A Beginner's Guide To Bitcoin

*as it appears on TalkingPulp I first discovered Matthew R. Kratter when, on a whim, I picked up his book A Beginner's Guide to the Stock Market. After reading that, I started following his channel on YouTube and as he delved more into cryptocurrency, specifically Bitcoin, he became just one of two channels that I actually listen to and take their insight seriously. The other channel is Crypto Tips, for those who might be wondering. Kratter's stock market book was rather good so when he announced this one, I was pretty excited. So this is a pretty short book and in fact, I read it in a single sitting. However, for something only 60 or so pages, it is chock full of not just useful information but great information. Kratter knows Bitcoin exceptionally well and this is, hands down, the best book I've read on the subject, as it takes something that is complex and overly technical to the average person and explains it very simply and thoroughly. My favorite part of the book was the section where he answers common questions and dispels common myths and concerns. While I'm 100 percent on board with Bitcoin, there are still worries I've had, even keeping up on it for almost a decade now. Kratter put some of those real concerns at ease and this is something that I'm sure I will continue to reference, as time goes on. I enjoyed this so much and thought it was pretty close to perfect that I also got copies for friends who are interested in the crypto space but very apprehensive about it, even though they see my success with it. Frankly, this past week has exposed major flaws and deep corruption in the Wall Street system, as hedge funds have fallen to Redditors with an axe to grind. DeFi is the way of the future and the true road towards freedom. There isn't a better time than now to get on board. This book will help you get there. Rating: 9.5/10 Pairs well with: Matthew R. Kratter's other books, online courses and his YouTube channel Trader University.

I am new to all this, but your book was an exciting intro to the bitcoin subject! Thanks for your effort to make the bitcoin topic understandable.

This is a great overview of bitcoin that I have recommended to several friends. I like how it gives a short history of money to put bitcoin into context. This book does a great job of describing the true potential of bitcoin as a revolutionary store of value and possibly a replacement current for the fiat money system. I do wish the book went into a little more detail on the mechanics of bitcoin and what mining and the blockchain is, but I understand the book is meant to be a short read. Since I have watched almost all of Matt's YouTube videos on bitcoin I didn't really learn much that I hadn't already known, so for those that don't want spend 10 hours watching all those videos, this is a great read because it summarizes a lot of what he said in the past. Thanks Matt!

I have been following Matt Kratter on YouTube for a while now. I have also corresponded with him via Email. I can tell you first hand he is one of the more honest and helpful investment personalities gurus you can find. His videos are well worth your time. I have read multiple books from Matt, and just finished: A Beginner's Guide To Bitcoin. Bitcoin has been on a pretty big upswing lately as more institutions and people begin investing in it. That is where this book comes in handy; it is a "beginners" guide, so it is very easy to read and understand. Matt breaks the chapters down into six manageable but important topics: 1. Is Bitcoin Actually Money 2. Price Targets For Bitcoin 3. Common Bitcoin Myths 4. How To Buy and Store Bitcoin 5. The 10 Commandments of Bitcoin 6. The Bitcoin Revolution Is Here Each chapter is a "bite-size" nugget you can quickly read and get a clear description of the content. The chapters I liked the most are chapters 2, 3, and 4. In chapter 2, Matt clearly explains where he thinks Bitcoin is headed and has multiple supporting sources to "backup" his belief. Chapter 3 is a very good chapter for beginners because it addresses the myths surrounding Bitcoin, myths you may have heard yourself. And finally, chapter 4 discusses the different ways Bitcoin is bought and stored. This is an important chapter to read and understand especially as your portfolio increases in value. Here is a recent headline about a person who lost 220 million worth of Bitcoin: "German-born programmer Stefan Thomas made headlines this week after a lost password rendered his bitcoin stash worth $220 million inaccessible. As Insider earlier reported, the secure hard drive, on which 7,002 bitcoins were stored, was an IronKey device." Once you read chapter 4 you know how to avoid this with your own Bitcoin. Matt, also gives you many bonus articles he could not fit into the book, and they alone could be a book in themselves. You can't go wrong with this book whether you are a Bitcoin beginner or intermediary. Heck, you probably could learn a few things even if you're an experienced Bitcoinner.

The book does provide some good insight for anyone new to BTC but it is presented from a maximalist perspective. While it does a good enough job of explaining Bitcoin, it does present some very misleading information about Bitcoin. One example is network fees of using Bitcoin. The fees can be extremely expensive but Kratter fails to acknowledge this by giving one off examples. Bitcoin is not a payment solution and can be very expensive to use which is why he often refers back to Bitcoin as a store of value instead of a payment system. Bitcoin is a failed payment system and will never work as one even though maximalists insist it will someday with the Strike network. Kratter mentions XRP which is actually a far superior technology to Bitcoin and it is not centralized like he states. This is a flat out lie and does an injustice to the uniformed and newbies. Bitcoin is also not scalable. This is a fact. Bitcoin was touted as a payment system to buy a cup of coffee but it has failed at the use case, hence the “store of value” narrative has won out. But I see nothing wrong with that. I wouldn’t buy a cup of coffee with gold, so why would I use BTC? BTC can be hacked by a 51% attack. Although unlikely, it can be if there is a concentration of miners and validators. Transactions can be reversed or prevented from from being confirmed. Overall I thought it was a good book but provided some misleading information that only people with a decent amount of knowledge about the crypto space would be able to identify. Because of that I would not recommend this book to beginners. If Kratter removed his personal maximalist bias from the book, I would give it five stars. Unfortunately he wrote a Bitcoin indoctrination book for the uneducated. That’s too bad because if there is one thing that the crypto space suffers from is massive tribalism and that does not help the space to expand to new investors. Disclaimer: I am a big fan of Bitcoin and many other digital assets but I recognize that each asset brings a unique use case or utility which does not make it a bad asset to hold. Not every asset can be great at every use case and Bitcoin is certainly no exception. Do your own research but please don’t limit yourself to buying only Bitcoin. There are many other crypto assets out there that can and will be considered “stores of value.” I liken Bitcoin to a classic car; it may be worth a lot of money and look nice but classic cars don’t exactly have the most up to date technology or creature comforts.

It was a quick and to the point read with enough information to get started. It was not bogged down with a bunch of technical terms. Lots of things to highlight and further research.

I read this book in just one day. I have to say, it’s a must-have in today’s world. The step-by-step guide on how to buy, store, and keep Bitcoin safe offers an honest pathway for people who have no idea what’s going on. I had never thought of Bitcoin as a store of value, and I must say—this concept completely changed the way I see it. I've now added it as another asset to help keep me on track. Very easy to understand, very straightforward, and truly a manual.

I have been following Matt on YouTube for almost 4 years now, and I have read his other books. I find his videos very enlightening and engaging. This book is a good summary of several of his videos about Bitcoin. I was a doubter as I was one who bought into Bitcoin in 2017 at $18K and experienced "the drop" and written it off as a fool's errand. In March '20, his arguments convinced me to give it another look and I am very glad I did. I highly recommend this book as a primer about Bitcoin, but I also recommend to look back into Matt's prolific YouTube archive for a more in depth analysis.