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On the Nature of Bitcoin

During the last months whilst the new coronavirus lockdown rules became ever more strict, I did not know how to cope well with the ever-increasing loss of freedom and liberty and decided to start writing a book in order to maintain my sanity. Really, those coronavirus measures were not my cup of tea, and although it was only a logical reflex at first glance, after a few weeks it should have been clear that it was all not that bad. Writing a book thus helped me a lot since social life almost died out and not much was happening, so I could not be disturbed while writing.

 

Previous attempts of writing a book

The book isn’t my first published workaround and I’ve published a lot before, like research papers, opinion articles, and columns. Basically for as long as I can remember. The reason why I like to write is that it really calms my mood, whilst focussing on one task that can be completed either fairly good or bad. Your mind thoughts need to be structured, as otherwise, the text will become unreadable.

My first attempt at writing and publishing a book was when I was 11 years old. At that time I worked on an old x386 Windows 3.11 computer and the old-fashioned Word software that came with it. However, I lost the floppy disk on which the file was saved and the book was lost to me. Another effort to publish a book failed in 2010. The reason for this was simple: I found out that my writing skills weren’t good enough for me to publish a book with confidence.

 

Let’s go!

This has changed, however, and I decided it was time “to have a go for it”. As I was always interested in the idea of cryptocurrency and economics in general, I decided to write a book on Bitcoin with the goal to both entertain and be informative at the same time. The book offers great value for those who are willing to learn and take a step back before approaching any object of observation. With the inclusion of quality sources you can be sure that this is not a book that will “shill Bitcoin” to you, but makes clear what the strength and weaknesses of the Bitcoin system actually are without falling down the ladder of Bitcoin fundamentalism and other crypto- ideologies.

So as said before, in 2021 I felt confident enough and published my first book ‘On the Nature of Bitcoin’. The book is all about Bitcoins’ role in the digital transformation of society and takes a multidimensional approach to the Bitcoin system. In the book, you will learn what Bitcoin is, how it works and how well it performs as a new digital currency system. You will also learn how the decentralized blockchain network operates and how it secures itself from hacking attacks. Of course, Bitcoin is increasingly used in ransomware attacks and I will explain how governments can use KYC-verification processes to increase the accountability of Bitcoin transactions.

 

Multidimensional and clear approach to the Bitcoin system

Bitcoin is not a foolproof solution to commercial banking at all, however, and the comparative analysis of the cryptocurrency will clearly show this as well, that compared to USD credit systems it hosts a variety of problems and weaknesses. Thus, Bitcoin is not the ‘all in one’-fix it is often claimed by Bitcoiners, but it is still useful and the system itself offers value by offering a variety of use cases to be fulfilled. Bitcoin thus is a currency system based on market valuation and does offer value, but compared to other systems of currency it lacks transaction speed and power/energy efficiency. Although such statements might lead to disagreement, my book will provide arguments for them.

My book is a smart book, with high-density information and only 206 pages. So you can be sure to read a lot and learn even more without spending too much time on it. On the Nature of Bitcoin is available on Amazon in both e-book and print.

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