Review of Bitcoin Answered
Posted: 31 Dec 2021, 11:53
[Following is a volunteer review of "Bitcoin Answered" by Jon Law.]
Bitcoin: Answered by Jon Law and Alan John is a guide that attempts to disentangle the myths and facts surrounding Bitcoin for the general public. The authors’ method of expression is short and sweet. They avoid complex technical jargon, making it possible, even for the uninitiated to understand the authors’ writings.
The author very aptly begins with the most fundamental question, “What is Bitcoin?”. They then go on to explain, quite cunningly, how only the complete reading of the whole text would answer that question. They then go on to describe a bit about how Bitcoin was started by a supposedly Japanese man named, Satoshi Nakamoto. The authors continue by describing how Bitcoin in itself is secure because it is public, decentralized, irreversible and its use of hashing processes. This decentralization of Bitcoin is possible through P2P (peer-to-peer) network. They then inform their readers that the essence of Bitcoin is in providing a store of value and a means of private, global, and secure transactions which it successfully executes on a day-to-day basis. Sections such as the one titled "How would you explain Bitcoin to a 5-year-old?" stand as a testament to the authors’ in-depth knowledge about Bitcoin.
This book was enlightening in several fields. The author doesn't hesitate to address even seemingly ridiculous questions such as, “Is Bitcoin a company?” or “Is it a scam?”. Additionally, he answers more practical questions regarding the issues related to the hacking of Bitcoin, the biggest problems associated with it and its much-hyped anonymity. Their presentation of topics is crisp and concise. the author also gives a concise description of the nomenclature regulating the use of the term 'Bitcoin’. They further explain how transactions take place through blockchain technology, and how all the transactions are public. The authors also tell us how Bitcoin, being a pioneer amongst cryptocurrencies is currently using outdated technology to keep functioning. The book also gives a simplistic overview of the mining process and how we can get 'fiat' currency in exchange for cryptocurrencies.
What I liked most about this book is easy to understand and short steps for deciphering various kinds of graphs. The authors have also, conveniently provided images and direct links as and when needed on each page. It also tells us about inflationary trends in Bitcoin trading, a simplistic overview of the mining process and how we can get 'fiat' currency in exchange for cryptocurrencies. The authors also let their readers know, in a crisp manner about the economics of Bitcoin mining and how does the system of 'pooling' works. The book further elaborates on Bitcoin investment by taking into account its volatility and practical tips on Bitcoin investment future trends related to the scaling up in the value of Bitcoin. It also gives a broad overview of the legality of Bitcoin in various parts of the world.
This guide will be of immense help to elderly readers who want to foray into Bitcoin trading and mining. Moreover, young readers, including students as well as working professionals will favour this book because the authors have made the chapters short, original and informative.
In conclusion, this book deserves a score of 4 out of 4 stars. I gave it a full rating because apart from being excellently written, it has been professionally edited and formatted. I couldn’t find any grammatical mistakes or editing faults. Further, I found the contents and resources of the guide to be extremely informative and useful.
******
Bitcoin Answered
View: on Bookshelves | on Amazon
Bitcoin: Answered by Jon Law and Alan John is a guide that attempts to disentangle the myths and facts surrounding Bitcoin for the general public. The authors’ method of expression is short and sweet. They avoid complex technical jargon, making it possible, even for the uninitiated to understand the authors’ writings.
The author very aptly begins with the most fundamental question, “What is Bitcoin?”. They then go on to explain, quite cunningly, how only the complete reading of the whole text would answer that question. They then go on to describe a bit about how Bitcoin was started by a supposedly Japanese man named, Satoshi Nakamoto. The authors continue by describing how Bitcoin in itself is secure because it is public, decentralized, irreversible and its use of hashing processes. This decentralization of Bitcoin is possible through P2P (peer-to-peer) network. They then inform their readers that the essence of Bitcoin is in providing a store of value and a means of private, global, and secure transactions which it successfully executes on a day-to-day basis. Sections such as the one titled "How would you explain Bitcoin to a 5-year-old?" stand as a testament to the authors’ in-depth knowledge about Bitcoin.
This book was enlightening in several fields. The author doesn't hesitate to address even seemingly ridiculous questions such as, “Is Bitcoin a company?” or “Is it a scam?”. Additionally, he answers more practical questions regarding the issues related to the hacking of Bitcoin, the biggest problems associated with it and its much-hyped anonymity. Their presentation of topics is crisp and concise. the author also gives a concise description of the nomenclature regulating the use of the term 'Bitcoin’. They further explain how transactions take place through blockchain technology, and how all the transactions are public. The authors also tell us how Bitcoin, being a pioneer amongst cryptocurrencies is currently using outdated technology to keep functioning. The book also gives a simplistic overview of the mining process and how we can get 'fiat' currency in exchange for cryptocurrencies.
What I liked most about this book is easy to understand and short steps for deciphering various kinds of graphs. The authors have also, conveniently provided images and direct links as and when needed on each page. It also tells us about inflationary trends in Bitcoin trading, a simplistic overview of the mining process and how we can get 'fiat' currency in exchange for cryptocurrencies. The authors also let their readers know, in a crisp manner about the economics of Bitcoin mining and how does the system of 'pooling' works. The book further elaborates on Bitcoin investment by taking into account its volatility and practical tips on Bitcoin investment future trends related to the scaling up in the value of Bitcoin. It also gives a broad overview of the legality of Bitcoin in various parts of the world.
This guide will be of immense help to elderly readers who want to foray into Bitcoin trading and mining. Moreover, young readers, including students as well as working professionals will favour this book because the authors have made the chapters short, original and informative.
In conclusion, this book deserves a score of 4 out of 4 stars. I gave it a full rating because apart from being excellently written, it has been professionally edited and formatted. I couldn’t find any grammatical mistakes or editing faults. Further, I found the contents and resources of the guide to be extremely informative and useful.
******
Bitcoin Answered
View: on Bookshelves | on Amazon