A remarkably cleareyed assessment of bitcoin’s virtues and vices.
The rising popularity of bitcoin, invented in 2009 by the enigmatic Satoshi Nakamoto, has only been equaled by its persistent mischaracterization by supposed experts, according to debut author Russell.
A lack of understanding of bitcoin has led some financial giants like Warren Buffet to dismiss it as a tradable asset, preferring to view it as merely another digital payment delivery system. The author contends, however, that, properly understood, bitcoin meets all the conventional criteria for currency. It’s portable, divisible, of limited supply, and functions both as a medium of exchange and a store of value. In fact, bitcoin is essentially “cash for the Internet.” As far as bitcoin’s value is concerned, it’s determined much like any other currency—an amalgam of market factors and the simple fact that people decide it has value. One of the chief points of bitcoin’s attractiveness is its independence. It’s ungoverned by a central bank, single corporate entity, or nation, and even its open-source software is meritocratically superintended by freelance developers. And it operates without the burden of capital controls or any intermediary arbitrarily postulating rules about the kinds of transactions permissible. The author explains, using step-by-step instructions, how to acquire and use bitcoin, including the establishment of a secure online identity. And since public discourse regarding the currency is so often clouded by ignorance, Russell furnishes a list of credible and enthusiastic advocates, including Bill Gates, Ashton Kutcher, and Al Gore. The writing here is consistently accessible, mercifully so when discussing the more technical aspects of bitcoin, like the nature of its creation and distribution. Also, while the author is an unabashed enthusiast of the currency, he also discusses some of its weaknesses; for example, since it suffers from greater price volatility than other major currencies, it doesn’t serve well as a unit of account. Further, Russell expertly explains the different advantages and disadvantages of bitcoin from the perspectives of both retailers and consumers. It’s hard to imagine a more seamless combination of theoretical description and practical counsel.
A remarkably cleareyed assessment of bitcoin’s virtues and vices.Pub Date: Oct. 28, 2017
ISBN: 978-1-77505-450-4
Page Count: 202
Publisher: CreateSpace
Review Posted Online: Dec. 14, 2017
Kirkus Reviews Issue: Feb. 15, 2018
Review Program: Kirkus Indie
This is not the Nutcracker sweet, as passed on by Tchaikovsky and Marius Petipa. No, this is the original Hoffmann tale of 1816, in which the froth of Christmas revelry occasionally parts to let the dark underside of childhood fantasies and fears peek through. The boundaries between dream and reality fade, just as Godfather Drosselmeier, the Nutcracker's creator, is seen as alternately sinister and jolly. And Italian artist Roberto Innocenti gives an errily realistic air to Marie's dreams, in richly detailed illustrations touched by a mysterious light. A beautiful version of this classic tale, which will captivate adults and children alike. (Nutcracker; $35.00; Oct. 28, 1996; 136 pp.; 0-15-100227-4)
Pub Date: Oct. 28, 1996
ISBN: 0-15-100227-4
Page Count: 136
Publisher: Harcourt
Review Posted Online: May 19, 2010
Kirkus Reviews Issue: Aug. 15, 1996
BOOK REVIEW
BOOK REVIEW
An extravaganza in Bemelmans' inimitable vein, but written almost dead pan, with sly, amusing, sometimes biting undertones, breaking through. For Bemelmans was "the man who came to cocktails". And his hostess was Lady Mendl (Elsie de Wolfe), arbiter of American decorating taste over a generation. Lady Mendl was an incredible person,- self-made in proper American tradition on the one hand, for she had been haunted by the poverty of her childhood, and the years of struggle up from its ugliness,- until she became synonymous with the exotic, exquisite, worshipper at beauty's whrine. Bemelmans draws a portrait in extremes, through apt descriptions, through hilarious anecdote, through surprisingly sympathetic and understanding bits of appreciation. The scene shifts from Hollywood to the home she loved the best in Versailles. One meets in passing a vast roster of famous figures of the international and artistic set. And always one feels Bemelmans, slightly offstage, observing, recording, commenting, illustrated.
Pub Date: Feb. 23, 1955
ISBN: 0670717797
Page Count: -
Publisher: Viking
Review Posted Online: Oct. 25, 2011
Kirkus Reviews Issue: Feb. 1, 1955
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