Proof of Money: The Big Idea Behind Bitcoin

What You Don’t Know about Why You Need It

De: Terence Michael

Narrado por: Terence Michael

Bitcoin can grow and secure your wealth for generations.

But the key is knowing how, why, and when.

Get ready to challenge what you think you know about money.

Bitcoin is a better all-in-one investment:

• No monetary debasement
• No intermediaries, brokers, managers
• No rehypothecation
• Full bearer asset you hold
• No need to financialize things you don't care about

Bitcoin is better than stocks and bonds:

• No centralization
• No counterparty risk
• No VIP, IPO, or insider privilege
• No CEO or executive decisions

Bitcoin digitizes gold:

• Makes it portable, divisible, verifiable, frictionless

Bitcoin is the "internet of money":

• 24/7 access, decentralized, permission-less, lightning fast

Bitcoin demonetizes income real estate:

• No maintenance, deterioration, property taxes, tenants, liens
• Liquid, fractional, instant, mobile
• Absolute scarcity and sovereign rights for anyone

Bitcoin revolutionizes money technology:

• Auditable, immutable, transparent, open-source
• Unhackable ledger of value secured by energy

Bitcoin improves the environment:

• Stabilizes electric grids
• Emits zero carbon emissions
• Removes methane and CO2 from others
• Consumes less than 0.1 percent of global energy
• Relies solely on wasted, discarded, stranded, renewable energy

Bitcoin is freedom for eight billion people:

• For the unbanked, oppressed, disenfranchised
• Sees no borders, race, religion, politics, sex, or status
• Equality of opportunity and value for all

Bitcoin is a separation of money from the state:

• Free from confiscation, sanction, manipulation, censorship
• Supports independence, activism, or privacy
• Accountable only to the holder, a bank of the brain

The secret to unlocking Bitcoin is understanding its principles and properties.

Whether you're a seasoned investor or a curious newcomer, this book will transform your relationship with money (and help you gain more of it).

©2023 Terence Michael (P)2023 Terence Michael

Comprehensive. Concise. Thought provoking. Entertaining.

My Bitcoin journey has not only cured me of chronic anxiety but is now a window into a world that few understand and fewer can describe. As a business owner of four decades, I thought I understood money. I now realize I did not. I was going through the motions of compliance with the system intrenched by banks. I knew no other.

In reading about Bitcoin and related materials to satisfy an all-consuming curiosity, I have met some of the sharpest minds, not in person but via the knowledge that they share. Many of whom I feel I know. Filtering garbage improves daily, with deleting incoherent bigots, poor in substance, and sensationalist click-bate grabbers. It is how I discovered “Proof of Work”

It is a pity I did not discover this work earlier with many questions answered sooner. The best writers convey a message in just a few words. Michael is one. He tells a story about complex ideas in ways that are easy to grasp. He is not out to wow with his intelligence or vocabulary, but the content and volume leave no doubt of his proficiency in both. This work is a refreshing departure from the acronyms and slang that Bitcoiners use to appear smart and authentic but frustrate the reader.

Michael delivers the narration of his own writing with the smoothness and skill characteristic of those who have dedicated their careers to the craft. Chapters are unambiguous and subject specific, each layered to provide information that builds for understanding those that follow.

I found the material so stimulating that it made me ponder the subject, often losing out on some of what followed. No problem, this is a book I will listen to in the future.

A lot of work went into this work that, ironically, seems to have slipped beneath the commercial world's radar. I came upon it by chance. I recommend it to all interested in the world of finance, investing and a curiosity about how a better world in all facets could look. Or to glean an understanding of money, not taught in schools, universities, and inconvenient truths withheld from everyday people.

Brings many concepts together nicely

This book was really enjoyable to listen to. The author does a fantastic job explaining in simple terms some very complex ideas. It was educational, while still sounding conversational (even listening to it at 1.2x). I especially loved his take on the petrodollar. I have felt this way for years but haven't heard anybody else hit the nail on the head as was done here. There are so many Bitcoin books, and this is another one. I think that this one in particular would be one that I would recommend to a friend or family member to give them a fairly complete picture of the value of Bitcoin, without being overly technical or preachy.

Synthesized

Proof of Money is a great bitcoin book for any level of Bitcoin understanding! The structure of the book is structured like a true textbook but reads like a story! If you know nothing about money or bitcoin I HIGHLY recommend it. If you already know something about the topic check out the table of contents, there will be something that interests you.

Great information

Everything you need to or want to know about bitcoin is explained well and clearly in this book

Great Book

Thanks Terence for wonderful book!!! Having been in the bitcoin space for 3 years now, I found this book to be very approachable and easy to follow. Most bitcoin books are overly technical and forget who the audience is (normies who are trying to learn about what Bitcoin is and what it does). Terence does an amazing job pulling the myriad of technical concepts that is Bitcoin into mini stories that most will be able to relate too. I highly recommend this book for Bitcoin interested and seasoned Bitcoin individuals, you will not need be disappointed.