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The Little Bitcoin Book: Why Bitcoin Matters for Your Freedom, Finances, and Future
You’ve probably heard about Bitcoin on the news or heard it being discussed by your friends or colleagues. How come the price keeps changing? Is Bitcoin a good investment? How does it even have value? Why do people keep talking about it like it’s going to change the world?
The Little Bitcoin Book tells the story of what’s wrong with money today, and why Bitcoin was invented to provide an alternative to the current system. It describes in simple terms what Bitcoin is, how it works, why it’s valuable, and how it affects individual freedom and opportunities of people everywhere - from Nigeria to the Philippines to Venezuela to the United States. This book also includes a Q & A section with some of the most frequently asked questions about Bitcoin.
If you want to learn more about this new form of money which continues to gain interest and adoption around the world, then this book is for you.
The Little Bitcoin Book tells the story of what’s wrong with money today, and why Bitcoin was invented to provide an alternative to the current system. It describes in simple terms what Bitcoin is, how it works, why it’s valuable, and how it affects individual freedom and opportunities of people everywhere - from Nigeria to the Philippines to Venezuela to the United States. This book also includes a Q & A section with some of the most frequently asked questions about Bitcoin.
If you want to learn more about this new form of money which continues to gain interest and adoption around the world, then this book is for you.
117 pages, Kindle Edition
First published August 1, 2019
174 people are currently reading
884 people want to read
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Displaying 1 - 30 of 71 reviews
August 27, 2019
Seeing as I'm one of the authors, I think I'm allowed to write a biased, 5-star review.
It was a real honor being able to work on this book with my co-authors and I couldn't be happier with the final outcome. We tried really hard to make the material approachable without necessarily talking down to our readers, who we visualized as "everyone who hasn't tried this stuff yet." Our hope is that this becomes one of the go-to guides that gets passed along whenever someone is curious, but doesn't know where to begin.
I feel like we've done our jobs well if I find a battered, well-read copy of this book in a bus terminal diner, an airport coffee shop, or maybe even the waiting area at a major commercial bank!
It was a real honor being able to work on this book with my co-authors and I couldn't be happier with the final outcome. We tried really hard to make the material approachable without necessarily talking down to our readers, who we visualized as "everyone who hasn't tried this stuff yet." Our hope is that this becomes one of the go-to guides that gets passed along whenever someone is curious, but doesn't know where to begin.
I feel like we've done our jobs well if I find a battered, well-read copy of this book in a bus terminal diner, an airport coffee shop, or maybe even the waiting area at a major commercial bank!
September 24, 2019
The Little Bitcoin Book is intended as a non-technical person’s first introduction to Bitcoin. As far as an outline of Bitcoin itself goes, it provides the barest of bones supplemented by a few assurances about the protocol’s security. Most of the discussion centers around how Bitcoin constitutes an improvement on previous forms of money and what problems Bitcoin attempts to address—namely, centralization, inflation (monetary policy opacity more generally), confiscation risk, surveillance, corruption, and barriers to access to financial services.
It’s almost certainly a success on what it sets out to accomplish. For the non-technical and non-converted it mercifully spares any of the internal struggles within the community, and it introduces Bitcoin as a boon to freedom and human rights with zero detours into the Austro-Libertarian deliberations that preoccupy many insiders. I’m guessing the book will be appreciated by curious outsiders, but I’m interested to see how that actually plays out in practice—the few reviews already posted here seem to be from insiders who plan on handing this out to people they know and not by those people who’ve been handed the book.
The book is less likely to satisfy those who are at all technically minded and probably won’t pass muster with those who approach Bitcoin from the outside with any degree of skepticism—although a list of resources at the end for branching out is included at the end.
For those unsatisfied with the limited technical scope of this book, here are a few heavier options to consider:
• Grokking Bitcoin by Kalle Rosenbaum: This is about as technical an intro one could hope for that doesn’t include samples of code.
• Mastering Bitcoin by Andreas Antonopoulos: Is technically on a par with Grokking Bitcoin, maybe just slightly more technical, but it does include samples of code which those who can parse can enjoy and which can be skipped over by those who can’t.
• Programming Bitcoin by Jimmy Song (one of The Little Bitcoin Book’s authors): I haven’t read it but my understanding is that it’s more for developers and coders than even Mastering Bitcoin.
• The Bitcoin Standard by Saifedean Ammous (with forward by Nassim Taleb): Relatively light on the Bitcoin technicals (partly because it assumes you’ve acquired them elsewhere and partly because they’re not required), this book is for those interested in the economics of Bitcoin and how it fits into the history of money as a technology. Likely to be intriguing even to those who disagree with the book’s specific monetary vision of Bitcoin’s future. (Extensive review here.)
As a final word, the book shouldn’t be characterized as an intro-level book written for actual dummies. It’s true that it’s about the slimmest intro someone might reasonably expect, but I’m not aware of another Bitcoin book at this point that really lays out the human rights case in the way this group of authors have. And on this front, the reader who wants to branch out from The Little Bitcoin Book will be driven into a wider discussion for which there’s no specific reading list and of which Bitcoin is only a part.
It’s almost certainly a success on what it sets out to accomplish. For the non-technical and non-converted it mercifully spares any of the internal struggles within the community, and it introduces Bitcoin as a boon to freedom and human rights with zero detours into the Austro-Libertarian deliberations that preoccupy many insiders. I’m guessing the book will be appreciated by curious outsiders, but I’m interested to see how that actually plays out in practice—the few reviews already posted here seem to be from insiders who plan on handing this out to people they know and not by those people who’ve been handed the book.
The book is less likely to satisfy those who are at all technically minded and probably won’t pass muster with those who approach Bitcoin from the outside with any degree of skepticism—although a list of resources at the end for branching out is included at the end.
For those unsatisfied with the limited technical scope of this book, here are a few heavier options to consider:
• Grokking Bitcoin by Kalle Rosenbaum: This is about as technical an intro one could hope for that doesn’t include samples of code.
• Mastering Bitcoin by Andreas Antonopoulos: Is technically on a par with Grokking Bitcoin, maybe just slightly more technical, but it does include samples of code which those who can parse can enjoy and which can be skipped over by those who can’t.
• Programming Bitcoin by Jimmy Song (one of The Little Bitcoin Book’s authors): I haven’t read it but my understanding is that it’s more for developers and coders than even Mastering Bitcoin.
• The Bitcoin Standard by Saifedean Ammous (with forward by Nassim Taleb): Relatively light on the Bitcoin technicals (partly because it assumes you’ve acquired them elsewhere and partly because they’re not required), this book is for those interested in the economics of Bitcoin and how it fits into the history of money as a technology. Likely to be intriguing even to those who disagree with the book’s specific monetary vision of Bitcoin’s future. (Extensive review here.)
As a final word, the book shouldn’t be characterized as an intro-level book written for actual dummies. It’s true that it’s about the slimmest intro someone might reasonably expect, but I’m not aware of another Bitcoin book at this point that really lays out the human rights case in the way this group of authors have. And on this front, the reader who wants to branch out from The Little Bitcoin Book will be driven into a wider discussion for which there’s no specific reading list and of which Bitcoin is only a part.
August 26, 2019
I gave this book to my mom, and she loved it. Finally an easy read for a non-technical person to understand how bitcoin fits into the greater global social-economic picture. Fantastic for anyone who has questions about Bitcoin but doesn't have a lot of time to do reading. Recommended as a breakfast time book to enjoy with your coffee.
August 24, 2021
the future..
February 2, 2020
This book promises to explain "what is wrong with money today" and to describe "in simple terms what Bitcoin is, how it works, why it's valuable".
I'm happy to say that the book fully delivers on this promise. If you have some friend or relative who expressed interest in Bitcoin and you want to gently nudge them into the right direction, this book is a great (and inexpensive) gift or recommendation.
There is zero knowledge needed in terms of programming, math, economy or history. Every chapter in this book is toned down so that any person with basic knowledge of the English language can understand it. For example: the chapter where Bitcoin's proof-of-work mechanism is described doesn't even use the word "hash" - in fact, that word does not appear in the entire book. Instead, it uses "solving a difficult math problem that requires to spend a lot of energy" as a good enough metaphor.
I couldn't find any claims in this book that were obviously wrong, so I would give this the seal of factual correctnes. BUT this book DOES NOT list any of it's sources. I find that rather shocking. There are a lot of really interesting statistics mentioned, but never will you find a link to where they got those numbers from. Example: "According to consumer price indices, from 2018 to 2019 prices rose 1.7% in Germany and 1.9% in the United States. In many countries, consumer goods prices rose much more: 3.75% in Brazil, 5% in India, 11% in Nigeria, 20% in Turkey, and a whopping 47% in Argentina.". I would have loved to be able to click at a link and see the data myself. This is a gross oversight and the main reason why I reduced my rating to four stars. Of course, the target audience of this book would likely not bother to follow any links, so you could say this is a minor nit-pick.
One thing I found really refreshing and surprising in this book is the very strong focus on Bitcoin has a humanitarian technology. To me, this is what elevates this book from three stars to four stars:
There could have been so many emotionally charged and negative leitmotivs, like "fuck the government", "destoy the banks", "liberatrainism", "anarcho capitalism", "Keynesians bad, Austrian economics good", "biggest wealth redistribution of our time", "all shitcoins are scams" -- but this book has none of this.
Instead, almost every chapter points out big problems with our current central banking system in a very sober way, without really blaming anyone and then shows how Bitcoin, when it reaches its full potential in the future, could solve those problems. The problems are all tangible and relateable and they are problems that affect billions of people on earth today. I like that. There is so much tribalism and hatred going on when you read about Cryptocurrencies on social media, it can (and will) poison your mind with negativity.
This book ignores all that noise and instead points towards reasons for hope, towards potentially huge positive impact.
I would recommend this book to anyone who has zero knowledge about Bitcoin and wants to have a quick read to get up to speed. This book will leave you with many more questions, but as a starting point, it will give you a good vocabulary which will then enable you to do further research on your own.
4 stars means: Surpassed my expectations.
I'm happy to say that the book fully delivers on this promise. If you have some friend or relative who expressed interest in Bitcoin and you want to gently nudge them into the right direction, this book is a great (and inexpensive) gift or recommendation.
There is zero knowledge needed in terms of programming, math, economy or history. Every chapter in this book is toned down so that any person with basic knowledge of the English language can understand it. For example: the chapter where Bitcoin's proof-of-work mechanism is described doesn't even use the word "hash" - in fact, that word does not appear in the entire book. Instead, it uses "solving a difficult math problem that requires to spend a lot of energy" as a good enough metaphor.
I couldn't find any claims in this book that were obviously wrong, so I would give this the seal of factual correctnes. BUT this book DOES NOT list any of it's sources. I find that rather shocking. There are a lot of really interesting statistics mentioned, but never will you find a link to where they got those numbers from. Example: "According to consumer price indices, from 2018 to 2019 prices rose 1.7% in Germany and 1.9% in the United States. In many countries, consumer goods prices rose much more: 3.75% in Brazil, 5% in India, 11% in Nigeria, 20% in Turkey, and a whopping 47% in Argentina.". I would have loved to be able to click at a link and see the data myself. This is a gross oversight and the main reason why I reduced my rating to four stars. Of course, the target audience of this book would likely not bother to follow any links, so you could say this is a minor nit-pick.
One thing I found really refreshing and surprising in this book is the very strong focus on Bitcoin has a humanitarian technology. To me, this is what elevates this book from three stars to four stars:
There could have been so many emotionally charged and negative leitmotivs, like "fuck the government", "destoy the banks", "liberatrainism", "anarcho capitalism", "Keynesians bad, Austrian economics good", "biggest wealth redistribution of our time", "all shitcoins are scams" -- but this book has none of this.
Instead, almost every chapter points out big problems with our current central banking system in a very sober way, without really blaming anyone and then shows how Bitcoin, when it reaches its full potential in the future, could solve those problems. The problems are all tangible and relateable and they are problems that affect billions of people on earth today. I like that. There is so much tribalism and hatred going on when you read about Cryptocurrencies on social media, it can (and will) poison your mind with negativity.
This book ignores all that noise and instead points towards reasons for hope, towards potentially huge positive impact.
I would recommend this book to anyone who has zero knowledge about Bitcoin and wants to have a quick read to get up to speed. This book will leave you with many more questions, but as a starting point, it will give you a good vocabulary which will then enable you to do further research on your own.
4 stars means: Surpassed my expectations.
April 7, 2021
An elevator pitch of Bitcoin for the fully unaware. As all pitches go, it concisely describes about the potential value of Bitcoin while barely delving into the nuances.
October 28, 2022
"În acelaşi timp, Partidul Comunist Chinez are control
asupra unor sisteme informatice folosite de mai mult de
un miliard de oameni, precum Alipay şi WeChat. Au-
toritățile nu doar că urmăresc şi controlează banii ce-
tățenilor, ci le şi reglementează acțiunile și opiniile prin
sisteme de credit social. Într-un sistem de credit social
precum cel folosit în China, fiecare om primește sau
pierde puncte în funcție de felul în care îşi cheltuie banii,
de opiniile politice pe care le exprimă şi de cercul social
din care face parte. Guvernul recompensează compor-
tamentele asociate cetățeanului loial şi îi pedepseşte
pe cei turbulenți restricționându-le călătoriile în afara
ţării, accesul la Internet de mare viteză, trimiterea co-
piilor la şcoală sau accesul la dobânzi avantajoase pen-
tru împrumuturi. Aceste sisteme de credit social se află
abia la început, dar sunt pe cale să îi ofere guvernului
chinez control fără precedent asupra vieților cetățenilor,
marcând astfel cel mai elaborat proiect de inginerie so-
cială din istoria omenirii.
Tendinţe asemănătoare, dar mai puțin supărătoare,
încep să apară chiar şi în democrațiile occidentale, unde
companiile care furnizează servicii de plată electronică
prin card, dar şi comercianții implicaţi în tranzacții fac
profituri din vânzarea către agențiile de publicitate a
datelor privind tranzacțiile clienților."
Cred că ar fi util să ne uităm măcar peste aceste tehnologii de gestionare a finanțelor ca să nu ajungem nici măcar aproape de situația descrisă mai sus.
Frumos conținutul cărții, însă cel mai mult îmi place că au o listă la finanul cărții cu diferite cărți sau podcasturi de unde poți să înveți mai multe despre subiect.
March 20, 2021
This is just what I needed to make some sense of Bitcoin. I highly recommend this short read (99 pages) for anyone who's wondered what the heck it's all about. I found that between the main chapters and the Q & A at the end, many of my questions were answered. I'm still no expert, but at least now hopefully I can follow its development having a bit of background information.
July 20, 2020
This book delivers what its title suggests: a quick but thoughtful introduction to Bitcoin -- beyond the pyrotechnics of its price fluctuations to the underlying idea of digital currency, and a calm consideration of currencies that fluctuate, evolve and disappear -- that is, all other currencies we've ever known. I read the Kindle edition.
November 13, 2021
Muy buena introducción a bitcoin y a la economía actual. No es un libro técnico, es fácil de leer y entender.
Aún si no estás interasdo en bitcoin deberías de leer este libro para saber de algunos problemas que enfrenta la economía actual.
Aún si no estás interasdo en bitcoin deberías de leer este libro para saber de algunos problemas que enfrenta la economía actual.
August 19, 2024
This was the first book I’ve read on Bitcoin, and I found it to be excellent! The chapters flow seamlessly, with concise explanations that are easy to follow. The book focuses more on the ‘why,’ helping me grasp why this technology is so crucial, especially for people living under authoritarian regimes. It does a great job highlighting the importance of Bitcoin in providing financial freedom and protection in such environments.
October 7, 2024
This one tries hard to convince that Bitcoin is the answer to all the global issues without providing a compelling argument.
August 27, 2019
The title says it, the little book, just a 100 pages with another 15 of appendices. The subtitle further defines what it's about and the book does deliver on the promise. Starts with defining money and it's problems. It defines and describes bitcoin at a high level. And it makes the argument on why bitcoin is important to all our futures. I really enjoyed the book as it was easy to read and was devoid of any fluff. I think its an important book and I'm sending my copy to my nephew. I'm hoping FOMO, which is defined in the book, will get him motivated to educate himself about bitcoin.
August 23, 2019
A good read, learned a lot.
I was suprised to find out things that I did not know. I guess I am not Mr. Know-it-all, like I assumed. There were a few things I disagreed with, however, I could see why in the effort to make the book understandable to no-coiners that they did not include some of the more controversal facts about crypto other than Bitcoin. I appreciate the work these people put into make this book and am glad I bought it.
I was suprised to find out things that I did not know. I guess I am not Mr. Know-it-all, like I assumed. There were a few things I disagreed with, however, I could see why in the effort to make the book understandable to no-coiners that they did not include some of the more controversal facts about crypto other than Bitcoin. I appreciate the work these people put into make this book and am glad I bought it.
September 27, 2019
An excellent introduction to blockchain and bitcoin. The book does a great job at presenting a lot of the complected concepts (economic and technical) in a very easy to digest fashion. This will be my go to recommendation for anyone who wants to get into the world of bitcoin and cryptocurrency.
September 6, 2019
Super easy and straight forward. It gives you exactly that first approach you need to start your journey and curiosity about Bitcoin!
Recommend it to your friends!
Recommend it to your friends!
November 2, 2023
Mooi beknopt boekje over Bitcoin. Een ideaal startpunt voor mensen die in korte tijd willen weten wat Bitcoin precies is en welke problemen het kan oplossen.
Door veel mensen wordt BTC vooral gezien als investering/speculatie, maar het is veel meer dan dat. Deze briljante uitvinding van Satoshi Nakamoto heeft de potentie om de wereld te veranderen en de grote problemen met het fiat-geldsysteem op te lossen. Denk aan: financiële uitsluiting (2 miljard mensen hebben geen bankrekening), financiële controle en censuur (in autoritaire landen worden bankrekeningen geblokkeerd als je de verkeerde politieke mening hebt of een demonstratie tegen de regering bijwoont), (hyper)inflatie door het onbeperkt kunnen bijdrukken van geld (waardoor mensen al hun spaargeld verliezen en in armoede vervallen), counter party risk (banken die om kunnen vallen door het nemen van onverantwoorde risico’s met het geld van hun klanten), privacyproblemen (CBDC’s, data-lekken), steeds groter wordende ongelijkheid tussen rijk en arm (inflatie bevoordeelt vooral mensen die assets als vastgoed en aandelen kunnen kopen en benadeelt mensen met alleen spaargeld), en zelfs oorlogen (die nodeloos lang duren omdat ze gefinancierd worden door het bijdrukken van geld waarvoor burgers de prijs betalen via inflatie).
Bitcoin kan de oplossing vormen voor deze problemen. In het Westen wordt dit nog niet zo gevoeld, maar veel mensen in landen waar hyperinflatie plaatsvindt (zoals Venezuela en Argentinië) gebruiken het al volop. Net als arbeidsmigranten die met BTC veel goedkoper en sneller geld kunnen sturen naar hun familie. Of mensen die geen bankrekening hebben, maar via Bitcoin wel kunnen deelnemen aan het financiële systeem en eindelijk iets voor zichzelf kunnen opbouwen. Als Bitcoin zijn volledige potentie vervult, zou het ook oorlogen kunnen verminderen, privacy en vrijheid kunnen verhogen, en de macht van autoritaire regimes kunnen inperken.
Wil je precies weten hoe dit allemaal zit, lees dan zeker dit boek. Het is beknopt en niet technisch. Wel is het boek soms wat kort door de bocht en niet goed uitgediept, mede omdat het door een groepje auteurs in een “boek-sprint” van enkele dagen is geschreven. Ook de vertaling in het Nederlands is niet overal geslaagd en zinnen/woorden zijn soms te letterlijk uit het Engels overgenomen. Ondanks deze kleine minpuntjes, is dit een must-read voor iedereen die meer wil weten over deze fascinerende technologie.
Door veel mensen wordt BTC vooral gezien als investering/speculatie, maar het is veel meer dan dat. Deze briljante uitvinding van Satoshi Nakamoto heeft de potentie om de wereld te veranderen en de grote problemen met het fiat-geldsysteem op te lossen. Denk aan: financiële uitsluiting (2 miljard mensen hebben geen bankrekening), financiële controle en censuur (in autoritaire landen worden bankrekeningen geblokkeerd als je de verkeerde politieke mening hebt of een demonstratie tegen de regering bijwoont), (hyper)inflatie door het onbeperkt kunnen bijdrukken van geld (waardoor mensen al hun spaargeld verliezen en in armoede vervallen), counter party risk (banken die om kunnen vallen door het nemen van onverantwoorde risico’s met het geld van hun klanten), privacyproblemen (CBDC’s, data-lekken), steeds groter wordende ongelijkheid tussen rijk en arm (inflatie bevoordeelt vooral mensen die assets als vastgoed en aandelen kunnen kopen en benadeelt mensen met alleen spaargeld), en zelfs oorlogen (die nodeloos lang duren omdat ze gefinancierd worden door het bijdrukken van geld waarvoor burgers de prijs betalen via inflatie).
Bitcoin kan de oplossing vormen voor deze problemen. In het Westen wordt dit nog niet zo gevoeld, maar veel mensen in landen waar hyperinflatie plaatsvindt (zoals Venezuela en Argentinië) gebruiken het al volop. Net als arbeidsmigranten die met BTC veel goedkoper en sneller geld kunnen sturen naar hun familie. Of mensen die geen bankrekening hebben, maar via Bitcoin wel kunnen deelnemen aan het financiële systeem en eindelijk iets voor zichzelf kunnen opbouwen. Als Bitcoin zijn volledige potentie vervult, zou het ook oorlogen kunnen verminderen, privacy en vrijheid kunnen verhogen, en de macht van autoritaire regimes kunnen inperken.
Wil je precies weten hoe dit allemaal zit, lees dan zeker dit boek. Het is beknopt en niet technisch. Wel is het boek soms wat kort door de bocht en niet goed uitgediept, mede omdat het door een groepje auteurs in een “boek-sprint” van enkele dagen is geschreven. Ook de vertaling in het Nederlands is niet overal geslaagd en zinnen/woorden zijn soms te letterlijk uit het Engels overgenomen. Ondanks deze kleine minpuntjes, is dit een must-read voor iedereen die meer wil weten over deze fascinerende technologie.
August 16, 2024
Title: The Little Bitcoin Book: Why Bitcoin Matters for Your Freedom, Finances, and Future
Author: The Bitcoin Collective, Timi Ajiboye, Luis Buenaventura, Lily Liu, Alexander Lloyd, Alejandro Machado, Jimmy Song, Alena Vranova, Alex Gladstein
Publisher: Whispering Candle
Published: 2019
Total pages: 116
ISBN: 9781641990509
Read and reviewed: 2024
"The Little Bitcoin Book" is an exploration of the philosophy behind the Bitcoin, emphasizing its potential benefits for individuals worldwide as digital money becomes more prevalent. The book does not delve deeply into technical details or analyze Bitcoin's market performance. Instead, it focuses on how Bitcoin can empower global citizens by offering a decentralized, secure, and accessible alternative to traditional financial systems. With the world increasingly moving towards digital currency, the book argues that Bitcoin offers a unique opportunity to protect personal assets in a way that is both simple and effective.
The authors highlight the problems with traditional government-issued currencies, particularly the risks of inflation and loss of purchasing power. They discuss how centralized control over money can lead to financial instability and even oppression, as seen in countries with strict currency regulations and rampant inflation. Bitcoin, with its decentralized nature and limited supply, offers a way to escape these issues. It allows people to protect their wealth from devaluation and provides a level of financial autonomy that is often not available in low-income countries, where access to banking services are limited.
Moreover, the book points out that Bitcoin is semi-anonymous, offering enhanced privacy compared to traditional banking systems. This privacy is crucial in a world where governments and corporations increasingly monitor financial transactions. The authors argue that Bitcoin's ability to operate without the need for a bank or financial institution makes it particularly valuable in regions where such services are unavailable or unreliable. By using Bitcoin, individuals can secure their assets, maintain their privacy, and participate in the global economy, regardless of their location or financial status.
Author: The Bitcoin Collective, Timi Ajiboye, Luis Buenaventura, Lily Liu, Alexander Lloyd, Alejandro Machado, Jimmy Song, Alena Vranova, Alex Gladstein
Publisher: Whispering Candle
Published: 2019
Total pages: 116
ISBN: 9781641990509
Read and reviewed: 2024
"The Little Bitcoin Book" is an exploration of the philosophy behind the Bitcoin, emphasizing its potential benefits for individuals worldwide as digital money becomes more prevalent. The book does not delve deeply into technical details or analyze Bitcoin's market performance. Instead, it focuses on how Bitcoin can empower global citizens by offering a decentralized, secure, and accessible alternative to traditional financial systems. With the world increasingly moving towards digital currency, the book argues that Bitcoin offers a unique opportunity to protect personal assets in a way that is both simple and effective.
The authors highlight the problems with traditional government-issued currencies, particularly the risks of inflation and loss of purchasing power. They discuss how centralized control over money can lead to financial instability and even oppression, as seen in countries with strict currency regulations and rampant inflation. Bitcoin, with its decentralized nature and limited supply, offers a way to escape these issues. It allows people to protect their wealth from devaluation and provides a level of financial autonomy that is often not available in low-income countries, where access to banking services are limited.
Moreover, the book points out that Bitcoin is semi-anonymous, offering enhanced privacy compared to traditional banking systems. This privacy is crucial in a world where governments and corporations increasingly monitor financial transactions. The authors argue that Bitcoin's ability to operate without the need for a bank or financial institution makes it particularly valuable in regions where such services are unavailable or unreliable. By using Bitcoin, individuals can secure their assets, maintain their privacy, and participate in the global economy, regardless of their location or financial status.
This entire review has been hidden because of spoilers.
June 23, 2024
I understand that this book was intended to be just an introduction to the world of blockchain and Bitcoin, but still, I would have expected it to go a bit more in detail regarding how exactly a blockchain works. It seems superficial to me, but I think it would have helped if the technical details had been explained a bit more thoroughly.
As I read in other comments as well, all the thoughts in this book seem unfinished, and it seems like marketing to promote Bitcoin, without objectively presenting the disadvantages (apart from volatility, which cannot be hidden).
That's about the book, and now about Bitcoin itself and what is presented about it in this book: The biggest problem I see, or at least what I don't understand, is that Bitcoin is meant to be a new system that does not depend on governments and other centralized things, but still, the value of Bitcoin is expressed in dollars (or any other fiat currency). And here I don't understand the logic behind it: if this currency is not backed by anything (at least that's the intention), who exactly gives it value? Who determines the value of a satoshi or Bitcoin?
As a summary: in theory, it sounds like a good idea because this is what the book tries to convince you, but it doesn't cover or take into account how exactly it can be implemented (how it will work in real life if there will be no fiat currency anymore) or the negative aspects.
As I read in other comments as well, all the thoughts in this book seem unfinished, and it seems like marketing to promote Bitcoin, without objectively presenting the disadvantages (apart from volatility, which cannot be hidden).
That's about the book, and now about Bitcoin itself and what is presented about it in this book: The biggest problem I see, or at least what I don't understand, is that Bitcoin is meant to be a new system that does not depend on governments and other centralized things, but still, the value of Bitcoin is expressed in dollars (or any other fiat currency). And here I don't understand the logic behind it: if this currency is not backed by anything (at least that's the intention), who exactly gives it value? Who determines the value of a satoshi or Bitcoin?
As a summary: in theory, it sounds like a good idea because this is what the book tries to convince you, but it doesn't cover or take into account how exactly it can be implemented (how it will work in real life if there will be no fiat currency anymore) or the negative aspects.
August 11, 2021
This book is a good read if you're not super familiar with cryptocurrencies or Blockchain technology. I like how simply and non-technically they laid out details on crypto, Blockchain technology, etc.
Unfortunately, it fails to be nuanced or to address some extremely important topics.
For example, the authors fail to be objective with respect to how governments will respond to Bitcoin. They argue that governments will have a hard time fully restricting the flow of Bitcoin - when in fact if governments prevent the usage of the currency for the sale of physical goods they'll likely hamper the use of the currency domestically. Additionally, the author's fail to indicate the affects the currency will have on taxation and their unsupported claim that crypto will reduce income tax while increasing standard of living shows how farfetched and biased they can be. Indeed they make a number of similar, unsupported, far reaching claims.
Moreover, many important topics aren't covered in the text including
1. Bitcoin vs other cryptocurrency technologies - and what the tradeoffs are there. Why argue in favor of Bitcoin instead of in favor of all crypto without describing unique distinct advantages / differences between Bitcoin and say Ethereum
2. The future of other Blockchain technology.
Unfortunately, it fails to be nuanced or to address some extremely important topics.
For example, the authors fail to be objective with respect to how governments will respond to Bitcoin. They argue that governments will have a hard time fully restricting the flow of Bitcoin - when in fact if governments prevent the usage of the currency for the sale of physical goods they'll likely hamper the use of the currency domestically. Additionally, the author's fail to indicate the affects the currency will have on taxation and their unsupported claim that crypto will reduce income tax while increasing standard of living shows how farfetched and biased they can be. Indeed they make a number of similar, unsupported, far reaching claims.
Moreover, many important topics aren't covered in the text including
1. Bitcoin vs other cryptocurrency technologies - and what the tradeoffs are there. Why argue in favor of Bitcoin instead of in favor of all crypto without describing unique distinct advantages / differences between Bitcoin and say Ethereum
2. The future of other Blockchain technology.
June 6, 2022
Great intro to Bitcoin, its origins, purpose, and how it works. An ideal book for someone who knows absolutely nothing about Bitcoin, wants to learn the details of how it works (without getting hyper-technical), and doesn’t know where to start.
The book weakens in the last chapters when the authors try explaining the societal benefits of Bitcoin. I don’t doubt the potential in democratizing financial access, especially to those unable to open bank accounts, but the fact that they spent pages explaining the financial benefits of Bitcoin and then in just a few paragraphs try to make the conclusion that Bitcoin will lead to the end of global wars demonstrates the multiple authors’ limited understanding of global politics and international development. The sweeping social claims with gigantic logical leaps and no opinions from experts in more relevant fields weakens the whole book. But honestly, as a primer in “what the hell is Bitcoin and how does this work” it does a great job and I learned a lot.
The book weakens in the last chapters when the authors try explaining the societal benefits of Bitcoin. I don’t doubt the potential in democratizing financial access, especially to those unable to open bank accounts, but the fact that they spent pages explaining the financial benefits of Bitcoin and then in just a few paragraphs try to make the conclusion that Bitcoin will lead to the end of global wars demonstrates the multiple authors’ limited understanding of global politics and international development. The sweeping social claims with gigantic logical leaps and no opinions from experts in more relevant fields weakens the whole book. But honestly, as a primer in “what the hell is Bitcoin and how does this work” it does a great job and I learned a lot.
October 20, 2023
I’ve already drunken the kool aid, so this was mostly covered ground, but it was a great recap. I really respect anyone who takes the ideal of brevity seriously. (So many writers expound on the virtue of it, and so few put it to practice!) This tells you everything you need to know about Bitcoin in a few pages (unless you’re say, looking to run a node). And I do think it’s important for people to know about Bitcoin, especially when our current monetary system is looking to be, increasingly unstable, call it. When the default finally comes and there’s a full run on USD, we’ll be grateful Bitcoin was there. Better to get in early.
January 10, 2021
I won this book in a giveaway done by one of the authors, but I didn't read it immediately.
The recent price increase in Bitcoin told me to STOP PROCRASTINATING, READ THE BOOK AND LEARN ABOUT BITCOIN.
I'm glad I listened.
If you are a complete beginner like me, this book is an excellent introduction to the world of Bitcoin. I particularly like how the authors did not shy away from mentioning the potential problems of Bitcoin.
It was really insightful, and I am on my way to buying my first Bitcoin!
The recent price increase in Bitcoin told me to STOP PROCRASTINATING, READ THE BOOK AND LEARN ABOUT BITCOIN.
I'm glad I listened.
If you are a complete beginner like me, this book is an excellent introduction to the world of Bitcoin. I particularly like how the authors did not shy away from mentioning the potential problems of Bitcoin.
It was really insightful, and I am on my way to buying my first Bitcoin!
November 16, 2021
O carte bine scrisă, ușor de citit și digerat. Explică pe înțelesul tuturor ce este bitcoin și rolul pe care îl poate avea în viețile noastre și mai ales folosirea acestuia pe scară globală ca metodă sigură de plată. Am acordat doar patru stele pentru că în carte sunt prezentate doar aspectele și impactul pozitive asupra societății și foarte puțin despre implicațiile negative care de asemenea trebuie luate în considerare. La un moment dat pare că face reclamă la bitcoin, ceea ce nu e de dorit atunci când vrem să ne informam astfel încât să putem alege.
January 15, 2023
I was looking for a relatively short book on the basics of bitcoin. I think this book covered the basics well. I admit I was highly skeptical about cryptocurrency as a whole; I kept putting the book at the bottom of my reading list. I finally sat down one cold winter day and read the entire book in one sitting. I walked away from it with the desire to learn as much as I can before immersing myself into a potential black hole. I'm not sure where to go from here, I'm open to any suggestions.
March 25, 2023
Este libro explica las características, los pros y los contras de esta criptomoneda. Yo esperaba algo diferente como una especie de "Bitcoin para tontos". Por esa razón, al inicio me costó comprender todo lo que leía, pero después capté que es una buena introducción al tema y permite poder decidir si te interesa profundizar más sobre esto o lo dejas hasta ahí. Lo recomiendo solo a aquellos que les llame la atención sobre estos temas. Confieso que sí voy a investigar más.
February 16, 2021
Look no further
If you’re looking for a book to get started, whether it’s for you, a friend, or a loved one: this is it. Super short, nontechnical, and to the point. What is Bitcoin? How does it work? Why is it even necessary? Common questions (and answers to them). It has it all. I really appreciate this book and I will be recommending it to all newbies moving forward.
If you’re looking for a book to get started, whether it’s for you, a friend, or a loved one: this is it. Super short, nontechnical, and to the point. What is Bitcoin? How does it work? Why is it even necessary? Common questions (and answers to them). It has it all. I really appreciate this book and I will be recommending it to all newbies moving forward.
February 24, 2021
As title suggests: it's a little book about Bitcoin. It covers the basics: why Bitcoin is important, what kind of problems it solves and then has answers to some of the most commonly asked questions about Bitcoin.
A good and quick read for the beginner. Some interesting stories from countries such as Nigeria and Venezuela for more seasoned hodler.
A good and quick read for the beginner. Some interesting stories from countries such as Nigeria and Venezuela for more seasoned hodler.
January 2, 2022
exactly what I needed
As I’ve tried to educate my self on Bitcoin through Youtube videos, there’s a lot of information. This book doesn’t get into minutiae, but it gives readers the foundation to understand how to further learn on their own to get some skin in the game, while also understanding the societal benefits of using Cryptocurrency. I’m glad I read.
As I’ve tried to educate my self on Bitcoin through Youtube videos, there’s a lot of information. This book doesn’t get into minutiae, but it gives readers the foundation to understand how to further learn on their own to get some skin in the game, while also understanding the societal benefits of using Cryptocurrency. I’m glad I read.
January 26, 2022
3 stele pentru carte, nicidecum pentru Bitcoin. Explicații foarte clare și ușor de înțeles, însă aduce in fata doar efectele pozitive, care sunt multe și greu de contestat. Am perceput-o totusi mai mult ca o brosura de promovare cu multe explicații utile, ce-i drept, decât ca o descriere obiectiva.
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