The Bullish Case for Bitcoin
- Length: 136 pages
- Edition: 1
- Language: English
- Publisher: Vijay Boyapati
- Publication Date: 2021-05-08
- ISBN-10: 1737204118
- ISBN-13: 9781737204114
- Sales Rank: #13513 (See Top 100 Books)
The Bullish Case for Bitcoin, first published as a long-form article, represents an intellectual tour de force delivered with elegance and prescience by a polymath well-versed in mathematics, computer science, economics, philosophy, politics, and engineering. After March of 2020, it was evident to me that the world needed a new money based on technology. However, in February 2018, when Boyapati first published his paper, this insight required much greater perspicacity, courage, and conviction.
In a clear and concise manner, Boyapati presents the theory of money, the anatomy of Bitcoin, the reasons it is superior to the gold and fiat standards that came before it, and the promise that it offers to human civilization. He describes path dependence and the trajectory of a newly monetizing asset in terms the layman can understand, and he addresses the concerns that most commonly arise as newcomers struggle to comprehend the essence and significance of this first digital monetary network. I was immediately captivated by “The Bullish Case for Bitcoin” when I first read it and made it part of the recommended reading for all the officers and directors of my firm as we educated ourselves on Bitcoin and considered the logical path forward. In this book Boyapati updates and significantly expands on the ideas presented in his original article.
Foreword Prologue Prometheus The Gordian Knot The Breakthrough 1. Genesis and the Origins of Money Genesis The Origins of Money 2. The Attributes of a Good Store of Value Durability Portability Fungibility Verifiability Divisibility Scarcity Established History Censorship Resistance 3. The Evolution of Money Path Dependence 4. The Shape of Monetization Hype Cycles Gartner Cohorts The Effect of the Halving The Entrance of Nation-States The Transition to a Medium of Exchange 5. A New Monetary Base Common Misconceptions Is Bitcoin a Bubble? Is Bitcoin Too Volatile to be a Store of Value? Is Bitcoin Too Expensive to Invest In? Are Transaction Fees Too High? Does Bitcoin Consume Too Much Electricity? Will Bitcoin Be Overtaken by a Competing Cryptocurrency? Are Forks a Threat to Bitcoin? Is Bitcoin Really Scarce? Real Risks Protocol Risk The Risk of State Attack The Risk of Miner Centralization Custodial Risk The Risk of Federal Reserve Policy The Risk of Rehypothecation The Risk of Imperfect Fungibility Conclusion Epilogue The Great Debate The Immutability of Protocols The Schism Denouement Acknowledgments Disclaimer About the Author
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