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This is the book that the bitcoin world does not want you to read. And they will say whatever they can to stop you from reading it.
Just look at every negative review below. Each is the result of a concerted effort by the bitcoin "faithful" to keep you from discovering the truth. And that truth is this: In the global scheme of economic phenomena, bitcoin turns out to be a non-event.
But for the "faithful," bitcoin has become a religion and they use their cultish zeal to defend their own self-interests. Note, too, how obvious it is that most of these childish "temper tantrums" have been written without bothering to read the book.
What Jeffrey Robinson, the international best-selling author of THE LAUNDRYMEN, has done to upset them is to pull back the curtain on the digital currency craze and demonstrate conclusively that, when it comes to bitcoin, what you see is not necessarily what you get.
After spending more than a year trekking through “Planet-Bitcoin,” he reveals a digital-something pretending to be a currency; that same digital-something pretending to be a commodity; a political movement that reeks of a delusional cult; and a technology – a unique peer-to-peer transfer system – that happens to be brilliant.
He spoke with big players and small players, economists, tech analysts, bankers, cryptographers, digital engineers, entrepreneurs, venture capitalists, businessmen, regulators, get-rich-quick schemers, wannabes, cult followers, political anarchists, and the “rock stars” of the eco system - from “Bitcoin Jesus” Roger Ver to now convicted bitcoin felon Charlie Shrem, from Overstock.com's CEO Patrick Byrne to Silicon Valley venture capitalist Marc Andreessen - all of whom have a major stake in bitcoin’s brilliant future or abject failure.
He investigates the great promises made by the “Faithful”: bitcoin will replace fiat; central bankers are trembling at the feet of this all encompassing digital currency; bitcoin is the perfect solution to the developing world’s unbanked and underbanked; bitcoin is a speeding freight train bearing down on the dollar’s dominance as the world’s primary currency; and bitcoin is wildly successful having gone so viral that it is viral cubed.
Laying out the facts and citing sources, he separates the myths from the naked truths, one by one.
With typical wit, humor, and his jaundiced eye for cons, scams, pirates, hype, market manipulation, misinformation, outright lies, self-fulfilling Ponzis, sleight of hand and a mob of greater fools, Robinson produces the evidence to prove that:
* Punch for punch, the pretend-currency can’t stand toe-to-toe with the non-convertible Cuban peso.
* The pretend-commodity is really just a casino chip for a loaded roulette wheel.
* There are fewer businesses worldwide who “accept” bitcoin than there are piano tuners in Canada.
* There are fewer people using bitcoins to buy goods and services than there are members enrolled in Kuwait Airways frequent flyer program.
* The “blockchain” technology behind bitcoin, is brilliant and will absolutely change the world.
Jeffrey Robinson rips through the headlines, the hot air and the hysteria to prove, without any doubt, that when it comes to bitcoin, what you see is not necessary what you get.
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