Bitcoin and the Blind Men

Bitcoin is the best performing asset over the past 10 years; its compound annual growth rate of 196.7% dwarfs all other assets. The S&P 500, at 11.2%, pales in comparison. Despite its stellar performance for more than a decade, it remains a highly divisive asset.

Jack Dorsey, the founder of Twitter and Square, said Bitcoin can help bring world peace. But Janet Yellen, U.S. Treasury Secretary, says otherwise. For her, however, Bitcoin is extremely inefficient, and a growing problem for its role in supporting illegal activity. Her view was supported by Nassim Taleb, the author of Black Swan. Taleb claimed that Bitcoin is worth $0. However, many other prominent figures have predicted that the price of Bitcoin will rise to over $100,000.

Environmentalists, (i.e. those who criticize the use of Bitcoin on the ground of its danger to the environment) however, criticize Bitcoin for its massive waste of energy. Others see Bitcoin as having the potential to save buried energy and encourage the development of green energy.

Like the parable of the elephant and the blind men, everyone experiences a different part of Bitcoin and takes it as the whole truth. But unlike the parable, this book aims to encourage you to develop an awareness of perspective and not jump to conclusions without merging the views of others.

Why are opinions so divided? What is the future of Bitcoin? Should you invest in Bitcoin? How can you manage the volatility without getting burned? These and other important topics are laid out for you in this book.