Bitcoin creator book
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Of the 3 books on Bitcoin, I've read thus far, including "Digital Gold", and "The Age of Cryptocurrency", this one is by far the most informative, focusing purely on the motivation and thinking behind the construction and early refinement of the Bitcoin architecture. The problem with many contemporary tellings of the Bitcoin story is many authors mostly journalist who This is an essential collection of forum exchanges and writings of Bitcoin's founder Satoshi Nakamoto, written circa This perspective is not only false in many cases but has become tired.
Since Bitcoin is a non-trust based decentralized currency, Nakamoto explains that "CPU time" or GPU time as was the case after and is an instrument for trust, and he goes into intricate detail on how the blockchain works within the context of a peerpeer system when there are potentially many different versions of the "current" ledger, which involves a validation by voting across the network.
The exchange between Nakomoto and his colleagues here is great because it shows that good ideas do not spring fully-formed from minds of inscrutable geniuses, but are often half-formed and often the founders themselves had incomplete solutions to challenges they faced, but Post Hoc the solution that eventually came about seems magically simple and exhaustive, and hence, genius.
Nakomoto here gave a feasibility argument that practically no group of exploiters, that is those who often run 'zombie farms' could wield enough run-cycles to overturn the true ledger in such a voting scheme on account of scale in order of magnitude, since these groups often wield farms of k commodity boxes vs 10 million or more. This is a surprisingly "economist"-like argument answers the question by not answering the question. Yes, assuming all agents within the network had a pure profit-objective, this is "probably" correct.
Clearly, this won't be the last word on this matter. Adversarial algorithms are just starting to lift off in the field of machine learning, and I imagine cross-pollinating applications in that to these kinds of exploit challenges.
Other topics covered by the book include Nakamoto's thoughts on transaction costs, inflation, the mechanics of adding blocks to the block-chain, including some exploration on cases where two competing, but single-spend blocks are being added to the ledger, how this ledger system, the "proof of work" resolves the Byzantine's Generals Problem" from discrete mathematics and networking etc.
He also recommends trading platforms, and just how much of your portfolio should be dedicated to bitcoin. Additionally, the book provides a guide to the various platforms and dares to take a glimpse into the future. Suitable for both the more advanced investor and those who are seeking a greater understanding of the topic.
Cryptoassets scores extra points for being one of the few to cover crypto markets and investment in such detail, but it loses points for not fully detailing the negatives and positives of investing in crypto. BMJ score 4. An ideal primer for the beginner investor. The Little Bitcoin Book is a good primer for readers wanting to understand more about financial history, but its brevity means it lacks detail in some areas.
The authors of this book certainly think so. The book deep-dives into the creation and corruption of our current economy, while detailing how bitcoin could be its salvation. BMJ Rating 3. Those considering making the leap into the crypto world and want to see bitcoin explained clearly and concisely, will appreciate the fundamentals covered in the book, including how bitcoin works and its growing popularity.
Bitcoin Clarity is among the best bitcoin books for beginners, and provides a refresher for established investors. However, for a book aimed at beginners, it does include technical analysis, which some readers may find hard to follow.
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