Crypto Decrypted
Debunking Myths, Understanding Breakthroughs, and Building Foundations for Digital Asset Investing
1. Auflage Mai 2023
304 Seiten, Hardcover
Sachbuch
Weitere Versionen
Break through your "crypto curiosity" and uncover why blockchain innovation will revolutionize our economy, culture, and the future of investing--as well as how to navigate it safely.
Between the booms, crashes, jargon, and flashy memes, blockchain technology and digital assets have not been easy for ordinary investors to understand. Hopeful investors in blockchain, digital assets, and crypto everywhere have a lengthy list of questions--and the list keeps getting longer and more nuanced. But who do they turn to for answers?
In Crypto Decrypted, Tradecraft Capital's Jake Ryan and James Diorio decrypt a new world that is hidden in plain view, accessible currently to folks "in the know." This book is for anyone who finds themselves lost in the blockchain babble, exploring and explaining not only how to participate, but the often overlooked reasons why this new technology is relevant to every human being.
Ryan and Diorio dive in deeply, debunking common myths, clarifying major breakthroughs that are often disregarded, and providing easy-to-understand answers for both crypto newbies and blockchain enthusiasts, so they can move beyond the short-term to explore what great opportunities lie ahead for blockchain technologies while providing approaches to investing more safely and soundly so that you too can profit from this technological revolution.
You will learn:
* The basics of blockchain technology, which will allow you to better navigate this new world.
* The truth that debunks the six most common myths about crypto and blockchain.
* What the Byzantine Generals' Problem is, why it is important, and how it will impact your future.
* Why blockchain technology is so important and how it is relevant to you--yes, you!
* The ways in which blockchain innovation will transform our financial systems, our economy, and society itself.
* How to participate in lower risk approaches in investing in digital assets to diversify your retirement portfolio.
* Why the Information Age is over and that we've already begun a new long-wave economic cycle, the Age of Autonomy(r) , what the Autonomous Economy will look like in the coming years, and how it will impact us.
Just as the internet revolutionized our world decades ago, blockchain technology will impact every person and businesses on the planet- for the better - in the decades to come.
Part ii - Introduction iii
Part iii - Note from the Authors v
PART ONE - THE PRIMER 1
Chapter 1: What's the Big Deal About Blockchain? 1
A Blockchain is a Specialized Database 4
Decentralized 6
Immutable 7
Transparent 8
Cryptographically Secure 9
Non-Money Examples of Blockchain Technology 11
Decentralized Finance 11
Supply Chain Management 12
Additional Examples 13
Blockchain Technical Components 14
Transactions 14
Blocks 15
Hash / Hashing Function 16
Miners and Proof-of-Work Consensus 17
Block Rewards 19
Aligned Incentives 20
Other Consensus Mechanisms 21
Chapter 2: Bitcoin, the First Application of a Blockchain 24
What's Unique About Bitcoin 29
A Global, Public Payments Network 31
Public Versus Private 32
Economic Empowerment and Bitcoin 33
A Regulatory Head Start 35
Bitcoin vs. bitcoin 36
Getting Started with Bitcoin 36
Exchanges 37
Your Wallet 39
PayPal and Other Secure Options 41
Bitcoin ATM 41
On Risk 42
Know Your Risk Envelope 43
Chapter 3: What Makes a Smart Contract Smart? 45
What is a Smart Contract Platform? 45
Smart Platform Convergence: The Foundation of the Age of Autonomy 47
Smart Contracts & The Supply Chain 48
The Evolution of the Contract 49
How Can We Benefit from Smart Contract Applications? 51
Banking "Know Your Customer" Regulations 52
Real Estate Transactions 52
Insurance 53
Transparent Auditing 55
Voting and Democracy 55
Health Care Industry and Health Care Management 55
Intellectual Property and Content Creators 57
Integration with the Internet of Things (IoT) 58
Chapter 4: What is DeFi? 60
The Wild West 61
Banking for the Bankless 62
DeFi and CeFi: Odd Bedfellows 63
Lending, Borrowing & Yield 66
Decentralized Exchanges (DEX) 67
Derivatives 68
DeFi and Governance Tokens 69
Chapter 5: Metaverse, NFTs & Web 3.0 72
The ABCs of NFTs 73
Not Just Art 75
The Metaverse 77
MANGA and Mainstream Adoption 79
Web 3.0 84
PART TWO - DEBUNKING MYTHS 88
Chapter 6: Myth - Regulation Will Kill Crypto 90
The Sticking Point 91
Crypto Classification: Security vs. Commodity 92
Howey Test 93
Consider Similar Analog Assets 94
Commodities--Looking at "The What" 94
The Punchline 95
Chapter 7: Myth - Crypto Is a Bubble 97
Spring Follows Winter 100
Do You Believe in Technology? 101
Of Course It's a Cycle! 104
Centralized Crypto Exchange Celsius Melts Down 105
Professor Krugman Is (Still) Wrong 107
Our Silver Lining Playbook 111
The Amazing Merge 113
Chapter 8: Myth - Crypto Is Bad for the Environment 117
Bitcoin Energy Consumption 117
Blockchain Technologies and Climate Mitigation 123
Chapter 9: Myth - Crypto is a Fraud 126
Watchdogs On the Hunt: the SEC Putting Scammers on Notice 128
Risk Management and Red Flags 131
Don't Do Stupid Stuff 138
Chapter 10: Myth - Crypto Empowers Crime 140
The Internet is a Criminal Battlefield 144
Tracing the Untraceable 145
Ransomeware? Ransomthere! 145
Not Hiding in Plain Sight 147
Everyone Evolves 148
PART THREE - THE BREAKTHROUGH 150
Chapter 11: A Primer on Technological Innovation 150
Converging Technologies - Innovations in AI, IoT and Robotics 154
Artificial Intelligence 154
The Internet of Things and Sensors 156
Robotics 157
Vision, Image Processing and Autonomous Motion 158
From Automation to Autonomy 159
The Crucial Connector: Smart Contracts, Protocols and Platforms 160
Putting It All Together 160
Chapter 12: The Byzantine General's Problem 162
Some Other Top Computer Science Problems 162
What is BGP and Why is it So Important? 164
How Bitcoin Solved BGP 165
Bitcoin, a peer-to-peer electronic cash system 166
Other Applications of P2P Consensus 167
Show on BBC called 'Fake or Fortune' Illustrates the Problem 167
Chapter 13: Peer-to-Peer Models 172
Computer Networking 174
Easy File Sharing 176
Reduced Costs 180
Adaptability 181
Reliability 183
Chapter 14: Trusting Trustless Transactions 186
The Trust-Minimized Advantage 188
Open-Source Software 189
Chapter 15: No Permission Required 191
The Permission Monster 191
The Permissionless Solution 193
The Game, Changed 195
Chapter 16: Digital Scarcity 200
Provable Scarcity 201
Digital Scarcity - The New Frontier 203
The Case for Money 204
The Case for Goods 205
Scarcity in The Metaverse 206
NFTs - Provable Uniqueness 207
Chapter 17: A New Decentralized, Autonomous Economy 209
Sound Money, Required but Not Sufficient 210
Financial Capital Vs. Production Capital 210
Production Capital Supporting the Autonomous Economy 211
DAOs and DACs- a New Structure for Human Organization 211
Smart Contracts & Autonomous Protocols 212
Autonomous Governance 212
The Autonomous Economy Realized 215
New Tools Create New Possibilities 215
New Types of Owners & Ownership 216
Chapter 18: Liquid Venture 218
A Cautionary Tale 219
Crypto Assets Revolutionize Investing 220
A New Name, A New Game 221
Other Advantages 222
Risks Still Exist 223
Get Rich Slow 224
PART FOUR - THE APPLICATION 226
Chapter 19: Signals v. Noise 227
All that Glitters is not Gold 227
Sound Assets 230
What makes a crypto asset valuable 230
USP 231
Moat 233
Team 234
Market Capitalization 235
Acceptance 236
Scarcity 237
Regulatory Risk 239
Putting it All Together 243
Chapter 20: Interpreting Charts 244
On-Chain Metrics 245
Basic Trend Analysis 247
Advanced Analysis 247
Advanced Metrics 250
Technical Analysis 251
Basic Indicators 252
Advanced Indicators 256
Charting Tools 258
If Nothing Else, Dollar Cost Average 258
Chapter 21: Crypto as Diversification in a Total Portfolio 260
Safe-haven Assets - Gold and Bitcoin 261
Generating Alpha - Market-Beating Returns 261
Measuring Risk-adjusted Returns 266
Adding Bitcoin to a Total Portfolio 268
Chapter 22: Savings, Borrowing, Income Strategies & Taxes 270
Taxes 270
Saving 271
Borrowing 274
Income Strategies 275
Chapter 23: Retirement 277
Ways to Invest in Digital Assets in Retirement Accounts 278
Self-Directed IRA / Roth IRA Investing Directly with Digital Assets 278
Using Options and Futures Accounts 278
Investing with Single Asset Trusts 279
Crypto Hedge Funds and Venture Funds for Qualified Investors 280
No '40-Act' Spot ETFs (Yet) 281
Chapter 24: Looking Ahead 283
The Future of the Metaverse 283
Play in the Metaverse 284
Work in the Metaverse 285
Play-To-Earn Evolved 286
The Future of Sovereign Data 287
The Future of Money 288
The Future of the DAO 290
The Future of Companies 292
Practical Examples 293
Getting a Job (Contract) 294
Making an Investment 295
The Technology Exists Today 297
What's Next? 298
JAMES DIORIO is the Chief Executive Officer of Tradecraft Capital. He is a serial entrepreneur, speaker, and executive with a foundation in computer science and a history of guiding ventures to realize their full potential. He is the author of the Crypto: Decrypted(r) monthly blog, which focuses on education, insights and providing clarity in this often-misunderstood space.
