Review of Bitcoin Answered
Posted: 21 Jan 2022, 04:50
[Following is a volunteer review of "Bitcoin Answered" by Jon Law.]
Bitcoin Answered by Jon Law and Alan John is a book that is focused on educating and informing people about Bitcoin. It exhaustively discusses everything from when and who founded it, how Bitcoin works before it finally demystifies and debunks all myths about Bitcoin. The book is narrated from the third-person perspective, which suits its explanatory nature. It is written well in a nice font, making it easy to read and enjoy.
Bitcoin is a digital cryptocurrency that is often used for trading or to hold assets. It was allegedly started by a Japanese national named Satoshi Nakatomo, who is mysterious since not much is known about him. He uses tracks and footprints which identify him as either an American or English. Bitcoin, just like other cryptocurrencies, operates through blockchain technology. We can think of this as a type of network that stores data and passes information between them. Computers, which are known as nodes, manage bitcoin, connected to the blockchain. Thousands of computers manage the 21 million bitcoins, which makes hacking or corrupting Bitcoin technically impossible.
Bitcoin mining is the art of helping to manage Bitcoin through using nodes and a reward in terms of Bitcoins is given. The coin is the most popular cryptocurrency among others like Eytherium, Litecoin, Cardano, whose owners are otherwise referred to as whales, especially if they own large quantities of the coins. Bitcoin wallets have keys for security, both physical and digital for securing the bitcoin wallets. The greatest challenges around Bitcoin are its volatility and its huge energy consumption. Bitcoin trading and mining is a profitable activity, depending on how the trader studies and predicts markets before acting accordingly.
I liked the approach taken by Law and John to explain Bitcoin. It contains solid knowledge and depth of facts, which could only be obtained through extensive research. It succinctly explains all the facts and myths about Bitcoin from when it was founded, how it works, its wallets, ledgers, blockchain network, security, volatility, availability, and challenges among others. Second, the authors split the book well between various topics and subtopics. This helps in keeping track of the knowledge being shared. It also allows readers to easily revisit a particular area regarding Bitcoin. This is definitely what I loved most about this book. The book has diagrams and sample charts that help the reader picture, internalize, and understand the subject of discussion. The authors' choice of words is equally outstanding, clear by the use of relevant jargon and depth of vocabulary; an average reader will effectively understand the basic tenets of Bitcoin. However, the book has an element of repetition. They have overemphasized various subtopics like Bitcoin mining and trading, which is what I liked least about this book as I found the repetition quite boring and detracting.
Overall, this book is rich in knowledge and has an excellent mode of delivery of content. I recommend it to anyone that is a novice or has little knowledge but eagerly wants to learn about cryptocurrency and Bitcoin trading. I did not find grammatical errors in my reading experience and believe that the book is edited professionally, thus merits the maximum rating of four out of four stars.
******
Bitcoin Answered
View: on Bookshelves | on Amazon
Bitcoin Answered by Jon Law and Alan John is a book that is focused on educating and informing people about Bitcoin. It exhaustively discusses everything from when and who founded it, how Bitcoin works before it finally demystifies and debunks all myths about Bitcoin. The book is narrated from the third-person perspective, which suits its explanatory nature. It is written well in a nice font, making it easy to read and enjoy.
Bitcoin is a digital cryptocurrency that is often used for trading or to hold assets. It was allegedly started by a Japanese national named Satoshi Nakatomo, who is mysterious since not much is known about him. He uses tracks and footprints which identify him as either an American or English. Bitcoin, just like other cryptocurrencies, operates through blockchain technology. We can think of this as a type of network that stores data and passes information between them. Computers, which are known as nodes, manage bitcoin, connected to the blockchain. Thousands of computers manage the 21 million bitcoins, which makes hacking or corrupting Bitcoin technically impossible.
Bitcoin mining is the art of helping to manage Bitcoin through using nodes and a reward in terms of Bitcoins is given. The coin is the most popular cryptocurrency among others like Eytherium, Litecoin, Cardano, whose owners are otherwise referred to as whales, especially if they own large quantities of the coins. Bitcoin wallets have keys for security, both physical and digital for securing the bitcoin wallets. The greatest challenges around Bitcoin are its volatility and its huge energy consumption. Bitcoin trading and mining is a profitable activity, depending on how the trader studies and predicts markets before acting accordingly.
I liked the approach taken by Law and John to explain Bitcoin. It contains solid knowledge and depth of facts, which could only be obtained through extensive research. It succinctly explains all the facts and myths about Bitcoin from when it was founded, how it works, its wallets, ledgers, blockchain network, security, volatility, availability, and challenges among others. Second, the authors split the book well between various topics and subtopics. This helps in keeping track of the knowledge being shared. It also allows readers to easily revisit a particular area regarding Bitcoin. This is definitely what I loved most about this book. The book has diagrams and sample charts that help the reader picture, internalize, and understand the subject of discussion. The authors' choice of words is equally outstanding, clear by the use of relevant jargon and depth of vocabulary; an average reader will effectively understand the basic tenets of Bitcoin. However, the book has an element of repetition. They have overemphasized various subtopics like Bitcoin mining and trading, which is what I liked least about this book as I found the repetition quite boring and detracting.
Overall, this book is rich in knowledge and has an excellent mode of delivery of content. I recommend it to anyone that is a novice or has little knowledge but eagerly wants to learn about cryptocurrency and Bitcoin trading. I did not find grammatical errors in my reading experience and believe that the book is edited professionally, thus merits the maximum rating of four out of four stars.
******
Bitcoin Answered
View: on Bookshelves | on Amazon
