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Dominic Frisby - Bitcoin: the future of money

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Dominic Frisby Bitcoin: the future of money
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    Bitcoin: the future of money
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Bitcoin The Future Of Money Dominic Frisby 1 Praise for Life After the - photo 1

Bitcoin
The Future Of Money?
Dominic Frisby
1
Praise for Life After the State

Dominic Frisby has gone and done something extraordinary: written a page-turner on the economy. Its both readable and radical, a serious book that is, by turn, fascinating, alarming and contentious. At times, the book makes you want to shout its message from the rooftops; at others, it just makes you want to shout. Life After the State challenges so much of what we take for granted. It is a wake-up call for politicians, economists and us all, written with clarity, verve and, more than that, the restless passion of an intelligent, inquisitive malcontent. Read it.
James Harding, BBC Director of News and Current Affairs

Congratulations on your brilliant book it will do more good than all my speeches in Parliament and around the country.
Steve Baker, MP

Its incredibly readable and incredibly thought-provoking.
Al Murray, The Pub Landlord

An entertaining cogent attack on state power, which should topple the centralist Trots once and for all.
Tom Hodgkinson, The Idler

Congratulations on your cracking book. Its a great read.
Liam Halligan, economist and Telegraph columnist

I have read your Life after the State with huge interest. Its a very fine compendium of ideas and stories.
Matt Ridley, author

We cant go on as we are. All politicians know that. But if they read Life After the State they might also start to understand what they might do about it. A must read for any thinking man or woman.
Merryn Somerset Webb, FT columnist and editor-in-chief, MoneyWeek

The scalpel-brain of an economy geek and the sharp tongue of a stand-up comedian His arguments are not only convincing in principle they are also compelling in practice. I loved the book.
Mark Smith, Herald Scotland

If Dominic Frisby was as good a comedian as he is a writer and thinker, then he would be filling arenas This book is something of a joy an important book at a crucial time. Politicians should read it but I suspect that they will not. The central message is wealth and prosperity for all at the expense of those who rule and regulate.
Dominic Holland, author and comedian

Thought-provoking and original, anyone concerned how big and bloated government has become must read this book.
Douglas Carswell, MP

Things are so bad that in our time only a comedian can make sense of an economy based on printing money.
Guido Fawkes, political blogger

If youre still keen on revolution, give Brand a miss and have a read of some genuinely fresh ideas from Dominic Frisby his book Life Afterthe State will give you a lot more food for thought than anything Brand trots out.
John Stepek, editor, MoneyWeek

Clear, honest and arguably difficult for an acclaimed economist to mimic The implications for education, healthcare, enterprise and thereby the general well being of society are clearly profound.
Amazon reviewer

This is a well-researched and referenced work, and despite its radical thesis deserves to have a place alongside other serious books on economics and politics. Unlike many of them though, it is readable, entertaining and inspiring. I would even go as far as to say this is a book that could change the world.
Amazon reviewer

The greatest tribute that I can give to Dominic and his book is that my darling wife, who usually falls asleep as soon as the subject of economics comes up, read his book from cover to cover in a single sitting and was most impressed by it. Thank you Dominic.
Amazon reviewer

Quite simply its one of the best, informative, intelligent reads Ive ever had. Dont hesitate, just buy it, read it, and see how our modern world works, or rather doesnt work, with clearer eyes.
Amazon reviewer

This work is revelatory and is essential reading I wish I had had it available as a young man. I have given copies to each of my children (over 16) and hope they read it it will make life so much more understandable to them.
Amazon reviewer

The most important book I have read in a long time. Ive just bought five extra copies, and plan to force it on all I meet, in the manner of a Jehovahs Witness.
Amazon reviewer

2
About the author

Dominic Frisby is, unusually, both a comedian and financial writer.

As a comedian he has been described as viciously funny and inventive by the Guardian; very impressive and very witty by The Times and masterful by the Evening Standard. But his first book, Life After the State, had nothing to do with comedy. Published by Unbound in 2013 to critical acclaim, it is a deadly-serious dismantling of the way societies are run in the West.

Dominic writes an investment column for MoneyWeek and has made numerous popular YouTube videos, including the viral hit Debt Bomb. He has also worked as a TV presenter, a boxing-ring announcer, a florist, a removal man, an extremely camp theatrical agents PA, a sports commentator and a busker. He is a voiceover artist and is an in-demand speaker.

Bitcoin: The Future of Money? is his second book.

3

With special thanks to Carl Holt

4

As always
For Samuel, Eliza, Lola and Ferdie.
I love you all more than life itself.

For
Brian Cartmell,
Duncan Black
and
Wade Smith.

And, of course, for
Satoshi Nakamoto.

5

Pure anonymity provides voice for a wide variety of new kinds of expression that up until now have been suppressed.

Nick Szabo, computer scientistand blogger

Contents
6
Authors Note

I have called this book Bitcoin: The Future of Money? Really, I should have called it Cryptocurrency: The Future of Money?

Bitcoin is just one of many cryptocurrencies (dont worry, Ill explain what that means). It is, arguably, not even the first. But it is the first that works. And it is the one that has caught everyones attention. Rather as people say Scotch tape or Sellotape instead of sticky-back plastic, Bitcoin is the name everybody knows hence my choice of title.

I have quoted extensively from online forums and chat boards. These often contain spelling mistakes and grammatical errors. For the sake of accuracy, I have made the decision to leave these errors uncorrected. Nor have I acknowledged errors with a sic, as I felt this would be both patronizing to those I quote and burdensome on the reader. So, when you come across errors in quoted passages, now you know why.

In researching this book, I have come across entire political and technological movements Id never even heard of, filled with characters I knew even less about. They might be infamous to a small band of computer coders, but not to most people. Whats more, those who discuss Bitcoin and its associated technology quickly slip into technical jargon, particularly regarding computer code. It can make it all rather baffling and, worse still, alienating. If you think finance and economics are hard to write about in a clear way, try computer code with an all-star cast whose names mean absolutely nothing to most people.

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