Joined in 2023 
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63 About this deal
It’s an idiosyncratic journalistic beat, just as Attack winds up a fairly idiosyncratic book (the final chapter, ‘Case Study: Why you can’t put the music industry on a blockchain’ feels like it’s largely there based on the author’s wider interests, though it does have a spectacular Imogen Heap anecdote). It would be among the funniest books I ever read if its contents weren't a harbinger of an even worse techbro dystopia that's right around the corner. org is a corporate open source Potemkin village of the sort IBM has long favoured: the illusion of an open project, with no “there” there. Which is that while it draws upon fundamentally good ideas (decentralised, peer-to-peer microtransactions without the oversight of Big Brother), it is, in its current form, nothing but a giant grift/ponzi scheme that uses the guise of code supremacy. The implicit promise of cyberlibertarianism was the dot-com era promise that you could make it big from a startup company’s Initial Public Offering: build something new and useful, suddenly get rich from it.
Right-libertarians and ancaps will hate it, either because it punctures their fantasies or risks scaring off the marks they're hoping to fleece. The Bitcoin address is mentioned in transactions on the blockchain; the key is the unique thing you have that makes your bitcoins yours.However, the final few months of the year produced large rises, and larger volatility, in Bitcoin and other cryptocurrencies. Some of those people have become rich, without really having created any social value, and even more people have become even more rich through countless thefts and scams. It seems the author is well versed in the crypto currency ecosystem and has aggregated several articles into one book.
Having been tracking Blockchain professionally I can confirm that this is all correct and the appropriate advice. Was der Autor hier und auf seinem Blog schreibt, hab ich in dieser Qualität und Tiefe noch nirgends gefunden. This book is a good look at some of the weirdest things about Bitcoin, Ethereum and the nebulous "blockchain technologies", and offers a decent enough look on what exactly is wrong with Bitcoin and why it really shouldn't be used for anything substantial and why some people insist on doing so.Even though the book gave me new insights and informed me about some of the history of Bitcoin, it is drained in sarcasm (did make me lol at times). True story: at this year’s Edinburgh Science Festival I went to a lecture on why blockchains were the future. I don't recommend this book as it has a few bad examples of the crypto communities that happened a long long time ago. Everyone that is hyped about this technology should read this book to get his excitement levels back to normal. But for all the strangeness of his subject matter, Gerard remains resolutely committed to the common sense aesthetic, and it’s one the world of blockchain sorely needs.
The author, David Gerard seems to have some type of agenda against cryptocurrencies at the book's surface; although his criticisms are well cited and quite logical. Byzantine quorum system of size 20 could achieve better decentralization than proof-of-work mining at a much lower resource cost. If you, like me, sometimes feel like a crazy person for telling your friends this whole crypto thing MIGHT be complete nonsense, and that its advantages are not at all what people think they are - then here's the book for you. Sadly for Bitcoin, most Austrian economists aren’t fans – even as Bitcoiners remain huge fans of Austrian economics.It adds a necessary balance to all the plethora of positive literature about the future of bit-coins,ethereum etc. I think many of them will look back after the crash and wish they could erase every single post and Tweet they ever typed about bitcoin.
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