Review of Bitcoin Answered

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Annette111
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Review of Bitcoin Answered

Post by Annette111 »

[Following is a volunteer review of "Bitcoin Answered" by Jon Law.]
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3 out of 4 stars
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Bitcoin Answered: A Beginner’s Guide to Everything Bitcoin by Jon Law and Alan John lives up to its title. The authors have organized the topic of Bitcoin into a user-friendly question-and answer format. They list the questions in the Table of Contents, beginning with, “What is Bitcoin?”, and continue through with many more questions such as, “Can you give and get Bitcoin loans?”. The information is presented in an informal way that naturally builds upon itself as the reader carries on through the book.

I chose to read this book because I’m a pre-novice (if there is such a level) in the world of cryptocurrency. I wanted to learn about Bitcoin, and I learned a lot from this book. I really enjoyed the section on chart pattern classifications, which is about recognizing fluctuating market values over time. I also enjoyed comments about the psychology of trading. Throughout the book the authors also suggest various websites to explore as resources.

While I learned a lot from this book, I also often failed to truly connect the dots. For example, now I know that Bitcoin is generated from 13,000 computers solving complex mathematical problems. That same statement, however, presents one of the things that frustrates me about the topic. I read the English words, but I still lack the comprehension of exactly what they mean. How do 13,000 computers solving complex mathematical problems generate a digital currency of value in the real world? Another example is how confused I felt when reading the definition of hash. I reread that paragraph so many times and still felt bewildered. It also didn’t help that sometimes acronyms were used but not explained, such as “KYC mandates” (p. 39) and “ICO” (p. 61).

My lack of comprehension, however, is not the fault of the authors. It is solely my failure. Finance, tech, and international economics are foundational to the concept of Bitcoin, yet I do not even have a solid grasp of those areas apart from Bitcoin. Throwing Bitcoin into the mix is a recipe for confusion. The authors chose an abstract, technical topic in an emerging, evolving specialty area. They tackled this complex topic by breaking it down into intelligible chunks and giving concrete examples and including a cute graphic at the end of each chapter. Taking all of this into consideration, I rate this book 3 out of 4 stars.

I recommend this book for any reader who would like to learn more about Bitcoin. This a resource that someone could pick up and read from cover to cover like I did. However, the question-and-answer format of the Table of Contents also makes it possible for curious readers to pick and choose where they would like to start and the topics on which they would like to focus.

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Bitcoin Answered
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Soraya Bayah
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Post by Soraya Bayah »

I was delighted to see a review from someone who is not into finance and its many branches. I enjoyed your review and believe your rating was justified. I will skip this book for the sole reason that I am not interested in cryptocurrencies. Nonetheless, thank you for the insightful review.
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