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Digital Gold
Book

Digital Gold

Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money

Harper, 2015 more...

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Editorial Rating

9

Qualities

  • Innovative

Recommendation

New York Times reporter Nathaniel Popper offers up an inviting, necessary history. The concept behind Bitcoin – a completely electronic currency that isn’t backed by anything in the physical world – is intriguing. Its story is filled with pseudonyms, criminal activities, selfless dedication, incredible hubris, international travel, technological breakthroughs, and, of course, money. Bitcoin went from idea to reality in just a few years – and much of its development occurred inside underreported groups, like chat rooms and the libertarian community. Popper narrates this complex saga with ease and grace. getAbstract recommends his overview and its vivid personal portraits to those intrigued by Bitcoin, international finance, cyberculture, cybercrime, alternative cultures or libertarian thinking.

Take-Aways

  • A person identifying himself as Satoshi Nakamoto introduced the idea of Bitcoin in 2008.
  • Bitcoin is a completely electronic currency.
  • Being decentralized, it doesn’t depend on a single organization or individual.

About the Author

Nathaniel Popper is a business reporter for The New York Times.


Comment on this summary or Start Discussion

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    D. V. 6 years ago
    Interesting read on the roots of bitcoin.
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    D. J. 8 years ago
    At the end of 2013 and the start of 2014, papers from the Federal Reserve Board discussed using “blockchain technology” to make financial transactions safer.
    At a Goldman Sachs conference on virtual currency, a Goldman executive indicated that adapting blockchains to speed up financial transactions intrigued the firm.
    Blockchain technology seems to be the value here.