Learn the Secret Behind Bitcoin With Amit Bhardwaj's New Ebook

Have you ever wondered what the big deal is with Bitcoin in the media lately? I think a lot of us have. And like myself, I am pretty sure many of my readers have attempted to understand exactly what in the world is a Blockchain and how it is connected to Bitcoin - and what is a Bitcoin anyway? Where does it get its value? Where does it come from? And why does it seem many governments and financial institutions are against it or trying to copy it - while being against it as well.

 

Now, I want to say before I explain any more about this that I am not a master, nor do I have enough knowledge that you should simply take my word for it. There are plenty of awesome resources out there that go into far greater detail than I can, and even keep it pretty simple and straightforward. My first true learning experience concerning Bitcoin was from an ebook that I downloaded, Cryptocurrency Mining for Beginners,  from an author by the name of Amit Bhardwaj. From this book I learned how Bitcoins were “created,” and much more.

 

As a matter of fact, Bhardwaj has recently released another ebook, Cryptocurrency for Beginners(kind of reminds me of those great For Dummies books, but without the insulting term). And even though his book was only launched about three weeks ago, reports have been released by some of his employees that hundreds of thousands of copies have already sold. Bhardwaj himself didn’t comment, but considering his status in India in the Bitcoin world, I am not surprised at all. Either way, this shows how fast the idea of Bitcoin is catching around the globe.

 

So, in a Nutshell Bitcoin Is This

In 2009, a man by the name of Satoshi Nakamoto release a white paper that would go down in history as the most mysterious document ever released. Now, it isn’t mysterious because of what it contains. It gets its mystery from the fact that nobody knows who this Nakamoto is, though some people have an idea it is actually a man named Dorian Nakamoto, a Japanese American man living in California, whose birth name is Satoshi Nakamoto. But until this very time, no one is really sure.

 

Anyway, I really want to share with you what a little of what he wrote in his white paper before I continue with the rest of my article. Here is why he created Blockchain and Bitcoin:

“Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model. Completely non-reversible transactions are not really possible, since financial institutions cannot avoid mediating disputes. The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions, and there is a broader cost in the loss of ability to make non-reversible payments for nonreversible services.”

 

So, you see, the problem for him is how the financial industry works - it works against us, the consumer.

 

What was his solution?

He wanted to create a decentralized public ledger that doesn’t need someone overseeing it. Creating a highly secured, automated public ledger using a complex algorithm was the answer. And that was how Blockchain was born. But what is Blockchain without a purpose? Naturally, Blockchain was designed in order to create a highly secure, very anonymous digital currency that gave people actual power over their money. And of course, this has made a lot of people in the financial industry nervous because this could virtually change how the world does business. So, there you go. Hopefully you have a better understand of why Bitcoin has been getting a lot of hype as of late. If you want to learn more, I advise you to download some books and get more knowledge about it.

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