Books That You Must Read in 2020 About Bitcoin

2020 is already here. Bitcoin has 2019 as an asset with the best performance in the market far ahead of gold and the S&P 500. In addition, more and more people are talking about Bitcoin and are starting to realize that the monetary and financial system is now reaching its limits. More and more people are wondering whether Bitcoin cannot be a credible alternative to this flawed system.

In short, the Bitcoin revolution is ongoing. Block by block, the Bitcoin Blockchain continues its journey and this will still happen in 2020. If you want to take the Bitcoin Revolution train, it’s not too late but it’s better to start by after the guidelines to get the basics right.

To do this, I recommend seven important books that you must read in 2020. These books will allow you to enter the world of Bitcoin in the best possible way and to understand all the philosophies behind this ongoing revolution.

A Little Bitcoin Book

Published in the summer of 2019, “The Little Bitcoin Book” is a book that you must read if you want to quickly and concisely understand what Bitcoin is. In addition, this book will help you understand why Bitcoin is very important for the future of the world.

Bitcoin is not a fast rich scheme that contradicts what some people think. The goal is much bigger. Bitcoin is very important for the creation of a fairer world for everyone in the world in the future.

Bitcoin Is Not A Fast Scheme to Get Rich, The Goals Are Much Greater

Bitcoin is a solution for a better world in the future.

“The Little Bitcoin Book” was written by a group of writers who are committed to promoting Bitcoin and its democratization. In this group, we found Jimmy Song who participated in developer training in Blockchain programming while spreading the good word Bitcoin.

Finally, this book also includes a question and answer section that will give you the opportunity to quickly find answers to all the most common questions about Bitcoin.

This book can also be an ideal gift for people around you if you are already a Bitcoiner and want to make them understand the importance of Bitcoin for the future of the world.

Mastering Bitcoin: Programming an Open Blockchain

Andreas M. Antonopoulos is one of the most famous and recognized writers in the world of Bitcoin. Because of this, he has devoted most of his time to evangelizing the world on Blockchain since 2013.

After you read the book, you will have a clear vision of what Bitcoin and Blockchain are. This is important because before investing your money in cryptocurrency, I think it’s important to know what Blockchain is and how it is a real revolution. In this case, having a strong foundation can only be beneficial in your journey to success in the world of cryptocurrency.

Internet Money – Volumes 1, 2 & 3

Three volumes of “Internet of Money” will still be credited to Andreas M. Antonopoulos. While many books aim primarily at describing what Bitcoin is and how it works precisely technically, these books are more interested in a subject that has not been widely discussed in the literature: the reasons for Bitcoin!

Born in response to the 2008/2009 financial crisis, Bitcoin is a successful effort to create an autonomous and decentralized digital currency that is free from government control. He will probably be the big winner of the next financial collapse that threatens the world in 2020.

In these books, Andreas Antonopoulos explains why Bitcoin is a real revolution while making interesting parallels with other technologies that have revolutionized the world in the past.

All of this in Andreas Antonopoulos’s inimitable style, which is able to bring all the most difficult concepts within reach. Finally, it goes beyond the speculative side of Bitcoin to detail its philosophical, social and historical implications.

Bitcoin Standards: A Centralized Alternative for Central Banking

This book by Saifedean Ammous is considered one of the best books about Bitcoin by many early technology adopters. It teaches the historical context of the development of Bitcoin and economic property that makes it unique and allows it to grow quickly. You will also learn more about the possible economic, social and political consequences of this new technology.

In the introduction to this book, famous trader and philosopher Nassim Nicholas Taleb said the following:

“Bitcoin has no owner, no authority to decide its fate. It belongs to the crowd, for its users. And he now has a track record of several years, enough to be a complete animal. Its mere existence is an insurance policy that will remind the government that the last object that can be controlled by institutions, namely money, is no longer their monopoly. This gives us, the crowd, an insurance policy towards the Orwellian future. “

Once again, it must be read that all investors in Bitcoin and cryptocurrency must read at least once!

Bullish On Bitcoin: 37 Strategies for Getting Profit in the New Crypto Economy

A happy end to a year for Bitcoin in 2017 will make thousands of people dream. Attracted to the market by their greed, many people invest without counting when they don’t know about the world of cryptocurrency. The result was a big disaster for many of these people.

2018 with a long bear market is a consequence of the end of 2017. To prevent newcomers in the world of Bitcoin from making the same mistakes again, Misha Yurchenko has written the book “Bullish on Bitcoin” which details 37 strategies that will allow you to take advantage of Bitcoin but also from the new cryptocurrency economy in a more global way.

In this book, you will learn to control your mind to act as a trader and especially to control your emotions as best you can.

You will also find ways to find undervalued projects that potentially offer a good return on investment. Risk management as well as strategies for optimizing the taxation of your capital gains in cryptocurrency are detailed.

Finally, Misha Yurchenko explains how you can go further in the world of Blockchain by finding your next job in this field. An important book that considers 2020 awaiting Bitcoin and the world of cryptocurrency as a whole.

Confessions Of A Crypto Millionaire

This book is somewhat different from the previous one. Indeed, “Confessions of a Crypto Millionaire” is a more personal book written by Dan Conway in which he tells of his impossible journey to escape from corporate America.

For Dan Conway, the world of Bitcoin and cryptocurrency is not only about money. The search for freedom and safety is at the core of his book. “Confessions of a Crypto Millionaire” because it is a non-technical book that will show you how the idea of decentralization based on the Blockchain has convinced a whole generation of innovators.

Dan Conway’s book is very easy to read because it’s interesting and you never really know whether he will succeed in making history or whether he will eventually lose everything.

I therefore recommend you to read this book to open your mind and discover the type of adventure that the cryptocurrency world can offer to those who are fully committed to it.

Blockchain Programming: Learn How to Program Bitcoin From the Beginning

Jimmy Song is known in the cryptocurrency world as a strong supporter of Bitcoin and a better world of Bitcoin is building for the future. Jimmy Song is also an experienced programmer who evangelizes developers to Blockchain programming.

With his book “Programming Blockchain: Learn How to Program Bitcoin from the Beginning”, Jimmy Song offers you a unique dive into the heart of Bitcoin technology.

This technical book is primarily intended for developers but might be of interest to non-technical people who want to get the gist of Bitcoin technology.

As you read this book, you will learn how to decipher, validate, and make Bitcoin transactions and then use the Script, the smart contract language behind Bitcoin.

The consensus mechanism of Proof-of-Work which is the heart of Bitcoin will no longer have any secrets for you, just like cryptographic primitives and public / private cryptographic key management are carried out on the Bitcoin Blockchain. All code samples in “Programming Blockchain: Learn How to Program Bitcoin from Scratch” are written in Python 3, which is one of the most popular programming languages ​​currently available and has the advantage of being easily accessed.

This book is a must read and I recommend even for non-developers who want to go further in their understanding of the Bitcoin Blockchain.

Conclusion

The year 2020 promises to be interesting for Bitcoin with Halving scheduled for May in particular. The democratization of Bitcoin will continue to increase and more and more people are considering Bitcoin as a credible alternative to the current monetary system which shows its limits day by day.

As an individual, you must prepare yourself as best you can for the new world embodied by Bitcoin. To do this, I suggest that you read the various books that I have presented to you in this article. After you read these books, you will have all the information you need to understand what Bitcoin represents for the future of the world, but also how you can use it to not regret it in 25 years.

Explanation of Bitcoin Mining

Seldom has technology been introduced that makes us wonder how we can succeed without it. The internet and smart phones are two such technologies. One day Bitcoin will be one of them. The building blocks needed to integrate cryptocurrency into our lives are being developed throughout the world. I am a certified heavy-duty mechanic with a Computer Science degree and I know this is true, Bitcoin is the future. Strangely nothing makes me more excited than cryptocurrency and mine it. Let me explain to you the steps you can take to start mining Bitcoin today.

I run it in a spare bedroom in my basement at a standard 120 volt outlet. This is an Application-Specific Integrated Circuit (ASIC) designed for the SHA-256 hash algorithm. I will touch this later. This unit operates at a rate of 13.5 trillion hashes per second (TH / s).

Generally there are two paths to mining Proof of Work cryptocurrency like Bitcoin. The first and more traditional method is mining a graphics card or GPU. It takes a strong understanding of how to build a personal computer. This can be tricky because you have to run multiple video cards from one motherboard. One video card does not give enough hashing power. All your components must be compatible and installed correctly. Tweaking the BIOS settings is needed to make the video card run efficiently. You can see why it is not the easiest path for beginners. Mining graphics cards have traditionally been replaced with ASIC mining where possible because better performance can be achieved through ASIC.

ASIC miners are computer servers that are created to hash a large number of alpha numeric strings as quickly as possible to authenticate a given cryptocurrency transaction block. This is a race and the first to find the correct answer gets a prize. 12.5 Bitcoin prizes are allocated after one full block is mined. The first ASIC like in the photo above was designed to run 120 or 240 volts. The profitable ASIC on the market today starts from $ 1,000 USD, consumes between 2,000 and 3,000 watts of electricity, requires 240 volts to run and hashes at rates of 30 TH / s to 40 TH / s. Unfortunately, homes in North America are transferred to 120 volts. There are two solutions to this problem if you want to run it at home. Pay an electrician to replace the socket to 240 volts for you, or buy a NEMA 14-30P to an NEMA 6-15 / 20R adapter. This adapter allows you to safely power your new ASIC miner from a standard dryer outlet. Household dryer outlets are a good choice for running an ASIC miner today because they emit 240 volts of electricity and are designed to withstand the high draw power of your average 3000 watt dryer. They are also not used 90% of the time in your average household. A wired Ethernet connection is also required, there are no competitive ASIC miners on the market today that support WiFi connections.

SIC Miners are designed to run certain Cryptographic Hash Algorithms. The algorithm they run determines what cryptocurrency coins they can mine. As noted above, the miner in the photo is designed for the SHA-256 algorithm hash. The most popular coins mined today with this algorithm are Bitcoin (BTC), Bitcoin Cash (BCH) and Bitcoin SV (BSV). Miners will switch between the three (and others like it) depending on which is the most profitable to be mined. At the time of writing, BSV is the most profitable SHA-256 coin to mine.

Now that you know what type of miner you want to buy, where you will run it and what type of coins you will mine, it’s time to choose a mining pool. This is the last part of a successful mining puzzle. Mining ponds needed. Without access to one, it took almost ten years to mine a full block with a single ASIC. All the miners in the pond work together as a team to mine the same block. Some large ponds out there can mine up to 16 blocks per day. The block prize is then divided among participants proportionally to the total hashing power they give to mining each block. Ponds vary depending on the fees they charge, where they are and how big they are. After creating your collection account, you will be given a URL to enter the Miner Configuration screen on your miner. You can use the miner configuration screen by searching for the miner’s IP address from the list of online devices in the admin screen of your home router. You also need to enter the user ID that you created in the mining set into your Miner Configuration screen along with the individual worker ID. For example, userID.Worker1, userID.Worker2 and so on depend on how many miners you choose in that specific set.

The last part of the puzzle is the wallet. A wallet address is a fully secure online site that keeps a current and exact record of the amount (in this case) of Bitcoin that you have accumulated to date. This wallet address is available for sending or receiving Bitcoin 24 hours a day, 365 days a year. This is something worth repeating. The address of your wallet once created is always ready to send / receive regardless of whether your hardware / software wallet is connected to the internet. Wallets come in two forms, software and hardware. Most software wallets are free applications that you can download to your phone. They are not very safe and are not recommended. A hardware wallet is the only safe way to save Bitcoin. Some of them look like USB sticks. Once your wallet is initialized, it will give you a unique wallet address and recovery phrase of 12 to 24 words that can be used to restore access to your Bitcoin if your physical hardware wallet is lost, stolen, or damaged. Don’t forget to enter your unique public wallet address into your collection configuration screen so they can save your Bitcoin mining prize owed to you.

I hope I have explained the Bitcoin mining process to you in 2019. The right time to mine is now. Jump with both feet and eyes wide open. I can say from personal experience it’s clearly a risk worth taking!