The Bitcoin Big Bang: How Alternative Currencies Are About to Change the World
The Bitcoin Big Bang is a guide to navigating the uncharted territory of digital currency. Written by CNBC contributor Brian Kelly, this book goes beyond Bitcoin 101 to explain how this transformative technology is about to change the world.
Introduction:
Digital currency is thrown into perspective against the history of payment systems and its own evolution, as readers are invited to explore the ways in which this technology is already changing the way business gets done. Readers gain insight into the mechanisms behind Bitcoin, and an expert perspective on digital currency’s effect on the future of money and the economic implications of the Bitcoin revolution. In the same way that e-mail changed the way we transfer information, the decentralized Bitcoin network is about to revolutionize the business world, the legal profession, and even the role of the government. The Bitcoin Big Bang dives head first into this paradigm shift, allowing readers to:
- Explore the origins of digital currency
- Learn the history and evolution of payment systems
- Discover how the Bitcoin network is facilitating free and instant transfer of value
- Understand the mining of Bitcoin, and how to invest
The digital currency revolution has implications that spread far beyond the finance industry. Anyone who exchanges payment for goods and services is on the cusp of the next big push in societal evolution, and only an understanding of the technology and a clear knowledge of the systems and behaviors at play can fully prepare us for the changes to come. The Bitcoin Big Bang is the go-to guide, helping those who use money use it better. The goal with the book was to answer four questions:
- What is Bitcoin, and why is it revolutionary?
- How does it work?
- Why are digital currencies a new type of investment?
- How are alternative currencies going to change the world?
To this end, the book was written with two sections in mind. The first half of the book describes what Bitcoin is and how it works, while the second half illustrates the multiple uses of the blockchain technology and explores the ramifications for investments, business, and government. An innovative technology was created by an anonymous programmer, who has given it away for free. This creation has spurred a technological explosion similar to the personal computer and the Internet, and, like its predecessors, alternative currencies are about the change the world.
Contents:
- Bitcoin Is a Bubble
- Understanding the Digital Gold Rush
- Bitcoin Is More than Digital Gold
- Byzantine Generals’ Problem
- A Decentralized Financial System
- What Do You Call a Bitcoin Miner? A Banker
- Nautiluscoin—0 to $1 Million in 60 Days
- Building the Nautiluscoin Economy
- Investing and Trading in Alternative Currencies
- Regulation
- Smart Money: Set It and Forget It
- Everything You Know about Business Is Wrong