Cover image for The age of cryptocurrency : how Bitcoin and digital money are challenging the global economic order
Title:
The age of cryptocurrency : how Bitcoin and digital money are challenging the global economic order
Author:
Vigna, Paul.
Personal Author:
Edition:
First edition.
Publication Information:
New York, N.Y. : St. Martin's Press, 2015.
Physical Description:
357 pages : illustrations ; 25 cm
Summary:
"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"--
Language:
English
Contents:
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 meets round hole -- A new new economy -- Come what may.
ISBN:
9781250065636
Format :
Book

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Call Number
Material Type
Home Location
Status
Central Library HF5548.32 .V54 2015 Adult Non-Fiction Non-Fiction Area
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Summary

Summary

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.


Author Notes

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 FoxBusiness Network, CNN, the BBC, and the John Batchelor radio show. He has been interviewed by Bitcoin magazine and appeared on the Bitcoins & Gravy podcast, and boasts a collective 20 years of journalism experience.


Reviews 2

Booklist Review

Bitcoin was developed in 2008 and is used worldwide, but it's still a niche product that's not widely understood. There's debate about the use of bitcoin and similar digital money systems, and controversy over security and lack of regulation, although its use is increasing among merchants due to the cost savings over traditional financial-transaction fees. The authors here provide an objective viewpoint and an explanation of the history and workings of bitcoin. Well written in simple terms with effective examples, it is an excellent resource. It explains how bitcoin operates like a wire transfer without the bank in the middle, using digital cash to purchase products, including pizzas and other merchandise. It explains bitcoin mining and the pros and cons of bitcoin, including the cost savings it drives and the advantage of not having to share personal information, versus its security issues, price volatility, and potential impact on the banking industry. The authors take a neutral and journalistic approach and suggest digital currency may be the way of the future, whether it's bitcoin or something else.--Kryszak, Cindy Copyright 2014 Booklist


Publisher's Weekly Review

While many readers understandably have a hard time wrapping their heads around the concept of non-government-backed currency, journalists Casey (Che's Afterlife) and Vigna, who blog about cryptocurrency at the Wall Street Journal's 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 Bitcoin-such as tamper-proof records of verified information-will be valuable to any reader. Agent: Gillian McKenzie, Gillian McKenzie Agency. (Jan.) © Copyright PWxyz, LLC. All rights reserved.


Table of Contents

Introduction: Digital Cash for a Digital Agep. 1
1 From Babylon to Bitcoinp. 15
2 Genesisp. 41
3 Communityp. 69
4 Roller Coasterp. 97
5 Building the Blockchainp. 120
6 The Arms Racep. 138
7 Satoshi's Millp. 160
8 The Unbankedp. 186
9 The Everything Blockchainp. 219
10 Square Peg Meets Round Holep. 246
11 A New New Economyp. 274
Conclusion: Come What Mayp. 293
Acknowledgmentsp. 313
Notesp. 317
Indexp. 345

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