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The Age Of Cryptocurrency Review

Book Review: The Age Of Cryptocurrency By Paul Vigna And Michael J. Casey

Book Review: The Age Of Cryptocurrency By Paul Vigna And Michael J. Casey

Book Review: The Age of Cryptocurrency by Paul Vigna and Michael J. Casey Ive been writing about cryptocurrency for over a year now (not a long time, but a significant fraction of the total lifetime of the technology), and have toyed with the idea of putting together a book myself. For this reason, I was excited to see this book by Paul Vigna and Michael J. Casey (V&C hereafter). Bottom line: While this isnt precisely the book I would write, it is a very, very good book. This will be an essential reading for anyone wanting to actually understand the first few years of cryptocurrency. My own writing projects both easier and harder. I no longer have to explain all the basics, because V&C already have. But the bar for commentary is much higher now, because whatever I write has to add or at least fix what V&C have done. Overall, V&C have a rather positive view of cryptocurrency and bitcoin. In part, this reflects the fact that these Wall Street Journal writers have definite views on political economics, which plays out in numerous ways. The whole book should be read against the background of their statement of faith: All else being equal, technological disruption makes an economy more efficient and creates more wealth overall. (p.5) Inside, there are very good sections that explain the technical basics, and quite a bit of solid history of the people and organizations who have contributed to the age of cryptocurrency. They also give useful foundations for the major policy and legal issues which will play out in the next few years. One thing is very clear: they totally get the cultural aspect of cryptocurrencies which I have discussed frequently. In fact, much of what they discuss in the book is dead on. For example, they correctly cite Dogecoin as an important phenomenon, a Continue reading >>

Nonfiction Book Review: The Age Of Cryptocurrency: How Bitcoin And Digital Money Are Challenging The Global Economic Order By Paul Vigna And Michael J. Casey. St. Martins, $27.99 (304p) Isbn 978-1-250-06563-6

Nonfiction Book Review: The Age Of Cryptocurrency: How Bitcoin And Digital Money Are Challenging The Global Economic Order By Paul Vigna And Michael J. Casey. St. Martins, $27.99 (304p) Isbn 978-1-250-06563-6

While many readers understandably have a hard time wrapping their heads around the concept of non-government-backed currency, journalists Casey (Ches Afterlife) and Vigna, who blog about cryptocurrency at the Wall Street Journals MoneyBeat 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 Bitcoinsuch as tamper-proof records of verified informationwill be valuable to any reader. Agent: Gillian McKenzie, Gillian McKenzie Agency. (Jan.) Continue reading >>

Much More Than Digital Cash - Bitcoin

Much More Than Digital Cash - Bitcoin

BITCOIN may well be the worlds worst-performing currency. In 2014 it lost more than half of its value against the dollar, beating even Ukraines hryvnia and the Russian rouble. But measured by the number of new books it has inspired, bitcoin is top of the pile. Nearly 200 titles about the crypto-currency came out last year, according to Amazon. Another dozen will hit the shelves in the coming months. Be warned, though, some are pretty bad. Brian Kelly, an investment manager and talking head on CNBC, takes several stabs in The Bitcoin Big Bang at explaining how the crypto-currency works, only to confuse the reader with his odd metaphors: Lets call the first bitcoin a socialite named Genesis. Dominic Frisby is a comedian and a financial writer who in an earlier book outed himself as an anarcho-capitalist. In Bitcoin: The Future of Money? he suggests that bitcoin will change the world as we know it because governments will be unable to raise money for long wars if the currency is widely adopted. It is a force for peace, Mr Frisby insists. For any book on bitcoin to be worth reading, though, it has to delve further: into the crypto-currencys ideological and technical roots, for instance, or what it adds to the narrative of money, or even what its economic and political impact may be. The currencys dollar price may be three-quarters down on its peak, but the underlying technology also provides plenty of intellectual fodderand is unlikely to go away. So there is plenty to write about if you are serious. Paul Vigna and Michael Casey, two journalists at the Wall Street Journal, are certainly serious. In their new book, The Age of Cryptocurrency, they dont waste time projecting millenarian political beliefs or searching for bitcoins elusive creator, Satoshi Nakamoto, though they Continue reading >>

Must-read Books About Bitcoin

Must-read Books About Bitcoin

If the buzz around bitcoin has peaked your interest, you certainly aren't alone. Cryptocurrencies like bitcoin , ethereum and litecoin have all raised eyebrows with big gains in recent months including a dramatic spike in December when bitcoin briefly topped $19,000 trading on the Coinbase exchange and big drops like an 11 percent slump in bitcoin after the South Korean government announced plans for new regulation. Thursday morning, bitcoin was near $14,000 on the Coinbase exchange. Before you seriously consider storing wealth in a digital currency, investing expert and "Shark Tank" star Kevin O'Leary has words of caution: do some research . "You should never invest in something you don't understand," O'Leary tells CNBC Make It. To study up on where bitcoin and other cryptocurrencies came from, what they do and how they work, here are six books to get you started. Nathaniel Popper , a reporter at The New York Times who covers finance and technology, chronicles the history of the earliest bitcoin supporters in his 2015 book, including the stories of key players like the Winklevoss twins, Cameron and Tyler (who reportedly became the first " bitcoin billionaires " when the cryptocurrency's value breached $10,000 in November) and bitcoin's mysterious creator Satoshi Nakamoto. "Bitcoin may be a product of computer science, but it is a very human story. ... This highly entertaining history reminds us yet again that truth can be stranger than fiction," former Treasury Secretary Larry Summers says of the book. 2. "Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond" by Chris Burniske and Jack Tatar Chris Burniske, partner at crypto-focused venture capital firm Placeholder Capital , and Jack Tatar, a frequent author on personal finance, published a "how-to" gui Continue reading >>

Book Value: 'the Age Of Cryptocurrency'

Book Value: 'the Age Of Cryptocurrency'

In the past year hundreds of books were published on the cryptocurrency (which was the single worst-performing medium of exchange last year). Yet despite the media buzz and the wealth of private investment, most people dont know or care about bitcoin. The book that most convincingly argues why that could soon change is The Age of Cryptocurrency: How Bitcoin and Digital Money are Challenging the Global Economic Order by Wall Street Journal reporters Paul Vigna and Michael Casey. They begin with the story of a young woman in Afghanistan with no bank account. Shes able to receive payment instantly and securely for the work she does for a U.S. film blog using the e-currency. It cuts out the middleman; gone is the typical two-day bank delay in processing. (Never mind that the value of her payment is subject to change abruptly.) An anonymous, peer-to-peer, unregulated network for payments may sound scary to some. But the potential it has to ease the exchange of any kind of value (the block chain, bitcoins public ledger, can support a variety of decentralized applications, such as secure storage of documents) is exciting. And it is beginning to interest not just the early group that Vigna and Casey aptly describe as, a small, fiercely dedicated band of tech-minded, libertarian-leaning digital utopians. As Vigna and Casey know all too well, their book is hardly first to the market. But they have produced more than a bitcoin 101: theirs is a smarter, more holistic take on not just bitcoin, but the potential of all digital currencies to change the way we send each other money. In fact, it goes deeper than the average mildly interested reader likely cares to dig (the book gets a little bogged down in an exploration of the crash of bitcoin exchange Mt. Gox). But for those on the o Continue reading >>

The Age Of Cryptocurrency: How Bitcoin And The Blockchain Are Challenging The Global Economic Order

The Age Of Cryptocurrency: How Bitcoin And The Blockchain Are Challenging The Global Economic Order

03/25/2016 01:38 pm ETUpdatedDec 06, 2017 The Age of Cryptocurrency: How Bitcoin and the Blockchain Are Challenging the Global Economic Order The eye has never seen, nor the hand touched a dollar. For any currency to be viable, be it a decentralized cryptocurrency issued by a computer program or a traditional "fiat" currency issued by a government, it must win the trust of the community using it. For cryptocurrency advocates, as we'll learn in the chapters ahead, the whole point is to offer an alternative model for that trust. They tout a system of payments in which the payee no longer has to trust "third-party" institutions such as banks or governments to assure that the payer can deliver the agreed-upon funds. Instead, cryptocurrency systems imbue trust in an inviolable, decentralized computer program that is, in theory, incapable of defrauding people. None of this, however, gets cryptocurrencies off the hook. They, too, must win people's trust if they are to become relevant. Trust is at the core of any system of money. For it to work, people must feel confident that a currency will be held in the right esteem by others. So before we get into bitcoin's dramatic arrival on the scene and its bid to change the way we think about such things, we need to explore that notion of trust in more depth as it has evolved through history. This chapter will takes us on a journey through the evolution of money, one of society's most remarkable yet poorly understood inventions. Let's start with some basic questions. What is money? What does it represent? How did society come to develop such a system for exchanging goods and measuring their value? As is the case in any field of study, figuring out how something functions is often best approached by examining cases where the system ha Continue reading >>

Book Review: The Age Of Cryptocurrency

Book Review: The Age Of Cryptocurrency

Business Opportunities and Challenges in Emerging Markets On my trip to Singapore two weeks ago I read through a new book The Age of Cryptocurrency , written by Michael Casey and Paul Vigna two journalists with The Wall Street Journal. Lets start with the good. I think Chapter 2 is probably the best chapter in the book and the information mid-chapter is some of the best historical look on the topic of previous electronic currency initiatives. I also think their writing style is quite good. Sentences and ideas flow without any sharp disconnects. They also have a number of endnotes in the back for in-depth reading on certain sub-topics. In this review I look at each chapter and provide some counterpoints to a number of the claims made. [Note: I manually typed the quotes from the book, all transcription errors are my own and should not reflect on the book itself.] The book starts by discussing a company now called bitLanders which pays content creators in bitcoin. The authors introduce us to Francesco Rulli who pays his bloggers in bitcoin and tries to forbid them from cashing out in fiat, so that they create a circular flow of income. 1 One blogger they focus on is Parisa Ahmadi , a young Afghani woman who lacks access to the payment channels and platforms that we take for granted. It is a nice feel good story that hits all the high notes. Unfortunately the experience that individuals like Ahmadi, are not fully reflective of what takes place in practice (and this is not the fault of bitLanders). For instance, the authors state on p. 2 that: 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 youre a man. This is untrue Continue reading >>

The Age Of Cryptocurrency: How Bitcoin And The Blockchain Are Challenging The Global Economic Order

The Age Of Cryptocurrency: How Bitcoin And The Blockchain Are Challenging The Global Economic Order

Book Graph Holiday Gift Guide B&N SmartGift Discover Categories B&N Classics B&N Exclusives B&N Top 100 B&N Stores' Bestsellers Books by Author Books by Series Collectible Editions Coming Soon by Date Coming Soon by Subject New Releases NY Times Bestsellers Signed Books Top Books of the Month Biography Business Cookbooks, Food & Wine Diet, Health & Fitness Fiction Graphic Novels & Comics History Mystery & Crime Religion Romance Science Fiction & Fantasy Self-Help & Relationships See More > Audiobooks Bargain Books B&N Readouts Book Awards Calendars Coupons & Deals Large Print Libros en espaol The Paperback Store Self-Publish with NOOK Press SparkNotes Textbooks MICHAEL J. CASEY writes for The Wall Street Journal, covering global finance in his "Horizons" column. He is a frequent contributor to the Journal's MoneyBeat blog and co-authors the daily "BitBeat" with Paul Vigna. He is the host of the book-themed video series "WSJ Afterword" and a frequent guest on and host of "The News Hub" and "MoneyBeat." His podcast on world economic affairs is forthcoming. Casey has written for such publications as Foreign Policy, The Washington Post, and The Financial Times. He is the author of two books: Che's Afterlife: The Legacy of an Image (Vintage, 2009), one of Michiko Kakutani's "best books of 2009," and The Unfair Trade: How Our Broken Financial System Destroys the Middle Class (Crown, 2012). PAUL VIGNA is a markets reporter for The Wall Street Journal, covering equities and the economy. He is a columnist and anchor for MoneyBeat. Previously a writer and editor of the MarketTalk column in DowJones Newswires, he has been a guest on the Fox Business Network, CNN, the BBC, and the John Batchelor radio show. He has been interviewed by Bitcoin magazine and appeared on the Bitcoins & Continue reading >>

The Age Of Cryptocurrency : How Bitcoin And Digital Money Are Challenging The Global Economic Order

The Age Of Cryptocurrency : How Bitcoin And Digital Money Are Challenging The Global Economic Order

The age of cryptocurrency : how Bitcoin and digital money are challenging the global economic order New York, N.Y. : St. Martin's Press, 2015. "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? 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"-- Digital cash for a digital age -- From Babylon to Bitcoin -- Genesis -- Community -- Roller coaster -- The arms race -- Satoshi's mill -- The unbanked -- The everything blockchain -- Square peg meet Continue reading >>

The Age Of Cryptocurrency: How Bitcoin And Digital Money Are Challenging The Global Economic Order

The Age Of Cryptocurrency: How Bitcoin And Digital Money Are Challenging The Global Economic Order

This is a tremendous introduction to Bitcoin. If you are not technically minded, it's as good as you could possibly hope for. On the other hand, if you are a bit of a technophile, perhaps you may want to look for the fine detail somewhere else. First comes all the necessary background. You get a thorough introduction on what money is, or rather what it is that that turns something into money, you get an introduction to the biosphere out of which Bitcoin sprung, including a long list of its predece This is a tremendous introduction to Bitcoin. If you are not technically minded, it's as good as you could possibly hope for. On the other hand, if you are a bit of a technophile, perhaps you may want to look for the fine detail somewhere else. First comes all the necessary background. You get a thorough introduction on what money is, or rather what it is that that turns something into money, you get an introduction to the biosphere out of which Bitcoin sprung, including a long list of its predecessors, and that part of the book is rounded up by a brief history of the "genesis" of Bitcoin itself. Next comes an explanation of the Blockchain. Problem #1 with digital money is "how do I know this money is good money" and problem #2 is "how do I know that you are not presenting this good money twice at the same time to make two purchases." The Blockchain is a technology that puts together four pre-existing technologies in an inventive way, to incentivise independent agents to solve these two problems: Feel free to skip if you know / to set me right if I've understood it wrong -it's not all there in the book and I've had to fill in the blanks myself by spending time on the Internet This is a fantastic new way to write coded messages. The simplest one, RSA, works out as follows: 1. Continue reading >>

Book Review: The Age Of Cryptocurrency How Bitcoin And The Blockchain Are Challenging The Global Economic Order

Book Review: The Age Of Cryptocurrency How Bitcoin And The Blockchain Are Challenging The Global Economic Order

Book review: The Age of Cryptocurrency How bitcoin and the blockchain are challenging the global economic order The Age of Cryptocurrency How bitcoin and the blockchain are challenging the global economic order, Paul Vigna and Michael J. Casey, Picador, 2014 (with a revised afterword in 2016). In The Age of Cryptocurrency, financial journalists Vigna and Casey cover a lot of ground, explaining some of the use cases and the technical underpinnings of cryptocurrencies and blockchain. This book is a good read if you are new to the topic. It is also a good resource for people who have more experience buying, selling, and trading cryptocurrencies, but it challenging to explain how they work. For me, this book felt less character-driven than Digital Gold Bitcoin and the inside story of the misfits and millionaires trying to reinvent money (although the authors do mention many of the same names that are well-known in bitcoin circles), but it was heavier on the technical details of how the systems work. The technical parts were approachable, and I imagine Ill re-read certain parts and descriptions as reference material in the future. As they are introducing the book, the authors write about how the publics general knowledge of bitcoin is often limited to mainstream media reports, or its affiliation with drug dealers, or how its crazy price swings make it look like a bubble. They write: All of these elements of the circus sideshow that has arisen around bitcoin are both colorful and important to understanding its story. But to dismiss it as a con because of them is to turn your back on something that may well change your life. Bitcoin is a groundbreaking digital technology with the potential to radically change the way we conduct banking and commerce, and to bring billions of p Continue reading >>

Listen To The Age Of Cryptocurrency - Audiobook | Audible.com

Listen To The Age Of Cryptocurrency - Audiobook | Audible.com

By confirming your purchase, you agree to Audible's Conditions of Use and Amazon's Privacy Notice . Taxes where applicable. 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 truly to understand what it is. This raises the question: Why should anyone care about bitcoin? In The Age of Cryptocurrency, Wall Street journalists Paul Vigna and Michael J. Casey deliver the definitive answer to this question. Cyber money 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 cyber monies, 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. 2015 Paul Vigna and Michael J. Casey (P)2015 Gildan Media LLC "The Age of Cryptocurrency not only demystifies and explains bitcoin, but also shows where it fits into the cultural zeitgeist and where it's pointed, and wha Continue reading >>

The Age Of Cryptocurrency

The Age Of Cryptocurrency

How Bitcoin and the Blockchain Are Challenging the Global Economic Order 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? 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 changefor better and for worse. But it is here to stay, and you ignore it at your peril. Vigna and Casey demystify cryptocurrencyits 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. The eye has never seen, nor the hand touched a dollar. Authors at Google | The Age of Cryptocurrency | Paul Vigna, Michael. Casey A cyber-phenomenon that became a buzzword virtually overnight, Bitcoin constantly makes headlines, fueling endless media debate over its viability. Continue reading >>

'the Age Of Cryptocurrency' Recorded On Bitcoin Blockchain

'the Age Of Cryptocurrency' Recorded On Bitcoin Blockchain

The Age of Cryptocurrency Recorded on Blockchain The Age of CryptoCurrency,the recently released book by Wall Street Journal reporter Paul Vigna and senior columnist Michael J Casey, has been permanently recorded on bitcoins public ledger, the blockchain. The book is the first by a major publisher with its exposure and interest to have a time-stamped digest recorded in the blockchain, actively demonstrating the technology beyond just the subject of the book. Digital Currency Council (DCC) director of curriculum Dan McArdle copied the book into Block 341705 using the firms Blockchain Recordation Toolbox, which allows DCC professionals access to blockchain recordkeeping for clients. The process used open source platform Proof of Existence. This hash is unique to the book, and therefore could not have been generated before the book existed. By embedding this hash in a bitcoin transaction, the existence of the book on that transaction date is logged in the most secure and irrefutable recordkeeping system humanity has ever devised. Vigna and Casey received a certificate representative of blockchain recordation process. The record is now fully transparent on the blockchain . The process was confirmed in under an hour. The Age of CryptoCurrency can be purchased with bitcoin on Overstock . Continue reading >>

The Age Of Cryptocurrency, By Paul Vigna And Michael J. Casey

The Age Of Cryptocurrency, By Paul Vigna And Michael J. Casey

Sunday Book Review |The Age of Cryptocurrency, by Paul Vigna and Michael J. Casey The Age of Cryptocurrency, by Paul Vigna and Michael J. Casey Money, The Age of Cryptocurrency explains, is a medium of exchange, a unit of account and a store of value. But for Schopenhauer it was human happiness in the abstract, and for Dostoyevsky coined liberty. These passion metaphors reflect the febrile excitement about Bitcoin that Paul Vigna and Michael J. Casey, both of The Wall Street Journal, share in their wide-ranging, interesting account of the origin, past and possible future of this virtual-money wannabe. Money was traditionally viewed as a tangible commodity (like gold) or an i.o.u. token of trust for settling debts. Then, out of the blue in 2008, the pseudonymous Satoshi Nakamoto created Bitcoin, the name of both the digital Internet currency and its software infrastructure. Cryptocurrency devotes detailed, anecdote-filled chapters to the genesis and reception of Bitcoin. Its political origin lay in the 1990s anarcho-libertarian community of the Cypherpunks, cryptographers who developed software to preserve privacy in the face of snooping Big Brother governments and corporations. How does a purchase with Bitcoin work? Think first about what happens when you pay cash: You can spend a dollar bill once only, the transaction is anonymous, and involves no fee. Now, the book explains, think about using a debit or credit card: No actual dollars change hands, but the bank, a central authority, knows what youve bought and from whom, adjusts your balance to prevent double spending and charges a transfer fee. Bitcoin software ingeniously mimics cash. It allows anyone to transfer Bitcoins to anyone else securely, anonymously and directly preventing double spending, and avoiding the Continue reading >>

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