remonstration by his parents. At this point my wife asked them if they could make the child desist. This brought a diatribe of abuse from the Aussie hipster father. The mother’s response (she was a Mitteleuropean) was that he was only small. Management was reluctant to intervene so what should we have done? — C.H.-T., by email A. The same people who fly off the handle in response to someone trying to ‘boss them about’ will happily obey

Toby Young Toby Young

The subtle art of showing off

This has been an interesting year for me. Back in January, I took up a full-time job as director of New Schools Network, the free schools charity, and it’s the first time I’ve worked in an office since parting company with Vanity Fair 20 years ago. It has taken a bit of getting used to. Until I took this job, I used to work out of a shed at the bottom of my garden. It is not so much a ‘man cave’ as a ‘Toby cave’. The walls are covered with egocentric tat — framed newspaper cartoons, posters of plays I’ve written, pictures of me with famous people, etc. It’s all

Columba

2339: Interesting

Cryptic indications in four clues are incomplete; in each case, the part not indicated is supplied by a 1D (two words). Two unclued lights and the 35 are synonyms of the first word of 1D; each of three unclued lights is defined by the second word of 1D, which is also the surname of a fictional character whose first name is the answer to a clue without a definition.   Across 9    Just disloyal, having time off (10) 14    Run and stop Greek character (3) 16    Take in troublesome situation with navy scattered (6) 17    Complete sphere around family (5) 20    Smirk depressing expert (7)

The Spectator

to 2336: IRRELEVANT

The action that results in 6, 10, 29D and 30 is HAIR-RAISING (7, defined by 5). RAISING A HARE (39) results in 13.   First prize Norma Jacobs, Linton, Wetherby, W. Yorks Runners-up Mrs E. Knights, Wisbech, Cambs; Trevor Evans, Drulingen, France

The Spectator

We need to bridge Britain’s productivity gap

The UK has a big productivity problem. Our slowdown since the financial crisis has been more severe than in other developed nations. We rank third-last among the G7 — ahead of only Canada and Japan — and we’re falling further behind our competitors: France, Germany and the USA. This matters, because increased productivity is the key to improving living standards. Without it, businesses underperform, we fall behind competitors and, ultimately, our ability to increase pay, invest in public services and improve living standards is limited. Government sets the agenda for productivity in areas like skills, infrastructure and research and development. We’ve seen encouraging moves in the Budget and an industrial