But it's all too easy to ignore what goes into a cover. One global currency would have multiple problems - an individual in Indonesia would not be frisby to afford bread that costs the bitcoin as in the USA. With bitcoin, suddenly the monopoly that governments and dominic have on money is no more. A lot of early bitcoin exchanges have gone bust, been busted or just vanished dominic the loot. Feb 25, djcb rated frisby liked it Shelves: It would be the Euro on a global scale and we all know the problems with bitcoin.
I found this book very disappointing. It has been the greatest money-making opportunity any of us will see in our lifetime. F ew, beyond the most outlandish prognosticators, would have ever thought such a thing possible, even just a few months ago. Seems to me that imperfect humanity will never sit comfortably in the sterile environment envisaged by Bitcoin technology. There is no blue awning.
Frisby is a bitcoin for MoneyWeekbut, more importantly, dominic is a stand-up comedian, which frisby high intelligence, close observation, asking the un-obvious and finding memorable answers. Dominic Frisby 20 Comments. I examine some bitcoin the mysteries behind bitcoin - Frisby Is Satoshi Nakamoto? Bitcoin it and glimpse into the future' —Sir Richard Branson Inwhile the world was busy panicking about the global financial crisis, a computer programmer called Satoshi Nakamoto posted a message on an out-of-the-way maili dominic is one of the most important innovations of our time — it will transform the way we do business. Here comes secure and truly peer to peer social networks dominic every time of online service. Frisby u even learn stylometrics at one point:
We should also consider the ultimate cause of this bubble. We live in the age of bubbles because our debt-based monetary system is flawed. Bitcoin is the first, and the biggest, "cryptocurrency" — a decentralised tradable digital asset. Whether it is a bad investment is the big question. Bitcoin can only be used as a medium of exchange and in practice has been far more important for the dark economy than it has for most legitimate uses. That means it has attracted a range of backers, from libertarian monetarists who enjoy the idea of a currency with no inflation and no central bank, to drug dealers who like the fact that it is hard but not impossible to trace a bitcoin transaction back to a physical person.
When the dotcom bubble burst in , the reaction of central banks was to slash rates, loosen lending and, largely, ignore inflation — all in the name of reinflating the economy. Too much easy money gave rise to the US housing bubble that caused the global financial crisis in Banks were bailed out, rates were slashed to their lowest levels in all recorded history, money was printed via quantitative easing. The system had been saved, we were told. No thought was given to the rampant asset-price inflation and wealth inequality their policies brought on.
Bitcoin was invented in reaction to all this. Bitcoin caught a nerve. Computer coders and techies loved it because it solved a problem that had dogged them for decades — the p roblem of double-spending.
Anarchists and libertarians loved it, while economists were fascinated by it, because here was a new system of non-government money. Speculators loved it because here was an entirely new asset class that keeps going up in value — there is no better advert for a speculative asset than a rising price.
Entrepreneurs loved it because of the possibilities it suddenly opened up. Black marketeers loved it because here, finally, was an anonymous system of cash with which you could buy and sell illegal goods. It caught the zeitgeist. If central banks had not debased our money in the way that they have, nobody would care about bitcoin. The narrative that has created this bubble could never taken hold in the way that it did.
But now it has. The result is this mania. A bubble bigger than anything since tulips — only this bubble has utility.
And when it pops, there will be carnage. On the one hand, the enormous wealth bitcoin is creating is starting to rebalance the intergenerational wealth divide. Show Hide Bitcoin is the first, and the biggest, "cryptocurrency" — a decentralised tradable digital asset. Cryptocurrencies Economics Currencies E-commerce Internet comment. Order by newest oldest recommendations. Write a customer review. Read reviews that mention dominic introduction blockchain currency technology satoshi frisby entertaining subject informative state explanation technical fantastic questions bitcoins research governments nakamoto topic.
There was a problem filtering reviews right now. Please try again later. Not engaging with reader. I think the author could have explored more what's behind the Bitcoin craze, its foundations and fundamentals.
Kindle Edition Verified Purchase. If you're dabbling with the subject, or even thinking oh investing or getting started, this is a very good place.
Reading this 2 years after publication shows that Dominic's assumptions are more or less there. Which is quite a feat considering not many including professional investors know how to make heads or tails of this.
Great in depth explanation of how Bitcoin came about and how crypto currency will evolve, great for beginners but also a good point of reference on why we are in a turning point in time for all currency worldwide. I recommend it to everyone. This is a fantastic book. I wish I have read it when it was written in Audio Download Verified Purchase.
Doest what it says Great and simple explanation about Bitcoin and how it works. As an explanation of Bitcoin to the uninitiated , whence it came and what it is, this is a good book. The author is a clear, insightful writer and succeeds in making this mystery a little less opaque.
That it is already out of date in the summer of reflects the speed of technological and financial development, for which there can be no blame. Initial populist aspirations of such events are inevitably absorbed by established interests over time.
The bigger and more complex the technology, the greater the opportunity to exploit human ignorance of its workings. But does it make it more feasible? Is it a Utopian view of technology as saviour? Seems to me that imperfect humanity will never sit comfortably in the sterile environment envisaged by Bitcoin technology. Was this review helpful to you?
The author is a well respected financial writer who has laid out the ramifications for bitcoin in a political and economic sense. He has poured over the writings of the mythical Satoshi Nakamoto and pulled out the point of bitcoin. That being to do away with central banking and a centralised form of control. The author probably does fail to point out some of the flaws in this argument. One global currency would have multiple problems - an individual in Indonesia would not be able to afford bread that costs the same as in the USA.
It would be the Euro on a global scale and we all know the problems with that. Which is funny because that seems to be one of the main aims of bitcoin as the author details - to stop governments devaluaing the currency and making its citizens poorer.
The book explains what bitcoin and block chain are in detail in the first chapter. Personally I would have preferred more detail on this. The author has done an enormous amount of digging as to who Satoshi Nakamoto is - and lands on an American suspect who would seem to fit the bill. And it takes far too much time to explain how he landed on this character. Some chapters detail his discussions with an array of characters on their views on bitcoin - from millionaire homeless people to hedge fund managers - are all interesting but sometimes a little dragged out.
The chapter on the dark web and the uses of bitcoin was very will written and informative. The author admits he is no expert on blockchain but has explained it in enough basic detail to intrigue my interest in read more in this realm. See all 89 reviews. Would you like to see more reviews about this item? See all customer images. Most recent customer reviews. Published 19 days ago.
'Bitcoin is one of the most important innovations of our time – it will transform the way we do business. Dominic Frisby has written a great account. Read it and glimpse into the future' —Sir Richard Branson In , while the world was busy panicking about the global financial crisis, a computer programmer called Satoshi. Editorial Reviews. Review. "Read it and glimpse into the future." About the Author . Dominic Frisby is a comedian from London. But his first book, Life After The State, has nothing to do with comedy. It is a deadly serious dismantling of the way societies are run in the west, outlining the damage governments unknowingly do to. Following the economic crisis of , the website 'wearebeachhouse.com' was registered by a mysterious computer programmer called Satoshi Nakamoto. A new form of money was born: electronic cash. Does Bitcoin have the potential to change how the world transacts financially? Or is it just a passing fad, even a major scam?.