Summary of Digital Gold

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Rating

9 Overall

9 Importance

8 Innovation

9 Style

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.

In this summary, you will learn

  • What Bitcoin is,
  • How Bitcoin developed, and
  • Why Bitcoin matters.
 

About the Author

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

 

Summary

Bitcoin’s Origins and Principles
Online chat rooms began mentioning Bitcoin in 2008. Some people who were active in chat rooms, including computer programmer Hal Finney, received emails from someone calling himself Satoshi Nakamoto. He described Bitcoin as “e-cash” – a completely electronic...

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    David Johnston 2 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.

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