Understand Money and Bitcoin

Embark on an educational, insightful and fun journey into the turbulent oceans of the financial world, its theories and its shortcomings. Then follow ancient generals through the intricacies of cryptographic communication.

A must-read for beginners and experts alike, A brief introduction to Bitcoin entails stories, examples and anecdotes. It depicts the motivations, thinking and the work behind the world's most recognisable and first digital scarce asset: Bitcoin.

The book will offer you a solid understanding of money, Bitcoin and all that's interesting and relevant surrounding it.

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What the book offers you

Amongst many other things, A brief introduction to Bitcoin explains simply and in great detail how Bitcoin fulfils all attributes of hard money:

  • It's scarce, having only a limited amount of 21 million that will ever be in circulation. That provides better planning capabilities, even than gold.
  • It's durable, with each day for the past 11 years (and counting) proving its un-hackability, even though the best in the world have tried - as Bitcoin was born in cryptographic forums.
  • It's highly divisible, up to the 8th decimal point. In other words, you can even have sub-cent micro transactions, opening a world of new possibilities.
  • It's incredibly portable, with transactions from anywhere around the world to anywhere else around the world taking between milliseconds and minutes. In comparison, transporting bigger quantities of gold even a few miles is a risky and expensive feat.
  • It cannot be confiscated, meaning that even during the harshest political and economic times, owning the key means owning the value. This makes it unvaluable to a great majority of peoples around the world.
  • Its storage (as well as its security) is a given by the network's decentralized nature: it doesn't need to be kept in vaults in big buildings and defended with armoured trucks and assault rifles, as is the case with other valuable goods.
  • It's fungible, as each unit equals any other unit - there are no purity issues or weight considerations etc.
  • It's impossible to counterfeit - there are immovable rules in place that make sure actors can only play by the rules.
  • It can only be created by investing real world work and effort - similar to any precious material.

Bitcoin is special, having a huge first mover advantage in the digital currency space. It has the greatest invested power, meaning the greatest security. It has the biggest and best development community, and it has the highest brand recognition of all digital currencies. Long story short, Bitcoin fulfils, without exception, all attributes of hard money - and most, if not all, of them better than gold. A brief introduction to Bitcoin will show you why this holds true.

Cosmin Novac is an early adopter of Bitcoin, the owner of facebook.com/IFreakingLoveBitcoin and a hodler. He is a data scientist with vast experience in the banking, insurance and energy sectors. Cosmin graduated in 2013 with a Master's degree in IT Management in Cologne, Germany.