Attack of the 50 Foot Blockchain: Bitcoin, Blockchain, Ethereum & Smart Contracts

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Attack of the 50 Foot Blockchain: Bitcoin, Blockchain, Ethereum & Smart Contracts

Attack of the 50 Foot Blockchain: Bitcoin, Blockchain, Ethereum & Smart Contracts

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The book is a thorough deconstruction of the history, mythology, and outrageous over-claims of this popular new technology. However, the rise of such a plethora of digital coins and the fact that most of them are worth next to nothing would probably come as no surprise to someone who has read this book. I’ve seen a quote to the effect that crypto-currencies in general seem to be trying to recreate every scam, con, and mistake ever encountered in any financial system in recorded history.

If you have particular grounds for adding a late comment, comment on a more recent post quoting the URL of this one.Overall a very useful and timely book but one most suited to people that have some background in the area ot with IT.

The link between the blockchain/Bitcoin movement and political views that most of us would reject (e. Wer mit Token spekuliert, kann mit der Lektüre immer noch eine Menge Verlust vermeiden: all das Krypto ist manipulierbar und fast alles ist schwer manipuliert. It is, however, important to distinguish between the intrinsic values of the actual cryptocurrencies vs the underlying blockchain technologies, though the author thinks they are redundant as well. Sadly, they’re also attractive to scammers: the concept is complicated enough that you can bamboozle laypeople, but not so complicated that you can’t fake the jargon with a little practice.

One commenter posted: “They just prefer the imaginary debt based ‘money’ their slavemasters issue via the central banks of the world. Some days it seem like they’re trying to recreate every possible coding and cryptographical mistake as well.

A perfect gift for older (and non tech savvy) relatives who ask you "what are these bitcoins I keep hearing about then? And the next time we want to LARP a Neal Stephenson novel, I really hope it's the one with the math monks. The coverage of these sites and their collapse is somewhat brief given their importance in bringing Bitcoin into the wider consciousness of the public. I for one am a hodler, and general believer in crypto and blockchain, though I can also acknowledge we're very early in the game, and the tech has ways to go before it matures. An experimental new Internet-based form of money is created that anyone can generate at home; people build frightening firetrap computers full of video cards, putting out so much heat that one operator is hospitalised with heatstroke and brain damage.

It a book I would recommend, above all, to anyone involved in cryptocurrency development, because very little progress was made, i think, on the issues raised. This doesn't go nearly as in-depth as Popper's Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money, though it brings a wonderful focus on the vast number of ways that bitcoin fails to live up to its promises, and a better interrogation of what those promises might actually mean. Therefore, Vampire Dollars is a system of currency where one or more actors within it is openly malevolent and the majority of other actors are of unclear allegiance or morality. What the author sets out to do is give the history of blockchain technology in a way that a layman can understand in and then show that many of the promises made by the promoters of blockchain technology and cryptocurrencies are mostly empty. The “smart contracts”, offered by other blockchain-based platforms (notably, Ethereum) are also proving to be difficult to use in businesses.

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