O'Reilly logo

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

The Bitcoin Big Bang: How Alternative Currencies Are About to Change the World

Book Description

Get a handle on the digital currency revolution, and learn how to get on board

The Bitcoin Big Bang is a guide to navigating the uncharted territory of digital currency. Written by CNBC contributor Brian Kelly, this book goes beyond Bitcoin 101 to explain how this transformative technology is about to change the world. Digital currency is thrown into perspective against the history of payment systems and its own evolution, as readers are invited to explore the ways in which this technology is already changing the way business gets done. Readers gain insight into the mechanisms behind Bitcoin, and an expert perspective on digital currency's effect on the future of money and the economic implications of the Bitcoin revolution.

In the same way that e-mail changed the way we transfer information, the decentralized Bitcoin network is about to revolutionize the business world, the legal profession, and even the role of the government. The Bitcoin Big Bang dives head first into this paradigm shift, allowing readers to:

  • Explore the origins of digital currency

  • Learn the history and evolution of payment systems

  • Discover how the Bitcoin network is facilitating free and instant transfer of value

  • Understand the mining of Bitcoin, and how to invest

  • The digital currency revolution has implications that spread far beyond the finance industry. Anyone who exchanges payment for goods and services is on the cusp of the next big push in societal evolution, and only an understanding of the technology and a clear knowledge of the systems and behaviors at play can fully prepare us for the changes to come. The Bitcoin Big Bang is the go-to guide, helping those who use money use it better.

    Table of Contents

    1. Preface
    2. Acknowledgments
    3. About the Author
    4. Chapter 1: Bitcoin Is a Bubble
      1. The Quest to Buy Bitcoin
      2. Bitcoin Enlightenment
      3. Currencies Are a Matter of Trust
      4. What Is Bitcoin?
      5. Is It a Currency?
      6. It's Revolutionary
    5. Chapter 2: Understanding the Digital Gold Rush
      1. The Language of Bitcoin
      2. How Do I Buy Bitcoin?
      3. Who “Gets” It?
      4. The Gold Rush Is Just Starting
    6. Chapter 3: Bitcoin Is More than Digital Gold
      1. Searching for Satoshi
      2. The Search
      3. Why Is Satoshi a Genius?
      4. Bigger than Satoshi
    7. Chapter 4: Byzantine Generals' Problem
      1. How Does Bitcoin Solve the BGP?
      2. 51 Percent Attack
      3. An Elegant Solution
    8. Chapter 5: A Decentralized Financial System
      1. Grand De-Central Station
      2. What's at Stake?
      3. Central Banks
      4. Bitcoin Is the Catalyst
    9. Chapter 6: What Do You Call a Bitcoin Miner? A Banker
      1. How Does a Bitcoin Transaction Work?
      2. What Is Cryptography?
      3. Still Want to Be a Miner?
      4. Do We Need Another Bitcoin?
    10. Chapter 7: Nautiluscoin—0 to $1 Million in 60 Days
      1. Creating the Coin
      2. Did It Work?
    11. Chapter 8: Building the Nautiluscoin Economy
      1. Dynamic Proof-of-Stake
      2. Other Policy Tools
      3. Alternative to Gold
      4. Money, Made Better
      5. Financial Market Integration
      6. Special Drawing Rights
      7. Why NAUT?
    12. Chapter 9: Investing and Trading in Alternative Currencies
      1. A New Investment Class
      2. Valuation
      3. Exchanges
      4. Investment Vehicles
      5. Asset Class Growth
    13. Chapter 10: Regulation
      1. Regulatory Agencies
      2. Challenges to Regulation
      3. Pushing on a String
    14. Chapter 11: Smart Money: Set It and Forget It
      1. Rules of the Road
      2. Smart Contracts and Property
      3. Ethereum
      4. Cryptoequities: A New Type of Investment
      5. Decentralized Autonomous Organizations
      6. Professor Money
    15. Chapter 12: Everything You Know about Business Is Wrong
      1. Cryptonomics
      2. Growth Share Matrix
      3. Learning Curve Effects
      4. Porter's Three Generic Strategies
      5. Human Resource Management
      6. Fueling the Sharing Economy
      7. The Future Just Might Work
    16. Appendix 1: Department of the Treasury Financial Crimes Enforcement Network Guidance: FIN-20 13-G00 1 Issued: March 18, 2013 Subject: Application of FinCEN's Regulations to Persons Administering, Exchanging, or Using Virtual Currencies
      1. Currency vs. Virtual Currency
      2. Background
      3. Definitions of User, Exchanger, and Administrator
      4. Users of Virtual Currency
      5. Administrators and Exchangers of Virtual Currency
      6. Providers and Sellers of Prepaid Access
      7. Dealers in Foreign Exchange
      8. Notes
    17. Appendix 2: New York State Department of Financial Services Proposed New York Codes, Rules and Regulations: Title 23. Department of Financial Services Chapter I. Regulations of the Superintendent of Financial Services Part 200. Virtual Currencies
      1. Section 200.1 Introduction
      2. Section 200.2 Definitions
      3. Section 200.3 License
      4. Section 200.4 Application
      5. Section 200.5 Application Fees
      6. Section 200.6 Action by Superintendent
      7. Section 200.7 Compliance
      8. Section 200.8 Capital Requirements
      9. Section 200.9 Custody and Protection of Customer Assets
      10. Section 200.10 Material Change to Business
      11. Section 200.11 Change of Control; Mergers and Acquisitions
      12. Section 200.12 Books and Records
      13. Section 200.13 Examinations
      14. Section 200.14 Reports and Financial Disclosures
      15. Section 200.15 Anti–money Laundering Program
      16. Section 200.16 Cyber Security Program
      17. Section 200.17 Business Continuity and Disaster Recovery
      18. Section 200.18 Advertising and Marketing
      19. Section 200.19 Consumer Protection
      20. Section 200.20 Complaints
      21. Section 200.21 Transitional Period
    18. Index
    19. End User License Agreement