Digital Gold

Digital Gold

By Nathaniel Popper

  • Release Date: 2015-05-19
  • Genre: Industries & Professions
Score: 4.5
4.5
From 12 Ratings
Download Now
The file download will begin after you complete the registration. Downloader's Terms of Service | DMCA

Description

SHORTLISTED FOR THE 2015 FINANCIAL TIMES AND MCKINSEY BUSINESS BOOK OF THE YEAR

A New York Times technology and business reporter charts the dramatic rise of Bitcoin and the fascinating personalities who are striving to create a new global money for the Internet age.

Digital Gold is New York Times reporter Nathaniel Popper’s brilliant and engrossing history of Bitcoin, the landmark digital money and financial technology that has spawned a global social movement.

The notion of a new currency, maintained by the computers of users around the world, has been the butt of many jokes, but that has not stopped it from growing into a technology worth billions of dollars, supported by the hordes of followers who have come to view it as the most important new idea since the creation of the Internet. Believers from Beijing to Buenos Aires see the potential for a financial system free from banks and governments. More than just a tech industry fad, Bitcoin has threatened to decentralize some of society’s most basic institutions.

An unusual tale of group invention, Digital Gold charts the rise of the Bitcoin technology through the eyes of the movement’s colorful central characters, including an Argentinian millionaire, a Chinese entrepreneur, Tyler and Cameron Winklevoss, and Bitcoin’s elusive creator, Satoshi Nakamoto. Already, Bitcoin has led to untold riches for some, and prison terms for others.

Reviews

  • Interesting

    5
    By holderad
    Just finished this book. While overall positive of the blockchain principle to revolutionize banking, it does expose the weakness in the "structural support beams" of bitcoin. There are many good reasons bitcoins value fluctuates wildly. Unfortunately, it's buying power is about as effective as gold's which is to say not great. When was the last time anyone bought or paid for anything in gold? To transact with bitcoin still requires conversion to fiat currency. Thus bitcoin is traded like a commodity, which it is not. Instead, bitcoin (because of the limited supply) is deflationary and downright dangerous to the global economy. It's value, which is increasing daily is working on the "bigger fool" principle...sort of like gold, but worse. Gold at least has applications in electronics and jewelry which largely drives the price because of its limited supply...despite what goldbugs will tell you. (Gold is not the standard by which fiat currency is judged. Rather, gold measures itself against fiat currency...ignore the TV commercials.) I have no doubt that blockchain will eventually become the digital standard of banking, but it will be as a supplement to fiat currency, not to replace it. I feel sorry for those that loose big when those with more information (i.e. the elite) of the global banking industry start to pull the fiat out of bitcoin. Until then, good luck! It's like playing the slots! Not saying you can't win, just saying you better know when to walk away.
  • Cracking read

    4
    By Guy Arm
    Cracking read especially the first three quarters. Whimpered out a little in the end.

keyboard_arrow_up