Maru Kun's Reviews > Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money

Digital Gold by Nathaniel Popper
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really liked it
bookshelves: current-affairs, finance, economics, science

A great book for understanding the history of bitcoin, technical aspects and the history of its development.

It helps one appreciate why the currency is so popular in countries with experience of populist politicians undermining the stability of a country's currency with their insane political or economic ideas, such as Argentina, Ukraine and the UK (from March 2019).

However, as far as I recall, even this book didn't talk too much about what might well be an important limiting factor - electricity consumption of the blockchain technology:

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals. Includes a link to the paper.

Also, a video on the block chain data structure and bitcoin from what is probably the best maths channel on YouTube 3Blue1Brown: Ever wonder how Bitcoin (and other cryptocurrencies) actually work?
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Reading Progress

November 12, 2015 – Shelved
November 12, 2015 – Shelved as: to-read
September 12, 2016 – Started Reading
September 13, 2016 –
September 13, 2016 –
27.0% "Note BC exchanges seem to keep their own records of transactions between accounts of customers & may only update the blockchain periodically net when funds enter or leave the exchnge. This may imply the possibility of "fraction reserve" style ops where the exchanges can create bitcoins like banks through crediting to customers as loans but total BCs in the exchange may be only partially backed by "real" bitcoins?"
September 14, 2016 – Shelved as: current-affairs
September 14, 2016 – Shelved as: finance
September 14, 2016 – Shelved as: economics
September 14, 2016 – Shelved as: science
September 14, 2016 – Finished Reading

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