- File Size: 1132 KB
- Print Length: 150 pages
- Publication Date: September 22, 2014
- Sold by: Amazon Digital Services LLC
- Language: English
- ASIN: B00NUIUQ3A
- Text-to-Speech: Enabled
- Word Wise: Not Enabled
- Lending: Enabled
- Amazon Best Sellers Rank: #611,698 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
BitCon: The Naked Truth About Bitcoin Kindle Edition
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The second reason being that I have heard about bitcoins numerous times from my grandchildren, especially my grandson, and was clueless as to what exactly this bitcoin was and how one used it.
So when I saw the author had written an investigative book on bit coins based on his opinion - I felt it was worth reading.
While I see a mix of people saying yay to this book and people saying nay, as a retired school teacher, I keep in mind that one is entitled to his or her own opinions. I personally had no opinion before reading this book as I had no information other than hearing the word bitcoin several times recently. I'm not sure if I am spelling the word bitcoin correctly as Amazon keeps marking it as a misspelled word.
Mr. Robinson is slanted towards those not in favor of bit coins. He walks the reader through his reasoning and I think he provides good documentation for his logic.
Maybe some people disagree and maybe some people agree with his findings. This appears to be a volatile topic with strong feelings by both the yays and the nays. In my case, it as given me some interesting food for thought and I will certainly be sharing this book with my grandson to find out his opinion.
At the crux of his thesis is that Bitcoin has no fixed value; it trades like a stock and, as such, its volatility makes it virtually useless as a means for transactions. Money is optimal when it is fixed in value, and Bitcoin’s wacky fluctuations make it anything but.
This book has stirred much controversy, but I found it thought-provoking if nothing else. Whatever your philosophy, you should check out what this guy has to say, and judge for yourself.
The book gets four stars instead of five because it spends too much time ridiculing the libertarian extremists and the Bitcoin "Faithful" and less time describing in more detail the technical issues. At time this can be childish and ad hominen in a way that detracts from the author's credibility and may cause his sound esearch and points to be dismissed.
I would have also liked to have seen a more in depth description of the different kinds of smart contracts and how the blockchain technology could really be put to use effectively. Particularly it is not clear why this clever technology can compete with other combinations of database and electronic signature technologies unless one insists on having no centralized trusted record keepers. It is not clear that such a decentralization of trust has a huge demand outside of a narrow group or offers significant social benefits.
A word of caution: Bitcoiners come across as extremists and oddballs towards this movement. Tread carefully, organize your own conclusion. Brush off the nonsensical 1 star reviews submitted by hysterical trolls, who clearly haven't read the book. Purchasing this book will be of value to anyone who is curious about the subject. This book will help you form your own conclusion on the phenomenon of this new and revolutionary digital realm.