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 discovering the truth.
That truth is this: In the global scheme of economic phenomena, bitcoin is a non-event.
But for the “faithful,” bitcoin has become a religion and they use their cultish zeal to defend their own self-interests. They criticize this book and the conclusions reached with childish temper tantrums, most of them without bothering to read the only book about bitcoin written without rose colored glasses.
That should say a lot - because this book pulls the curtain back on the “faithful’s” wizard, and reveals, there is no there there.
What Jeffrey Robinson, the international best-selling author of THE LAUNDRYMEN, has done to upset the “faithful” is to 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 profotable future or abject failure.
He investigates the great promises made by the “Faithful”: that bitcoin will replace fiat; that central bankers are trembling at the feet of this all encompassing digital currency; that bitcoin is the perfect solution to the developing world’s unbanked and underbanked; that bitcoin is a speeding freight train bearing down on the dollar’s dominance as the world’s primary currency; and that 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, and points to these two indisputable truths: all the years alter, there is still not one single bitcoin driven blockchain business up and running and profitable; and there is still not even one venture capitalist who has sunk money into a bitcoin driven blockchain business who has seen a return on his money.
Entire forums on the Internet have been filled with the “faithful’s” wrath about this book, and rallying calls for trolls everywhere to get even.
Yet, 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 see bitcoins day to day than there are piano tuners in Canada.
* There are fewer people actually using bitcoins to buy goods and services than there are members enrolled in Kuwait Airways frequent flyer program.
* The “blockchain” technology behind bitcoin, has the potential to 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 simply not what you get.