Tag Archives: cryptocurrencies

Books, Crypto, Entertainment, Finance, Observation

The Best Books on Cryptocurrency

Above:Photo Credit / Krzysztof Kowalik on Unsplash

So much is going on in the area of Crypto-currencies, Blockchain, Alt Coins, and Decentralized Finance (DeFi) that it can make your head spin. And that is not to even mention Crypto Mining, Farming, Baking and Trading, all of which have had skyrocketing activity recently.

How much interest there is runs the gamut from the curious onlooker to the serious professional. And then there are predictions regarding the future of the world financial system, the political and legal ramifications of the rise of crypto and all the opinions going every which way, and more.

Based on all of the above it only makes sense to put together a list of fundamental ground floor guidebooks to help anyone who wants and needs to really understand what all the fuss is about. Bitcoin and the whole area of blockchain technology has come so far already, and is so established and entrenched that it is unlikely to disappear completely anytime soon, no matter which way the political winds may blow.

So if you are a beginner an intermediate or even advanced learner that wants to know more, these are the best books to really dig into the phenomena and explosion of information and viewpoints. To make it easier they are featured front and center, below, along with descriptions, provided courtesy of the Bookshop (and the various publishers), and with some links for a variety of options of where to purchase.

Mastering Blockchain – Third Edition: A deep dive into distributed ledgers, consensus protocols, smart contracts, DApps, cryptocurrencies

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Blockchain technology is the backbone of cryptocurrencies, and it has applications in finance, government, media, and many other industries. With a legacy of providing technologists with executable insights, the third edition of Mastering Blockchain is thoroughly revised and updated with the latest blockchain research, including four new chapters on consensus algorithms, Serenity (Ethereum 2.0), tokenization, and enterprise blockchains.

Apart from covering the basics, including blockchain’s technical underpinnings, cryptography, and consensus protocols, this book provides you with expert knowledge on decentralization, decentralized application development on Ethereum, Bitcoin, alternative coins, smart contracts, alternative blockchains, and Hyperledger.

Furthermore, you will explore how to implement blockchain solutions beyond cryptocurrencies, such as the Internet of Things with blockchain, blockchain scalability, enterprise blockchains, and tokenization using blockchain, and the future scope of this fascinating and disruptive technology.

By the end of this book, you will have gained a thorough understanding of the various facets of blockchain technology and be comfortable applying them to diverse real-world scenarios.

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Key Features

  • Updated with four new chapters on consensus algorithms, Ethereum 2.0, tokenization, and enterprise blockchains
  • Dive deep into foundational pillars of blockchain technology such as decentralization, cryptography, and consensus protocols
  • Get to grips with Solidity, Web3, cryptocurrencies, smart contract development and solve scalability, security, and privacy issues
  • Discover the architecture of different distributed ledger platforms including Ethereum, Bitcoin, Hyperledger Fabric, Hyperledger Sawtooth, Corda, and Quorum

Cryptocurrency, Bitcoin, Blockchain Technology& Altcoins For Beginners: Explore The Decentralized World, Investing in Crypto Blueprint, Mining Basics+

Buy at Bookshop

Do you want to understand what Bitcoin & Cryptocurrency actually is? Do you want to understand how it could change the world & finance industry FOREVER? Do you want to discover how you can get started investing in Crypto TODAY?

By now we’ve all heard of it, yet few of us understand it, and without understanding it how could you even dream of investing in it?

You hear all the tech ‘bros’ talking about it, you hear the media slandering it, you can see the bankers are scared by it’s potential, but you still don’t quite get the fuss.

Don’t worry, we’ve all been there.

But, luckily, this book has been written for people just like you.

The purpose of it is to demystify the world of Bitcoin, Cryptocurrency, Decentralization & The Blockchain.

And, if those 4 words currently sound like a foreign language to you, you’re not alone. But, after this book, you’ll be the one explaining about the ‘Crypto Craze’ to everyone you see!

Inside, we will go over the origins & history of Bitcoin, it’s potential to change the world, as well as how it could all go wrong.

And, of course, we will go over how you can invest in potentially the greatest wealth transfer the world has ever seen.

Here’s a tiny Example of what’s inside..

  • Exactly What Bitcoin Actually Is And How It Is Drastically Disrupting The Global Economy 
  • Everything You Need To Know About The ‘Bitcoin Halving’ Cycles & How To Maximize Your Gains From Them
  • What Is A ‘Blockchain’ And How It Could Quite Literally Revolutionize EVERY Aspect Of Your Life In The Coming Decades
  • What Are ‘Altcoins’ And How They Are Different To Bitcoin & What Their Purpose In All Of This Is…
  • Why We Are Still In The VERY Early Days Of The Crypto ‘Boom’

And SO Much More!

So, If You Want To FINALLY Understand The World Of Bitcoin & Cryptocurrency So You Can Actually Understand What All The Fuss Is About And Whether You Want To Get Involved, Then Scroll Up And Click

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Infinite Powers: How Calculus Reveals the Secrets of the Universe

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From preeminent math personality and author of The Joy of x, a brilliant and endlessly appealing explanation of calculus–how it works and why it makes our lives immeasurably better.

Without calculus, we wouldn’t have cell phones, TV, GPS, or ultrasound. We wouldn’t have unraveled DNA or discovered Neptune or figured out how to put 5,000 songs in your pocket.

Though many of us were scared away from this essential, engrossing subject in high school and college, Steven Strogatz’s brilliantly creative, down-to-earth history shows that calculus is not about complexity; it’s about simplicity. It harnesses an unreal number–infinity–to tackle real-world problems, breaking them down into easier ones and then reassembling the answers into solutions that feel miraculous.

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Infinite Powers recounts how calculus tantalized and thrilled its inventors, starting with its first glimmers in ancient Greece and bringing us right up to the discovery of gravitational waves (a phenomenon predicted by calculus). Strogatz reveals how this form of math rose to the challenges of each age: how to determine the area of a circle with only sand and a stick; how to explain why Mars goes “backwards” sometimes; how to make electricity with magnets; how to ensure your rocket doesn’t miss the moon; how to turn the tide in the fight against AIDS.

As Strogatz proves, calculus is truly the language of the universe. By unveiling the principles of that language, Infinite Powers makes us marvel at the world anew.

The Bitcoin Standard: The Decentralized Alternative to Central Banking

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When a pseudonymous programmer introduced “a new electronic cash system that’s fully peer-to-peer, with no trusted third party” to a small online mailing list in 2008, very few paid attention. Ten years later, and against all odds, this upstart autonomous decentralized software offers an unstoppable and globally-accessible hard money alternative to modern central banks. The Bitcoin Standard analyzes the historical context to the rise of Bitcoin, the economic properties that have allowed it to grow quickly, and its likely economic, political, and social implications.

While Bitcoin is a new invention of the digital age, the problem it purports to solve is as old as human society itself: transferring value across time and space. Ammous takes the reader on an engaging journey through the history of technologies performing the functions of money, from primitive systems of trading limestones and seashells, to metals, coins, the gold standard, and modern government debt. Exploring what gave these technologies their monetary role, and how most lost it, provides the reader with a good idea of what makes for sound money, and sets the stage for an economic discussion of its consequences for individual and societal future-orientation, capital accumulation, trade, peace, culture, and art. Compellingly, Ammous shows that it is no coincidence that the loftiest achievements of humanity have come in societies enjoying the benefits of sound monetary regimes, nor is it coincidental that monetary collapse has usually accompanied civilizational collapse.

With this background in place, the book moves on to explain the operation of Bitcoin in a functional and intuitive way. Bitcoin is a decentralized, distributed piece of software that converts electricity and processing power into indisputably accurate records, thus allowing its users to utilize the Internet to perform the traditional functions of money without having to rely on, or trust, any authorities or infrastructure in the physical world. Bitcoin is thus best understood as the first successfully implemented form of digital cash and digital hard money. With an automated and perfectly predictable monetary policy, and the ability to perform final settlement of large sums across the world in a matter of minutes, Bitcoin’s real competitive edge might just be as a store of value and network for final settlement of large payments–a digital form of gold with a built-in settlement infrastructure.

Ammous’ firm grasp of the technological possibilities as well as the historical realities of monetary evolution provides for a fascinating exploration of the ramifications of voluntary free market money. As it challenges the most sacred of government monopolies, Bitcoin shifts the pendulum of sovereignty away from governments in favor of individuals, offering us the tantalizing possibility of a world where money is fully extricated from politics and unrestrained by borders.

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Breaking News, Crypto, Finance

China Central Bank declares Bitcoin & all crypto transactions illegal

China is at the forefront of government opposition to cryptocurrencies

The central bank of China stated as a declaration that all transactions involving Bitcoin and any “virtual” currencies illegal, according to the AP.

This seems to be an escalation of the various methods being used to block and prohibit the use of any currency or “money” outside the direct control of the Chinese government.

In a notice released by the central bank the reasoning was elaborated on – stating that digital currencies such as Bitcoin, Ethereum and others disrupt the current financial system and encourage and help facilitate money-laundering and other crimes.

“Virtual currency derivative transactions are all illegal financial activities and are strictly prohibited,”

–the People’s Bank of China

The price of Bitcoin fell, to $41,180, in the hours after the announcement. Other major cryptocurrencies also fell. . Ethereum dropped almost 10%, falling from $3,100 to around $2,758.

Those levels appeared to be a short term low as there has been a recovery bounce since the initial reaction selloff.

China is gearing up for it’s own ‘innovations’ involving digital currencies and transactions

This clampdown follows the banning of Bitcoin mining and an exodus of a large number of Chinese mining operations, many relocating to the US, Europe, Southeast Asia and elsewhere. At the peak, Chinese miners accounted for around 3/4 of the world’s electricity consumption related to crypto mining, according to the Cambridge Bitcoin Electricity Consumption index.

That share is still the highest, though far lower, with the USA being the second largest consumer of electricity used for Bitcoin mining.

There is a worldwide “showdown” of sorts building, with cryptocurrency adherents touting, often with great resolve, the privacy, anonymity and “freedom” of using the coins, while many governments, China, and Turkey being outspoken, consider the potential losses that could come from allowing private actors to control financial transactions.

Although fiat currencies all have cash, paper bills, that can also be used anonymously, the potential criminal laundering has government controls and laws in place to minimize (or at least attempt to minimize) the magnitude of the problem.

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Governments getting increasingly worried as crypto adoption continues to expand worldwide

Many governments, including the People’s Bank of China, are developing electronic versions of the local fiat currency, such as China’s yuan for example. to facilitate cashless transactions which, unlike with Bitcoin, can be more easily tracked and controlled by the local authorities, communist or otherwise.

Calls and warning are also building with Regulators in many countries, including the US, warning of the dangers and emphasizing that they want cryptocurrencies to have greater oversight.

For example, Gary Gensler, chairman of the Securities and Exchange Commission, recently said that investors need more protection in the cryptocurrency market, calling the current state of the largely unregulated market “rife with fraud, scams and abuse” and compared it to the “Wild West.”

The SEC has already cracked down on cases of alleged freud involving crypto, but Gensler believes that the agency will need more authority from Congress to and funding to adequately regulate the market..

As a result, miners have been moving operations out of China.

Two years ago, China alone accounted for around three-quarters of all the electricity used for crypto mining, by far the most in the world, according to the Cambridge Bitcoin Electricity Consumption index.

Expect more government announcements involving crypto and new ways to try to control or inhibit its proliferation

The looming showdown appears heading for a significant and dangerous climax, with both sides, crypto enthusiasts and private holders and users of the coins on the one side, and, in some cases, terrified governments on the other wanting to outlaw and stamp out the entire sector.

In the US this will be difficult, with so many high profile and powerful individuals and companies already embracing the idea that the future will contain, at least for the foreseeable time frame, both the government controlled fiat system and the surging and diverse cryptocurrency systems.

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Breaking News, Crypto

Crypto Crash on Bitcoin Day knocks $420 Billion off at Dip

Above: Photo by Michael Krahn on Unsplash with elements added by Lynxotic

Coming after a frenzied run-up the hand wringing is no surprise

On the big El Salvador day for Bitcoin to go live, for the first time as legal tender, naturally there were glitches. And the predictions for crypto in general and Bitcoin in particular to surge on the news were, backwards.

The longstanding stock market adage “buy on rumor, sell on news” once more proved itself as what is now being called a “crypto flash crash” knocked around $400 billion off the market cap of the previous 24 hour period, or almost 12%, as per CoinMarketCap at the time of this writing.

The president of El Salvador announced that his government used the dip to buy an additional 150 Bitcoin, above the 400 he had announced on the previous day, bringing the total to 550.

From CoinMarketCap:The global crypto market cap is $2.07T, a 11.91% decrease over the last day

  • The total crypto market volume over the last 24 hours is $227.12B, which makes a 66.15%increase. 
  • The total volume in DeFi is currently $30.41B, 13.39% of the total crypto market 24-hour volume. 
  • The volume of all stable coins is now $179.83B, which is 79.18% of the total crypto market 24-hour volume.
  • Bitcoin’s price is currently $46,893.62.
  • Bitcoin’s dominance is currently 42.55%, an increase of 1.17% over the day.

By 3:30 PM ET on Tuesday Bitcoin bounced back, the “discount” ended, for now, and recovered to around $47,000 after dipping to $42,870. The recent highroad been $52,732, with the all time high from April still intact above $63,000.

I many ways it seems as if Bitcoin and Cryptocurrencies appeared suddenly in 2021 out of the head of Zeus. Protean and fully formed, with billions and trillions in market caps, and all your sisters, brothers, cousins and even the Uber driver climbing aboard.

And the FOMO blog posts, where every hour an innocent reader is assaulted by a story, perhaps true, perhaps exaggerated and certainly foolhardy in retrospect, of an innocent putting their life savings into Dogecoin and suddenly having, theoretically, huge gains at their disposal.

Meanwhile, craggy faced, ancient stock market mavens would interject famous last words that now appear to be wise. However, all that notwithstanding, this week’s crash is nothing new or unexpected.

In reality, as can be seen from the graphic below, provided by Visual Capitalist, there have been so may crashes / corrections and doomsday prognostications since 2012 in Bitcoin that it seems like a miracle the there’s any thing such as Crypto at all.

There’s a reason it’s not dead and it’s in the DNA

The resiliency, far from a shock to those that have been around more than a fortnight, is kinda the point. When Satoshi Nakamoto built the system architecture of Bitcoin and since then inspired the over 8000 new crypto entities that have been developed, it was, just like the internet itself that was build to survive WWIII, supposed to be as indestructible as possible.

Like physical gold, which is considered have been adopted as a store of value partly due to its indestructibility and immutability (alchemy notwithstanding) the volatility and sometimes violent-seeming life story of Bitcoin is a necessary adjust to its role in finance, commerce and even individual monetary survival.

Not for the faint of heart, perhaps

While the mainstream and those forces opposed to the adoption or survival of Bitcoin and Crypto are out in force pointing to the “unsuitability” of Bitcoin and other cryptocurrencies for any “legitimate” use as a trade or savings vehicle, the progress so far, in spite of the obvious fact that volatility has always been baked in to the situation, is an obvious refutation of that viewpoint.

Will the current drop in dollar values relative to Bitcoin end it’s popularity and strip it of the respect it has thusfrar earned among many? In a word, no. In essence what is happening is, as many have foretold, what happens often and repeatedly, the excess attention and dollars that were pumped into crypto by you brother, sister, cousin and Uber driver are now getting blown out, since those were more speculation and psychosis than any kind of vote for viability or permanency.

And, why not? Where was to concern, shock and hesitation by the masses when the prices seemed to only rise for weeks and even months across so many products and coins it was impossible to keep count? Why was to feeding frenzy and the mania-like piling on not ignored as an anomaly?

The herd does as the herd will do. Diamond hands and Paper hands will ebb and flow as long as the rivers flow to the sea and humans herd like buffalo. And, in all likelihood, dollars and euros and yen will be long forgotten when the last bitcoin is transferred to the final wallet in the sky.

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Breaking News, Business, Crypto, Observation

Bitcoin Nation? El Salvador is first to make it Legal Tender

El Salvador has officially legalized bitcoin as legal tender (alongside the U.S. dollar which is the country’s current national currency) starting today; September 7, 2021.

The day before the big day, President Nayib Bukele announced El Salvador had purchased 200 Bitcoins and later in the day confirmed that “we now hold 400 bitcoins”.  Given the current market prices, the country’s recent bitcoin purchases amount to roughly $20.8 million.  

In June this year, El Salvador’s Congress voted 62 out of 84 votes to establish the crypto coin as legal tender. This will make the small country is Central America the first in the world to recognize bitcoin as an official form of currency.

In a subsequent tweet Bukele’s translated tweet said 

Like all innovation, the process of #Bitcoin in El Salvador it has a learning curve. Every road to the future is like this and not everything will be achieved in a day, or in a month.

 But we must break the paradigms of the past. El Salvador has the right to advance towards the first world.

-President of El Salvador – Nayib Bukele

Bitcoin climbed nearly 2% to more than $52,680 as of Sept 6, and according to a market analyst with Reuters the cryptocurrency is on track to reach $56,000.

Salvadorians will now have the ability to use the digital coin in exchange for goods and services, and as an accepted form of tax payments by the government. Bitcoin is actually the second legal tender in El Salvador, with the US Dollar also having that status since 2001.

Upon its adoption, users who register with the country’s government supported Bitcoin wallet called Chivo will be awarded with $30 worth of currency pre-loaded (must have a Salvadorian national ID number). 

The overall impetus for legalizing bitcoin officially is, according to experts, that savings that will be possible for citizens to receive remittances – transfers, until now in US dollars, without intermediaries and the large fees they charge for international transfers.

Remittances account for more than 20% of GDP for El Salvador – mainly in the form of dollars sent by the approximately 1.5 million ex-patriots living abroad and wiring payments to families in El Salvador.

Western Union, for example, handles these transactions and charges a hefty fee. And those fees would represent a percentage (for small remittances up to 10%) of $5.9 Billion per year that flows into the small country from abroad, mostly from the United Stated, according to World Bank data.

Although there has been a lot of political rhetoric and expressions of opinion against the move, such an obvious adversary as the international wire transfer interests, like Western Union, and the large income from fees that may begin to dry up starting today, could easily explain at least a portion of the well represented opposition opinion.

That being said, the now famous price swings of Bitcoin do represent a real risk for people hoping to transfer directly into the country. Another risk is losing the coin due to lack of experience handling a digital currency, by people who are more likely to know the feel of paper dollars than digital screens, cryptocurrency exchanges and virtual wallets.

For observers, both crypto adherents and detractors, this is a very important opportunity to see what kinds of practical obstacles will arise and what benefits are realized by the El Salvadoran people.

It is also a kind of warning to those in governments, including in the U.S., that hope to stop Bitcoin’s seemingly inexorable rise, and to prevent what they perceive as threats to the public, and perhaps, to the U.S. dollar’s previously unchallenged hegemony.

The news that 400 Bitcoins were purchased by El Salvador was, naturally seen as a positive by the Bitcoin trading community, and there has been speculation of further pricing strength likely continuing going forward.

On the utopian dream side, various experiments have recently been announced related to Bitcoin and crypto. For example, in El Salvador there are emerging plans to make Bitcoin mining a state run operation with power being supplied by geothermal energy drawn from the country’s volcanos. How’s that for cheap, renewable resources?

A town in the U.S., fittingly called Cool Valley, MO has a mayor who recently announced that the city government is considering making payments to all residents of 1000 in Bitcoin. In this case, the idea behind the plan is to give citizens a crypto nest-egg, and the holders would be barred from selling, with the hope that, in the event the currency continues its exponential climb, the residents would benefit from holding it as an appreciating capital asset.

Which leads to the observation that, over the last few years, a fog of confusion appears to hang above the media regarding coverage of cryptocurrencies.

Price speculation is off the charts and there’s a kind of mania afoot. But the biggest confusion seems to come from one simple truth, that the U.S. dollar has gone only in one direction for more than 100 years, since the Federal Reserve was established in December 1913, down.

Against any measure of buying power for goods and services the dollar is continuously worth less, far less, on a yearly basis.

Although many headlines scream “Crypto and Bitcoin are Worthless” the same could be said of the U.S. dollar, in relative terms, against a basket of goods and services which is the traditional measure of “inflation” and against other assets, for example, now that Bitcoin provides a second measuring tool, dollars are worth less over time against bitcoin.

With prominent people and companies around the world and in the U.S. already supporting the idea of Bitcoin and Cryptocurrencies with their dollars and by choosing to hold crypto, it will be very interesting to see what transpires as these “currency wars” mutate and expand around the globe.

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