Powerful ideas from top nonfiction
Try Blinkist to get the key ideas from 7,500+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.
Start your free trial
Blink 3 of 8 - The 5 AM Club
by Robin Sharma
Listen to the Intro
Digital Gold summary
Nathaniel Popper
The Untold Story of Bitcoin
14 mins
Brief summary
'Digital Gold' by Nathaniel Popper is a non-fiction book that chronicles the rise of Bitcoin, a decentralized digital currency. It explores the technology behind Bitcoin, the people who developed it and its potential impact on the world of finance.
Topics
Table of Contents
Digital Gold
Summary of 6 key ideas
Audio & text in the Blinkist app
Key idea 1 of 6
Bitcoin is a new kind of money that is created, held and transferred by its users.
On January 9, 2009, a mysterious internet user hidden behind the pseudonym Satoshi Nakamoto brought forward an idea that would change the financial world forever: Bitcoin.
Bitcoin is a digital currency radically different from any traditional cash system. First of all, anyone can get involved by simply downloading its open-source code.
Anyone can look at the code, examine what is happening under the hood, so to speak, and even help make improvements. This contrasts with classic software programs like Photoshop or Microsoft Office, where a closed group of developers build a program whose code only they can see and change.
Another way Bitcoin differs from a typical currency is the total absence of a centralized authority.
Unlike a bank, where each user's holdings and transfers are stored privately, Bitcoin uses a communal database called the blockchain that everyone can see. The blockchain is like a giant public ledger that stores the record of all existing bitcoins and every transaction ever made. But instead of being located in one place, a brilliantly designed mechanism distributes this exact same record to every computer in the Bitcoin network.
As a result, Bitcoin is not as private as the international banking system, where only you and your bank can access your finances. However, there’s also no limit to the amount of Bitcoin accounts, called wallets, that a user can own. And unlike a bank, all you need to create a new wallet is an e-mail address, so anyone can open an account and Bitcoin has the potential to be used totally anonymously.
Bitcoin also updates traditional currencies by integrating powerful encryption techniques into its core. While a lot of cash withdrawals still rely on primitive PIN numbers, Bitcoin uses robust public-key cryptography that not even the most powerful supercomputers can crack.
Public-key cryptography has two components: a private and a public key. When a Bitcoin transaction takes place, the public key is recorded in the blockchain for everyone to see. But only the users who made the transaction have the private keys necessary to decrypt the transaction and access the funds. By using cryptography in this way, Bitcoin is able to bypass centralized security systems like banks.
Want to see all full key ideas from Digital Gold?
Key ideas in Digital Gold
More knowledge in less time
Read or listen
Get the key ideas from nonfiction bestsellers in minutes, not hours.
Find your next read
Get book lists curated by experts and personalized recommendations.
Shortcasts New
We’ve teamed up with podcast creators to bring you key insights from podcasts.
What is Digital Gold about?
Digital Gold (2015) tells the story of the many different individuals – including cypherpunks, nerds, investors, gamblers and visionaries – that contributed to the rise of the world’s most successful cryptocurrency, Bitcoin. The book gives an overview of the way Bitcoin developed, showing how its value rose from nothing to over $1 billion, and telling the story of its troubled early stages.
Digital Gold Review
Digital Gold (2015) by Nathaniel Popper is a captivating exploration of the rise of Bitcoin and the impact of cryptocurrencies on finance and society. Here are three reasons why this book is worth reading:
- Featuring true stories of entrepreneurs and visionaries, it offers a fascinating glimpse into the beginnings of the digital currency revolution.
- With its balanced perspective on the potential risks and rewards of Bitcoin, the book provides a comprehensive understanding of this groundbreaking technology.
- Popper's deep research and clear explanations make complex concepts accessible and engaging, ensuring that readers won't find the subject matter boring.
Best quote from Digital Gold
Privacy is necessary for an open society in the electronic age. - from the Cypherpunk Manifesto, passed along mailing lists in 1993
—Nathaniel Popper
Who should read Digital Gold?
- People curious about the future of money
- Concerned citizens who don’t trust banks
- Anyone selling goods on the internet
Categories with Digital Gold
Book summaries like Digital Gold
People ❤️ Blinkist
Sven O.
It's highly addictive to get core insights on personally relevant topics without repetition or triviality. Added to that the apps ability to suggest kindred interests opens up a foundation of knowledge.
Thi Viet Quynh N.
Great app. Good selection of book summaries you can read or listen to while commuting. Instead of scrolling through your social media news feed, this is a much better way to spend your spare time in my opinion.
Jonathan A.
Life changing. The concept of being able to grasp a book's main point in such a short time truly opens multiple opportunities to grow every area of your life at a faster rate.
Renee D.
Great app. Addicting. Perfect for wait times, morning coffee, evening before bed. Extremely well written, thorough, easy to use.
People also liked these summaries
4.7 Stars
Average ratings on iOS and Google Play
33 Million
Downloads on all platforms
10+ years
Experience igniting personal growth
Digital Gold FAQs
What is the main message of Digital Gold?
Digital Gold explores the rise of Bitcoin and the potential impact of cryptocurrency on our financial system.
How long does it take to read Digital Gold?
The reading time for Digital Gold varies depending on the reader's speed. However, the Blinkist summary can be read in just 15 minutes.
Is Digital Gold a good book? Is it worth reading?
Digital Gold provides an insightful look into the world of cryptocurrency, making it worth reading for those interested in understanding Bitcoin's impact.
Who is the author of Digital Gold?
Nathaniel Popper is the author of Digital Gold.
What to read after Digital Gold?
If you're wondering what to read next after Digital Gold, here are some recommendations we suggest:
- The Promise of Bitcoin by Bobby C. Lee
- Ethereum by Henning Diedrich
- The Age of Cryptocurrency by Paul Vigna and Michael J. Casey
- The Bitcoin Standard by Saifedean Ammous
- 2030 by Mauro F. Guillén
- How to Talk to Anyone by Leil Lowndes
- Cryptoassets by Chris Burniske and Jack Tatar
- Blockchain Revolution by Don Tapscott and Alex Tapscott
- The Anarchy by William Dalrymple
- The 48 Laws of Power by Robert Greene