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How many backups of my seed should I create? How do I fund a Bitcoin Wallet?
This book explains all the reasons why. One person found this helpful. Not all arguments holds when arguing against BitCoin, but the book is enlightening and well written. I got some new insights, but the BitCoin congregation would not buy it. Jeff Robinson pretty much hits the nail on the head and demolishes many myths of Bitcoin. It is refreshing to hear someone give a coherent explanation of how the Bitcoin emperor has no clothes. The book gets four stars instead of five because it spends too much time ridiculing the libertarian extremists and the Bitcoin "Faithful" and less time describing in more detail the technical issues.
At time this can be childish and ad hominen in a way that detracts from the author's credibility and may cause his sound esearch and points to be dismissed. I would have also liked to have seen a more in depth description of the different kinds of smart contracts and how the blockchain technology could really be put to use effectively. Particularly it is not clear why this clever technology can compete with other combinations of database and electronic signature technologies unless one insists on having no centralized trusted record keepers.
It is not clear that such a decentralization of trust has a huge demand outside of a narrow group or offers significant social benefits. I have never really paid attention to how money works its way through our monetary system, until reading this book!
I have heard of Bitcoin but never really understood how it worked or even what it is. Robinson has really shone the light on it and explained it in laymens terms so that I could understand, firstly, what it is and secondly how I wanted nothing to do with it.
He seems very knowledgeable on the subject and is making his contribution here to try to let, the people that may be swayed into thinking that this is the next millionaire making fad, know that all is not what it seems with Bitcoin. A few months ago I decided it was about time I figured out what all the fuss about bitcoin was. I began reading and listening to all the usual suspects in the bitcoin universe, and I came away with the impression that bitcoin is more than a pipedream for cryptoanarchists and Ron Paul supporters although certainly it is also that.
For all the lengthy and exhaustive discussions of the merits of bitcoin by its advocates, its many critics only expressed their doubts in brief articles or dismissive one-liners, without addressing in depth the alleged merits that its supporters ascribed to the technology. Good God, was I wrong. If in ten years from now bitcoin had completely failed and someone were to re-read this book, almost nothing in it will have proven prescient or insightful about the future course of events.
My most fundamental gripe with this book is that I came looking for the best possible refutation of the best possible argument against the most modest success-scenarios for bitcoin. What I found were mediocre refutations against the most adversarial interpretations of the weakest possible arguments made by the most unremarkable bitcoin advocates in support of the most grandiose and deluded visions of bitcoin's future.
It is as if the author has put himself to work to find the Billy Madisons of the world of bitcoin and then tried to prove them wrong really really hard. Throughout the chapter he quotes the very dumbest of them and he always seems to have a clever comeback for their idiocies, the type of clever comeback that always seems a little too spot-on to have been uttered with perfect timing, as if Robinson was the only person on earth who does not suffer of esprit de l'escalier.
Even as a character study this sad vignette would be unacceptable, but the author instead uses the chapter to introduce pretty much the only speaking voice in favour of bitcoin.
When he doesn't use nameless internet ignoramuses to set up his strawmen, Robinson chooses some of the worst crooks to have ever emerged in the bitcoin universe as if only bitcoin attracted crooks, and not money in general and tries to make them representative of the technology and the ecosystem by guilt through association.
What does this have to do with bitcoin? What does this prove? Why am I even reading this? Some of the most credentialled figures who show up in the book are Tim Swanson and Johnatan Levin, whom he quotes selectively giving the public the impression that they agree with him that Bitcoin is a complete scam. Most of the book is devoted to setting up claims that almost nobody is making and then knocking them down with disparaging sarcasm.
Whenever I read a 1-star review like the ones for this book, and I see nonsensical comments such as "there's not a single citation to be found" and then I read the book and find citations all over the place, documenting the many substantial interviews that the author has done, I realize that I'm reading a special book. The author, Jeffrey Robinson, who has serious journalistic credentials, not only writes well but knows this subject inside out.
No, this is not a book that hypes bitcoin. But he's not biased. He presents both sides of the argument. In doing that, he reveals bitcoin for what it is - in Warren Buffett's words - "a mirage. They are taking part in a concerted effort to discredit this book. Because the author shows them up to be "the greater fools" that the bitcoin world needs to keep the "mirage" alive.
It's a terrific read. See all 74 reviews. Amazon Giveaway allows you to run promotional giveaways in order to create buzz, reward your audience, and attract new followers and customers.
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