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The only reason why you don`t own Bitcoin is that you don`t know enough about it…
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The only reason why you don`t own Bitcoin is that you don`t know enough about it…
Bozhenko Oleh
This book is intended to explain all the questions that may arise for those who want to understand the world of Bitcoin. From its essence to the potential opportunities for you, here you will find answers to fully acquaint yourself with this technology and its potential. Written in simple language, accessible to both beginners and experienced experts. This book is one of the best investments in you after Bitcoin.
The only reason why you don`t own Bitcoin is that you don`t know enough about it…
Bozhenko Oleh
© Bozhenko Oleh, 2024
ISBN 978-5-0062-0259-7
Created with Ridero smart publishing system
© Copyright by Oleh Bozhenko 2023 – All rights reserved.
The content contained within this book may not be reproduced, duplicated or transmitted without direct written permission from the author or the publisher.
Under no circumstances will any blame or legal responsibility be held against the publisher, or author, for any damages, reparation, or monetary loss due to the information contained within this book. Either directly or indirectly. You are responsible for your own choices, actions, and results.
Legal Notice:
This book is copyright protected. This book is only for personal use. You cannot amend, distribute, sell, use, quote or paraphrase any part, or the content within this book, without the consent of the author or publisher.
Disclaimer Notice:
Please note the information contained within this document is for educational and entertainment purposes only. All effort has been executed to present accurate, up to date, and reliable, complete information. No warranties of any kind are declared or implied. Readers acknowledge that the author is not engaging in the rendering of legal, financial, medical or professional advice. The content within this book has been derived from various sources. Please consult a licensed professional before attempting any techniques outlined in this book.
By reading this document, the reader agrees that under no circumstances is the author responsible for any losses, direct or indirect, which are incurred as a result of the use of the information contained within this document, including, but not limited to, – errors, omissions, or inaccuracies.
Leave a review about our book:
As an independent author with a small marketing budget, reviews are my livelihood on this platform. If you enjoyed this book, I’d really appreciate it, if you left your honest feedback. You can do so by clicking review button.
I love hearing my readers and I personally read every single review!
TABLE OF CONTENTS
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.
Bozhenko Oleh
This book is intended to explain all the questions that may arise for those who want to understand the world of Bitcoin. From its essence to the potential opportunities for you, here you will find answers to fully acquaint yourself with this technology and its potential. Written in simple language, accessible to both beginners and experienced experts. This book is one of the best investments in you after Bitcoin.
The only reason why you don`t own Bitcoin is that you don`t know enough about it…
Bozhenko Oleh
© Bozhenko Oleh, 2024
ISBN 978-5-0062-0259-7
Created with Ridero smart publishing system
© Copyright by Oleh Bozhenko 2023 – All rights reserved.
The content contained within this book may not be reproduced, duplicated or transmitted without direct written permission from the author or the publisher.
Under no circumstances will any blame or legal responsibility be held against the publisher, or author, for any damages, reparation, or monetary loss due to the information contained within this book. Either directly or indirectly. You are responsible for your own choices, actions, and results.
Legal Notice:
This book is copyright protected. This book is only for personal use. You cannot amend, distribute, sell, use, quote or paraphrase any part, or the content within this book, without the consent of the author or publisher.
Disclaimer Notice:
Please note the information contained within this document is for educational and entertainment purposes only. All effort has been executed to present accurate, up to date, and reliable, complete information. No warranties of any kind are declared or implied. Readers acknowledge that the author is not engaging in the rendering of legal, financial, medical or professional advice. The content within this book has been derived from various sources. Please consult a licensed professional before attempting any techniques outlined in this book.
By reading this document, the reader agrees that under no circumstances is the author responsible for any losses, direct or indirect, which are incurred as a result of the use of the information contained within this document, including, but not limited to, – errors, omissions, or inaccuracies.
Leave a review about our book:
As an independent author with a small marketing budget, reviews are my livelihood on this platform. If you enjoyed this book, I’d really appreciate it, if you left your honest feedback. You can do so by clicking review button.
I love hearing my readers and I personally read every single review!
TABLE OF CONTENTS
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.
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