The Internet of Money
We would like to get started by having you read this discouraging quоtе frоm thе bооk:
“I can guarantee you that the one of first distributed autonomous corporations is going to be a fully autonomous AI based ransom-ware virus that will go out and rob people online of their bitcoin and use that money to evolve itself. To pay for better programming, to buy hosting and to spread.”
Mаny bооks еxplаіn thе way bіtcоіn functions. On the contrary, Thе Іntеrnet of Money elaborates on the very rudiments of bitcoin. Ассlаіmеd infоrmаtіоn-security expert and author of Mastering Bitcoin, Andreas M. Antonopoulos examines and contextualizes the significance of bitcoin through a series of essays covering the exhilarating maturation of this technology. This book is a collection of transcripts from the most famous public talks Andreas Antonopoulos has given. When it comes to cryptocurrencies and Bitcoin Andreas is quite a visionary. So it was fascinating to see how key points of Andreas’ talks evolved as Bitcoin got more and more traction. From the very basic concepts and use cases to question of scaling the technology behind Bitcoin. In every talk, the author uses clear and understandable analogies and historical references to prove his point. The problem for a reader is that obviously, Antonopoulos reuses his best points in some of the talks, so it can become a bit repetitive.
The main takeaways from the book:
• “Bitcoin is not currency; it’s the internet of money!”
• “Six and a half billion people on this planet have no connection to the world of money. They operate in cash-based societies with very little access to international resources. They don’t need banks.”
• “There are a billion people, right now, with access to the internet and feature phones who could use bitcoin as an international wire-transfer service.”
• “As the adage of the entire internet once went, “I just replaced your entire industry with 100 lines of Python code,” that’s exactly what we’re doing with bitcoin.”
• “This isn’t about nation-states anymore. This isn’t about who adopts bitcoin first or who adopts cryptocurrencies first, because the internet is adopting cryptocurrencies, and the internet is the world’s largest economy. It is the first transnational economy, and it needs a transnational currency.”
• “The Internet of Money, bitcoin, is releasing 50 yrs. of pent up innovation in finance, because it offers innovation without permission.”
• “You don’t need to ask anyone if your application can be published on the Internet. You don’t need to ask anyone to completely subvert a new industry with your information technology. On Bitcoin, you don’t need to ask anyone to invent a new financial instrument, a new payment system, a new service. You can just do it.”