Review of Bitcoin Answered

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grace ruhara
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Review of Bitcoin Answered

Post by grace ruhara »

[Following is a volunteer review of "Bitcoin Answered" by Jon Law.]
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4 out of 4 stars
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Bitcoin: Answered by Jon Low and Alan John is a financial text that attempts to demystify Bitcoin. The book provides detailed information on the history of Bitcoin, its gradual development over several years and the current status quo and financial position that Bitcoin occupies in the world. Moreover, it gives sufficient explantations to questions that one would have regarding Bitcoin such as whether it is a scam, or if it is so vulnerable and insecure that it could be hacked by malicious internet users, who owns and directs Bitcoin trade, how popular the cryptocurrency is, compares the cost of buying Bitcoin vis a vis the cost of mining it and whether it is risky trading in Bitcoin.

Interestingly, the book employs the use of register relevant in the cryptocurrency trade, which I found not only enriching but also educating. Through this book, I was able to understand what a 'bag' means in Bitcoin, who a 'bag holder' is and what a 'dolphin' may insinuate in the Bitcoin trade. What is further fascinating is that despite the controversies and discreetness that surround it, the Bitcoin trade pays taxes to the government like any other business. There are also several end-goals or aims that Bitcoin accomplishes and strives to meet, one being enabling secure control over personal assets without relying on a third party. This means that the Bitcoin trade seeks to enhance the global transfer of assets and financial stock between or among traders without making them go through various channels. This will reduce the transaction fees incurred and the risk of 'involving many cooks to prepare the broth'.

What I loved most about the book is that it adopts a father-son conversation style in its content delivery. The information is broken down using simple language that is easy to understand and interact with. It is also worth commenting on the inclusion of diagrams and pictures, which complement the author's descriptions and explanations. The visual images provide mental pictures to the reader by illustrating what the authors are talking about and thus enhance comprehension of the book. Furthermore, the author states facts that are backed up by solid proof and empirical data, evident from the resources and references issued at the end of the book; the reader can conduct further research to investigate the author's statements or seek clarity.

There is absolutely nothing that I did not like about this book; it has equipped me with a few rules that I should adhere to when I venture into any business. I, therefore, believe that this book deserves to be awarded four out of four stars. It must have been professionally edited because it has no grammatical errors. The excellent organization of the book into subtopics is a plus because they simplify the entire book into subsections with brief wordings that are easy to comprehend. This makes it easier for the reader to process information from the book in bits.

I recommend this book to readers who would like to venture into the cryptocurrency world. They would greatly benefit since the book's resourcefulness matters Bitcoin is unparalleled. The book does not contain any profanity and is open to readers from all religious affiliations.

Bitcoin Answered
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J Edwards
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Post by J Edwards »

To most people, cryptocurrency is a mystery. When you mention Bitcoin today, majority of the people think that it is a scam. I am glad that this author took time to elaborately lay it bare for the common man. Thank you for your excellent review.
“We don’t receive wisdom; we must discover it for ourselves after a journey that no one can take for us or spare us.”

French novelist Marcel Proust.
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