The Promise of Bitcoin: The Future of Money and How It Can Work for You

by Bobby C. Lee

Overview

WALL STREET JOURNAL BESTSELLER

From the cofounder of the longest-running Bitcoin exchange comes a compelling argument for how this digital currency will transform the global economy—and how it can work for you.

A financial revolution is materializing before our eyes. The way individuals, organizations, and governments conduct transactions—from purchasing a book online to acquiring major corporations to delivering billions in financial aid—will look vastly different in the near future. Bitcoin is spearheading this revolution and may be the best investment opportunity of our time, yet most people have yet to understand its promise.

In this book, Bobby C. Lee, one of the earliest, most successful pioneers in the cryptocurrency space, debunks myths and dispels fears that surround Bitcoin, arguing that this rational, logical system is superior to traditional monetary systems. He cites signs of Bitcoin’s widening acceptance: a growing community of users worldwide and multiple initiatives for investing in and holding bitcoin among major financial services organizations and institutional investors who control trillions in assets.

Lee offers a primer on the best strategies for investing in this digital currency, the value of which will only continue to grow. He discusses the pros and cons, and covers the complicated yet more profitable method of acquiring bitcoin, mining. He offers predictions for the future, including price, trajectory, use, and participation in the larger economy—as well as developments in regulation, technology, business, and society.

Invest in the promise of Bitcoin today.

Product Details

ISBN-13:	9781260468670
Publisher:	McGraw Hill LLC
Publication date:	05/18/2021
Pages:	304
Sales rank:	1,109,522
Product dimensions:	6.10(w) x 9.10(h) x 1.20(d)

About the Author

Bobby C. Lee is the founder and CEO of Ballet, a startup that provides user-friendly physical wallets for storing cryptocurrency. His first startup was BTCChina, China’s first bitcoin exchange. He exited the business after its successful acquisition in January 2018. Lee serves on the board of the Bitcoin Foundation, a nonprofit organization that builds awareness of Bitcoin. Before founding BTCChina, Lee was vice president of technology at Walmart. He started his tech career in Silicon Valley as a software engineer at Yahoo!, where he led the development of the earliest online communities. He has been interviewed as a digital currency expert by the BBC, Bloomberg, Business Insider, CNBC, CoinDesk, The Economist, Financial Times, Forbes, New York Times, Reuters, Wall Street Journal, and Washington Post.

Table of Contents

Introduction: My Journey into Bitcoin vii

1 Birth of Bitcoin: Satoshi's Genius 1

2 The Three Horsemen: Mining, Wallets, and Exchanges 25

3 Dark Underbelly of the Fiat Beast 45

4 Why Regulators are Slowing Adoption But Shouldn't 65

5 Let's Get Philosophical: Money is a Natural Right 95

6 An Evolving Industry 109

7 May I Suggest You Ignore the Turbulence 137

8 Bitcoin is Less Vulnerable than You Think 151

9 Five Other Major Fears Deconstructed: FDIC, Loss, Regulation, Mining, and Government 161

10 A Better Way of Doing Business 177

11 How to Invest: Bitcoin's World of Great Resources 189

12 Bitcoin is Only Going Up 209

13 Fifteen Predictions for the World of Cryptocurrency 225

Acknowledgments 253

Notes 255

Index 265