‘Bitcoin is one of the most important innovations of our time – it will transform the way we do business. Dominic Frisby has written a great account. Read it and glimpse into the future’ —Sir Richard Branson In 2008, while the world was busy panicking about the global financial crisis, a computer programmer called Satoshi Nakamoto posted a message on an out-of-the-way mailing list. ‘I’ve been working on a new electronic cash system,’ he said. ‘It might make sense to get some just in case it catches on.’ Nobody seemed to care. But what he had programmed would become the world’s most famous alternative currency: Bitcoin. Economists, anarchists, speculators, computer coders, libertarians, criminals and entrepreneurs were inspired across the world. Early adopters would make a return two million times larger than their investment. Now it seems that Bitcoin will do to banking and finance what email did to the postal service and what the internet did to publishing: destroy old monopolies and create opportunities for the masses. Some even suggest that the technology behind Bitcoin will usurp our Western systems of representative democracy. In this gripping book, Dominic Frisby sets out to solve the mystery surrounding the identity of Bitcoin’s secretive creator, Satoshi Nakamoto. He shows how Bitcoin will change the world. And, perhaps most importantly of all, he does something nobody else has hitherto been able to do: he explains in layman’s language exactly how it works. ‘The book’s outstanding, but the story it tells is even better.’ —Matt Ridley, The Times ‘In this highly readable yet technically accomplished book, Dominic Frisby makes crypto currencies crystal clear. Read it, or fail to understand possibly the most important financial innovation of our time.’ —Liam Halligan, Sunday Telegraph ‘Despite having an MSc in Computer Science and spending over ten years studying monetary theory, I ignored Bitcoin as hype for too long. You shouldn’t. Read Dominic’s thrilling book and discover the next big thing.’ —Steve Baker, MP

Reviews

A great beginning, I appreciated his chapters on the rise of Bitcoin, and his search for the real Satoshi was quite the page turner. Bravo. But he lost me with the Libertarian sermonizing. We need much less on how Bitcoin will usher in a utopian age of freedom and equality, and more on practical applications that can happen in the near term.

The author’s chapter on how Bitcoin will be the enemy of the state is rife with bad economic analysis and straw man arguments. Deflation will help the poor? You mean the people in the US who are massively in debt? Not likely…. It is also incredibly naive. What is more likely, Bitcoin will bring equality to the masses, and shrink the ever growing gap between rich and poor? Or the rich and powerful, as they’ve always done, will find ways to leverage Bitcoin to ensure they increase their wealth and power? But this time it’s different you say! Ha, yeah, good one. The author believes Bitcoin will help reduce war, as well. As if the most powerful nation on earth, the war masters, will just throw their hands up and say, “We want to invade another country, but with Bitcoin we are forced to act more responsibly and morally, there’s just nothing we can do!” Yeah, again, that’s just not going to happen…

Still, it’s a fun read, I did learn a lot, and it’s well written and engaging.

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