News by Coingeek: Derek Tonin
Several books as of late have taken different looks at Bitcoin, and told the stories of its creation and those who latched on to it. But perhaps no book has tried to tell an end to end history as succinctly as Bitstocks new eBook, “A Short History of Bitcoin Myths.”
While the history of Bitcoin itself is important to understand what it is, due to the incorrect popular perception many have of the digital currency, debunking the myths are just important. Bitstocks book seeks to do that for every important step along the way of Bitcoin’s history.
The story begins with the origins of Bitcoin, and importantly, the elements that had nothing to do with its creation. It gets into the obscure manipulation that created the financial crisis of 2008, and quotes Dr. Craig Wright extensively on why he created Bitcoin to provide greater transparency in financial matters.
As the book dives into what happened after Bitcoin came to life, there are plenty of myths for it to handle. Chapter two discussed how the cypherpunks co-opted Bitcoin for their own anarchic purposes. Chapter three then covers how those anarchists and their criminal friends made Bitcoin the tool of the dark web, forever diverging its past into what eventually became BTC.
Despite that path, the idea of Bitcoin was still popular, and chapter four discusses how, despite the public wanting to embrace it, development of the blockchain was sabotaged to keep it niche. In chapter five, ethereum was created to handle problems Bitcoin should have been able to handle in the first place, and BTC itself became a speculative asset, as discussed in chapter six. Chapter seven debunks the need for the lightning network, which was created because BTC developers said the crypto couldn’t scale.
Throughout each of these chapters, the authors discuss every myth that’s been propped by Bitcoin Core and Ethereum developers as reasons why the original Bitcoin couldn’t handle the task Satoshi gave it. They also explain why, in following that original vision, Bitcoin SV (BSV) is proving those myths wrong.
Throughout the book, experts from across the blockchain and cryptocurrency world are cited, proving how much effort the Bitstocks team put into this work. They aren’t just telling a story, they kept track of the evidence and they’re now using it.
Although at 56 pages, it’s probably the shortest read you can find to explain the full extent of how Bitcoin went from a thought in Satoshi’s head to the BSV it is today.
Head on over to Bitstocks page and check out the eBook for yourself. It’s completely free, and available to read now.