A Japanese saying has it that even in hell, the Bitcoin speaks, and this remains true to this day. When this cryptocurrency hit the market, it was supposed to transform the money world as the internet changed information, but that was not the case. The virtual currency led to chaos in real world mostly close to the creator of the currency, Satoshi Nakamoto’s backyard.
After Bitcoins invention, Tokyo in Japan was the leader of the world’s largest exchange for the currency, known as Mt. Gox. This was until the company went down with almost half a billion dollars in bitcoin that couldn’t be accounted for eventually. But what happened? The history of the events that took place cites numerous aspects that played a role in the whole crisis.
There are reports of cybercrooks, hackers, absent-minded CEOs, drug dealers and corrupt federal agents among other things. Reportedly, bitcoin is linked with the infamous Silk Road, and there is much to know about Japan’s criminal justice system as well as information on the cost of betting using the devil’s dollar. The book “Pay the devil with Bitcoin by Jake Adelstein sheds light on the factors surrounding the mysterious circumstances in which a half billion dollars vanished into thin air.
About Pay The Devil In Bitcoin Creation & History
This book is said to have originated from more than two years of reporting regarding Bitcoin, which was for The Daily Beast. It is the culmination of what became apparent to the writers over time. Reportedly, it is a dense and quite humorous primer about the cryptocurrency, Japan and the chaos sparked by the currency in the real world.
Besides, it is reported to be about a story of one Mark Karpeles and his crew behind the creation of Mt. Gox, which saw Bitcoin hit the ground running, only to bring it crumbling down later. The exchange collapse hit in 2014 when about half million dollars worth of the coins went missing. This is referred to as the biggest heist in the history of bitcoin, if it can be considered a heist at all.
You can get the information about the virtual currency right from its creation and the trail of events that followed as well as the bad guys who went on the offensive against it in less than 110 pages. The book will also take you off the road a bit to give an insight on the criminal justice system in Japan as well, all going for a price lower than the value of one bitcoin.
Further, Jake goes ahead to give a confession that he bought one bitcoin himself, to understand how it works as he was in the process of writing the book. Better yet, he claims to have sold his BTC and even made a fortune out of it as the cryptocurrencies prices shot over the top recently. Apparently, the book has been much of a hands-on work than it may seem.
Is It Worth The Cost?
Well, if you are really into bitcoin and other cryptocurrency options as well, this can be a great start to get the whole story from the very start to today. Despite the coin’s past, fiat money is still a lucrative business, but there is always something impressing about understanding the background of anything you are getting into, and this is it.