Thursday, February 19, 2015

The Age of Cryptocurrency

How Bitcoin and Digital Money Are Challenging the Global Economic Order Hardcover – January 27, 2015
by Paul Vigna  (Author), Michael J. Casey  (Author)

The Age of Cryptocurrency:

“Bitcoins are stored in digital bank accounts or wallets that can be set up at home by anyone with Internet access. There is no trip to the bank to set up an account, no need for documentation or proof that you are a man. Indeed, bitcoin does not know your name or your gender, so it allows you to women in patriarchal societies, at least those with access to the Internet, to control their own money. The importance of this cannot be overstated.” This will give freedom to people that would not ever have the opportunity without this means!
This book will give you another look at the possibility of the future of digital currency. Bitcoins are explained and where it is headed is not guaranteed but I really did enjoy this one! Money, banking and cyber space all leads to a great read for me!
Bitcoin became a buzzword overnight. A cyber-enigma with an enthusiastic following, it pops up in headlines and fuels endless media debate. You can apparently use it to buy anything from coffee to cars, yet few people seem to truly understand what it is. This raises the question: Why should anyone care about bitcoin?
The bitcoin logo
The bitcoin logo (Photo credit: Wikipedia)
In The Age of Cryptocurrency, Wall Street journalists Paul Vigna and Michael J. Casey deliver the definitive answer to this question. Cybermoney is poised to launch a revolution, one that could reinvent traditional financial and social structures while bringing the world's billions of "unbanked" individuals into a new global economy. Cryptocurrency holds the promise of a financial system without a middleman, one owned by the people who use it and one safeguarded from the devastation of a 2008-type crash.
But bitcoin, the most famous of the cybermonies, carries a reputation for instability, wild fluctuation, and illicit business; some fear it has the power to eliminate jobs and to upend the concept of a nation-state. It implies, above all, monumental and wide-reaching change—for better and for worse. But it is here to stay, and you ignore it at your peril.
Vigna and Casey demystify cryptocurrency—its origins, its function, and what you need to know to navigate a cyber-economy. The digital currency world will look very different from the paper currency world; The Age of Cryptocurrency will teach you how to be ready.
“While many readers understandably have a hard time wrapping their heads around the concept of non-government-backed currency, journalists Casey (Che’s Afterlife) and Vigna, who blog about cryptocurrency at the Wall Street Journal’s Money Beat blog, here use their considerable expertise to make the Bitcoin phenomenon accessible. They take a thorough, multidisciplinary approach to the topic, including a fascinating examination of the origin of money. The authors are appropriately cautious, warning that despite increased public awareness of Bitcoin, it remains a niche product, and the jury is still out on how far and how quickly it and other digital currency will spread. However, newcomers will gain a better understanding of the revolutionary potential of digital currency, especially for the “roughly 2.5 billion people from Afghanistan to Africa to even America who have been shut out of the modern finance system.” And the explication of the non-currency applications of the concepts behind Bitcoin—such as tamper-proof records of verified information—will be valuable to any reader. Agent: Gillian McKenzie, Gillian McKenzie Agency. (Jan.)”

Reviewed by Robert Richardson in association with St Martins Press

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