on April 5, 2013
I remember a few years ago when bitcoins came out on the internet as an alternative to shopping with credit card. I was in immediately. I read all the news articles I could find which were very, very few and ended up with "What?" I did not quite understand how this worked or even where to start, so I held off getting involved. Now it is back in the news, so I decided to read up again to make sure I understood how bitcoins work. The information in this book is identical to what I read several years ago. Nothing has changed, so that "what" I experienced is explained the same way; however, I do understand now what they meant. The information in this book can be gleaned for free on the internet. Plus towards the end of the book is a discourse on the subject of "freedom," and how the US government abuses/manipulates.... American citizens through taxation......... My response to it is "if we truly want to be free humans, stop shopping" then we don't have to work 9 to 5. You learn to grow your food, use it to barter, learn survival skills and other skills to barter, become tech savvy....... You beat them and the system. By the way I read just yesterday the bitcoin miner in Japan was hacked as well as another bitcoin website sending the value of bitcoins plummeting. Also I have yet to see a merchant who accepts bitcoins.
on March 13, 2013
I enjoyed the book for the most part. I felt the book meandered after the discussion of bitcoin ended and issue advocacy started. Freeman (I hope that is his real name; it would be a terrible pun otherwise) covers what money really is and what constitutes a medium of exchange. Freeman explains how paper money came to be. Fascinating stuff really. I was hoping for a more technical discussion of bitcoin. Bitcoin is, inherently, a technology-based vehicle. The users of bitcoin really do need to understand, at least on a basic level, what it means to maintain that peer to peer network of honest bitcoin participants. Bitcoin's success is predicated on this p2p network. All in all, a great read and I loved the projections for bitcoin that Freeman covers.