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INTRODUCTION

The person who would want to appropriate the name of the creator of Bitcoin in a court of law has nothing to do with it. Otherwise, he would have just written this book. The best thing you can do for an asset you believe in is to widen the circle of people who can appreciate it.

I don’t claim to be a writer of the year. For a very long time, I have been a «knowledge gleaner» like you. Gathering information, data, and experience, I had a lot of «bumps» — all this formed a complete picture of the world called «All about Bitcoin in simple words.» And now, without exaggeration, I can be called a lucky man reaping the fruits of my hard work. I am ready to share this information and experience with you generously. And, perhaps, you may be surprised, but in this field, generosity returns a hundredfold. It is not enough to find gold and fill your coffers with it. It is essential for as many people around you as possible to also realize the genuine value of that gold.

This book is at the same time:

– a history textbook;

– a guide for beginners and experts;

– a book of predictions;

– a key to understanding Bitcoin as a tool that can lead you and the world to its best versions.

What you will get after reading this:

– The most valuable, reliable, and relevant knowledge about bitcoin, blockchain, and cryptocurrencies that I could gather over 8+ years of study, self-development, and constant practice. The publication you hold now will become your Bitcoin board book and your ticket to another prosperous future. Moreover, I would have gladly paid all that I have now for this book eight years ago. And I wouldn’t have missed out. If I had this knowledge eight years ago, my capital would be even greater today. All these years, I have been collecting bits of knowledge, like gold, sifting them from the sand, washing them, and melting them into a shining ingot. Here it is;

– The most significant theses, secrets, and data from gurus in the cryptocurrency and bitcoin market, confirmed by personal experience. I will not «put you on the needle» of courses worth thousands of dollars and keep you dependent on how much information I sold you today or, for marketing purposes, will gift you tomorrow;

– All the things that seem to lie openly available on the web but are of no real value to the inexperienced user. The abundance of information confuses people. You can find ten different answers to one question. I will give one and the right one at every stage.

As a financial visionary, I see tremendous value in showing you the genuine value of the «gold in my coffers» with this book and explaining why you need the same.

N я ow that the Bitcoin network is more powerful than ever and the eponymous unit (Bitcoin or BTC or XBT) is being bought end masse by large companies, the price has become more stable and predictable. And this is the best moment to leave you with my advice.

Bitcoin is entering the phase where some of it is being taken over by corporations. At the same time, it’s money for the average citizen and their protection. Bitcoin’s true purpose is to become a full-fledged international currency.

Having observed the development of the community, in this book, I want to draw a clear line between Bitcoin and all other «coins» right away. Don’t even try to compare, for example, Ethereum and Bitcoin. These are all technologies, but each of them has its task. In the future, though, they may closely interact and complement each other.

I will immediately dispel the popular stereotype that Bitcoin is already too expensive and too late to buy it. It is never too late to buy Bitcoin! Of course, provided you understand the reasoning behind its pricing and make a purchase when it reaches the lower end of its cost.

What does the cost of Bitcoin consist of:

– Cost of electricity. The more expensive oil, gas, and other energy resources are, the higher the bitcoin cost.

– Cost of equipment. The more expensive the hardware, the higher the expenses. Video cards are the most valuable component of modern machines and related technologies.

– Cost of premises. The price of real estate and its arrangement directly affects the increased costs.

– Cooling costs. Video cards need cooling. Maybe in the future, this will change, but right now, it is also included in the Bitcoin cost of production.

– Cost of the internet. The more expensive it is, the higher the costs.

– Maintenance costs. It is the cost of repairs, employee salaries, and owner income.

– Difficulty Ratio. It is an internal unit of measurement whose task is to constantly produce «equipment inflation» when faster equipment is encouraged, and weaker equipment is devalued, helping miners to increase their productivity promptly and always be relevant in the network (Fig.1).

Bitcoin is the sum of all the most valuable resources in one place, expressed in numbers. The worse the current state of the economy, the more expensive the resources and bitcoin. It will always protect you from inflation.

Fig 1. What the cost of Bitcoin consists of

Bitcoin was conceived as a defense against inflation and the devaluation of fiat and revolves around the «energy currency» paradigm. The concept, initially proposed by American industrial titan Henry Ford in 1921, involves backing currency with «units of energy» and creating a new monetary standard known as the «energy standard.» This principle was proposed by the great inventor Nikola Tesla in the early 20th century.

In Ford and Nikola’s vision, the monetary standard was to be immune to control by any international banking group. His aspiration aligns with Bitcoin’s philosophy and finds support from today’s market players. As Kathy Wood once said, «Bitcoin is the insurance everyone will want at the end of the day.»

Bitcoin protects wealth from outright confiscation, inflation, and the risk of loss to third parties (counterparties) in storage or transfer. As cryptocurrencies are adopted and a regulatory framework emerges, interest in Bitcoin will grow arithmetically.

Against this background, I am not without annoyance to see how people react to various manipulative news and make decisions based on the opinions of authors who are unable to prove their competence.

My opinion on this matter is as follows: every article about bitcoin should start with the words «today the minimum international price of bitcoin value according to the graph is equal to…» and only then the text of the author’s material. If you do not see this in the article, the material should be ignored. It is written for hype, search engines, SEO promotion, discrediting Bitcoin, or anything else, but not for transferring information of a really expert level to the user.

The link where you can track the cost of bitcoin mining comfortably can simply follow the link. tradingview.com/chart/yNzt0Ymn

Recently, many significant stockholders and fund owners have been scared about the fall of Bitcoin, but I want to reassure you. They fear the moment when a considerable portion of people realize the value of Bitcoin and begin to exit the stocks of the companies and funds of which they are primary holders.

The stock market will collapse as finance transitions into better money, as will their corporations, and these people, as leaders of their fields, will take two hits at once — they will lose money and cease to be needed. You cannot capitalize on a company indefinitely and also profit from it. There always comes a time when the next «bubble» bursts and the ignoramuses pay the most for it because they lose the last thing, unlike the same corporate owners. They lose everything.

We are not so rich that we can afford to be ignorant. It costs us too much.

Ignorance is a lack of knowledge or low level of education in a specific area, a lack of the required information or understanding of a topic.

It is essential to note that ignorance is not a sign of low intelligence but merely indicates a lack of knowledge on a particular subject. Combating ignorance requires an openness to learning and a desire for self-improvement.

Ignorance has several negative consequences that can be detrimental to the individual and society as a whole. It also creates fertile ground for manipulation of you, your decisions, and, as a result, your money. Subsequently, your capital insures anyone but you.

Ignorance and unawareness also often cause stereotypes, prejudiced views, and new reasons for discrimination. Collective ignorance leads to the backwardness of society, slowing down its development and progress. It can also cause social problems such as unemployment, poverty, and crime. Some issues can go unaddressed for decades because of the failure of society to recognize the extent of their harmfulness, making it challenging to solve them.

This book will give honest and reasoned answers to all your questions about Bitcoin. It will save you from ignorance and protect your capital from manipulative information and actions of authorities, big investors, and funds. The best thing you can do for your future and your children’s well-being is to educate yourself to understand Bitcoin and apply it to better the world through this system.

The author is not paid for extra words. This publication attempts to inform the reader precisely on the stated topic. I have endeavored to maintain factual accuracy but make no guarantee thereof. This book is published for popular enlightenment and entertainment only. It should be clear to the purchaser that the publisher does not provide legal, accounting, financial, or other professional services. Please consult competent professionals if legal or other advice or other expert services are required. Cryptocurrencies and bitcoin are a complex and treacherous area. The author is neither a lawyer nor an expert in any field. The book contains no financial legal advice, including cryptocurrencies and bitcoin. The reader acts at his own discretion. Neither the author nor the publisher accepts any responsibility for any decisions or actions you take supposedly influenced by what you hear or read in this book, especially if you kill someone.