Kripto Hakkındaki Gerçekler: Bitcoin, Blockchain, NFT'ler ve Diğer Dijital Varlıklar

by Ric Edelman, Pınar Başar (Translator)

Finans uzmanı Ric Edelman, yatırım stratejilerinin en yeni yöntemi kripto para hakkında bilmeniz gereken her şeyi anlaşılır bir biçimde anlatıyor.

Bitcoin ve blok zinciri kavramları küresel finans sistemini giderek yepyeni bir şeye dönüştürüyor. Blok zinciri teknolojisinin 2030 yılına kadar dünyanın 80 trilyon dolarlık ekonomisine 2 trilyon dolarlık katkıda bulunacağı tahmin ediliyor. Bu teknoloji ve onu mümkün kılan dijital varlıklar, internetin icadından bu yana gördüğümüz en büyük yenilik!

Çoğu yatırımcı ve yatırım danışmanı ne bu teknolojinin ne de mümkün kıldığı yatırım fırsatlarının yeterince farkında. Ric Edelman, bu yeni yatırım piyasasında neler yapılabileceğini bize anlatırken kavramları en başından, bitcoin’in ne anlama geldiğinden başlayarak, blok zincirinin nasıl çalıştığını, dijital para birimi ve dijital varlık arasındaki farkları ve bu alana dair bilinmesi gereken diğer her şeyi açıklamakla kalmıyor, ayrıca bu yeni varlık sınıfı hakkında oldukça pratik tavsiyeler de veriyor.

Yatırım dünyasında geride kalmak istemiyorsanız bu kitabı mutlaka okumalısınız!

“Ric, kapsamlı ve sürekli gelişen bir konuyu mümkün olan en geniş kitle için erişilebilir hale getiriyor. Kripto Hakkındaki Gerçekler kolay anlaşılır ve elinizden düşmeyecek bir kitap. Sadece bireysel yatırımcılar değil aynı zamanda yasa koyucular, düzenleyiciler, mali danışmanlar ve vergi uzmanları da kesinlikle okumalı.”
–Gary L. Perlin, Dünya Bankası Eski Finans Direktörü

“Ric bir kripto uzmanı, blok zincir şampiyonu ve dijital varlıklara nasıl yatırım yapılacağı veya yapılmayacağı konusunda başvurulacak kişidir. Konuya hakimiyeti ve sağduyulu yaklaşımı göz önüne alındığında, bu tüm yatırımcılar ve finansal planlamacılar için mutlaka okunması gereken bir kitap.”
–Mitchell Dong, Pythagoras Investment Management

“Kripto Hakkındaki Gerçekler, tarihteki en büyük ekonomik yeniliklerden birini temsil eden dijital varlıkların ve blok zinciri teknolojisinin anlaşılabilir ve kapsamlı bir özeti. Özellikle finans danışmanları tarafından mutlaka okunmalı!”
–David Canter, Fidelity Investments

Genres: Finance, Nonfiction, Business, Economics, Technology, Audiobook

368 pages, Paperback

Published May 17, 2023

Reviews

[Louise · Rating 5 out of 5]

This book is, as the blurb on the cover says, “a practical, easy to understand guide to bitcoin, blockchain, NTFs and other digital assets”. While conversational in approach, it is a reference book with clear chapter and paragraph headings, bullet pointed facts, charts, graphs, a glossary and a good index.

While the currencies (aka digital assets), the blockchain technology and the infrastructure that supports them are described,the book is mainly about their global financial impact with the focus on what an individual needs to know before investing in them.

Dismissed by Jamie Diamond and Warren Buffet as recently as 2021, digital currencies have now permeated the top institutions of finance. Ric Edelman shows the worldwide impact and jaw dropping pace of growth of these currencies. National banks in the US, Japan, Canada and other developed nations are planning to issue digital currencies for very good reasons. Portfolios in top investment firms now include digital assets.

The book also describes the services that support digital assets, such as their trading platforms, data mining operations, marketing (an impressive list of celebrities now have major endorsement contracts) and their “custodial” care. There are investment vehicles specializing in some of these supporting services.

There are 4 pages listing digital asset exchanges, some of which you can not only trade on, but invest in. There is a 9 page listing of hedge funds, VC funds and“funds of funds” that specialize in blockchain and digital assets. There is a list of 6 publically traded data mining companies. There are descriptions of derivatives and other investment vehicles. There is a whole chapter on taxation including estate planning.

There is a lot of useful and eye opening information. Ric Edelman shows how institutionalized digital currency has become … it is not a fad. While the "big money" has been made, there are still growth opportunities - and despite the growth the the "product" (the digital assets) all come with risk.

If you want to learn about crypto (even if you are not interested in investing) this is a good place to start.

[Jess · Rating 3 out of 5]

Strange to read - as someone who has a big anticapitalism bias in reading about economics, this definitely reads as as weird conservative/libertarian fantasy (currency that the gov't/FICA is far removed from, but will still step in when bitcoin is stolen, etc). I learned a lot, but there's a big argumentative slant to convincing the reader that its a worthwhile investment (also opening with disclosure that it will make the writer a ton of money because of his particular investments/advertising agreements), and most of the arguments dont land. It's not clear how this can be "currency" - since it cant be exchanged for many goods and services, its more like a poker chip, which is an anology the author uses - theres also an argument that this has an accessibility that other money doesnt, but thats mostly mentioned and dropped to talk about big investment payoffs and increased price/demand. Certainly feel like I have a better understanding of Bitcoin specifically (and Dogecoin?), but there's so many circular or specious arguments parts of it are a bit dizzying. Also obviously so much is happening because it is a new industry I know at least some of what I learned is outdated, but again a solid 101.

[Trace Nichols · Rating 3 out of 5]

Good overview of crypto currency et al., but already dated. how can it not been with such a volatile market, where today it is plunging into the abyss. Nuts, really. But this is a decent primer for understanding the groundwork.

[Fred Forbes · Rating 4 out of 5]

Normally if a book is entertaining and informative, I'll give it 5 stars. This book has those characteristics but I'm judging it a 3.5 since it is repetitive, often a laundry list of websites and organizations, and seems to be a big plug for the "Digital Assets Council of Financial Professionals", DACFP (which Edelman founded as shown throughout the book. And pretty much a relentless plug to buy "crypto" since obviously if you own it you want folks to drive up the price by buying more.

While "blockchain" technology is impressive and certainly has some interesting and useful characteristics the actual crypto still seems to have "no there, there". Personally, I prefer asset classes that are actually based on something more than being "mined" to verify previous purchases through weird algorithms.

I would often suggest to clients that wanted to trade individual stocks or jump into some speculative venture that they determine how much of their investment assets they are willing to lose (rarely more than 5%) and set that aside as their "play money", and leave the serious money in a more traditional portfolio. So, I tend to agree with Edelman when he suggests you limit your holdings to about 1% of your investments. He also warns folks away from Dogecoin (Doggy Coin) which was launched as a joke yet still managed to attract purchasers - calls it "a digital pet rock" in the glossary.

I enjoyed the cartoons, the well done explanations, the range of topics from taxation to asset classes and historical performance and feel if one wants to study a bit before jumping into "crypto", this is a pretty good place to start.

[Jim Choumas · Rating 5 out of 5]

Very educational for those that want to learn more about digital currencies. I highly recommend reading this book and Ric makes it easy to understand for those that are not well versed in crypto. This book goes deep and wide and touches all the different aspects from the basics of block chain technology, all the different acronyms to even tax considerations.

[Anthony Lin · Rating 5 out of 5]

Great book, one of the best crypto books because it provides real-world applications of crypto to your portfolio for a diversified portfolio. Learned tax implications of digital assets as well.

[Buddy Scalera · Rating 5 out of 5]

A breezy, conversational explanation of Bitcoin, NFTs, and other digital assets. The author is a financial writer who knows how to make learning enjoyable. The examples are clear and sometimes very funny. It's a challenging topic, but the author takes a lot of time in the beginning to explain the core concepts. He doesn't try to convince you, but he does provide a clear arguement about cryptocurrency.

[june3 · Rating 3 out of 5]

Ric Edelman is clearly a Bitcoin enthusiast. He is of course entitled to be so. However, for those of us looking for some insight and information, this book is not it. His tone - I've seen the light and anyone who has not is clearly stupid and uninsightful - was somewhat annoying.

PS...while he lauds the "Bitcoin Revolution" in El Salvador, the NY Times provides us with some critical followup on this:

https://www.nytimes.com/2022/07/05/wo...

[Sami · Rating 5 out of 5]

A must read for someone who want to understand digital assets

Cannot stop reading since I started the book: exhaustive and simplified book on how best to approach cryptocurrencies as an investor. By finishing reading the book, you will have a more objective assessment on digital assets!

[Patricia · Rating 4 out of 5]

Well written and informative. I like the bit of humor thrown in. It was a bit more than I expected, but that's better than not enough.

[melbourne · Rating 2 out of 5]

A helpful read to make more sense of digital currencies but there are some glaring biases. Informative but more so for the potential investor.

[Thomas Maluck · Rating 2 out of 5]

Some useful info about tax and legal treatments of crypto, but still not a convincing case for including it in one's portfolio, in my opinion.

[Jeff · Rating 5 out of 5]

I first heard about Bitcoin in 2012 and then again heard murmurs about it occasionally over the years. Furthermore, I also kept hearing that it's a scam/a pipe-dream/a fantasy/flat earth silliness, but most especially, that it was the next "Tulip Bubble". I have continually heard about its imminent demise since my first exposure to the idea of Bitcoin and the blockchain. And yet, not only is it still here, but Bitcoin's value continues to bounce between higher lows and higher highs. The overall trend in the price of Bitcoin is higher. But, is it the "greater fool" theory at work?

Bitcoin first started in 2009. Fast forward to January 2024. The SEC announces the approval of the first Bitcoin ETF's to be offered in the United States. This milestone is what convinced me I need to get up to speed on this thing. These new ETF's have broken and surpassed the highest sales records set by gold ETF's when they were first introduced. Showing how much pent-up demand there is for this, Billions of $Dollars are pouring into the various Bitcoin ETF's at a record pace. Now your 401K and IRA retirement funds can invest in Bitcoin.

I needed to have a better understanding of this digital asset that I can now hold in my retirement accounts. There are plenty of financial gurus that argue why you shouldn't purchase Bitcoin. Ric Edelman is an accredited and highly rated financial guru that understands and argues that you should include some Bitcoin amongst your investments. It zigs when your other investments zags so it's a nice counter balance to stocks, bonds, real estate, precious metals.

This book offers an easy to read introduction into what Bitcoin is and it's a great overview to the Crypto universe. I've spent the last couple weeks trying to get up to speed on Bitcoin, mostly thru reading, but with a sprinkling of videos. This subject can be much more wide-ranging than I originally thought. It's very easy to go down many rabbit holes in your quest to understand the Bitcoin Universe. Thankfully, this is not the "Complete Book" on Bitcoin because I suspect that would have been overwhelming. However, this book provides the reader with a solid foundation with which to understand Bitcoin and suggests practical tools to help the reader buy, sell and store Bitcoin.

The edition I read was published in 2022, before the Bitcoin ETF's were approved. While this edition's information is still timely, I anticipate an updated edition very soon to add the profound impact the ETF's approval will have on advancing the Bitcoin thesis with people like me.

[Igor Pejic · Rating 5 out of 5]

In The Truth About Crypto Ric Edelman brings the grounded perspective of one of America’s most famous financial advisors to a field often dominated by technologists and speculators. Edelman’s primary goal is to strip away the jargon and the get-rich-quick noise to explain why blockchain is the most significant innovation for global commerce since the internet. He argues that we are moving from a trust-based economy, where we pay expensive intermediaries like banks and title companies to verify transactions, to an authentication economy, where the technology itself provides immutable proof of ownership. By framing crypto not just as a “currency” but as a fundamental shift in how we handle any asset with value, Edelman makes the case that ignoring this space is no longer a viable option for the serious investor.
The book excels as a practical on-ramp, especially addressing the anxieties of traditional investors and financial professionals. Edelman provides a clear taxonomy of the ecosystem, explaining the differences between Bitcoin, Ethereum, stablecoins, and DeFi platforms without getting bogged down in dense code. He is refreshingly conservative in his portfolio advice, famously suggesting a “1% to 5% rule”: an allocation small enough that you won’t be ruined if it goes to zero, but large enough to significantly boost your total returns if the technology achieves mass adoption. He also tackles the unforced errors of the crypto world such as poor security habits and falling for meme coins like Dogecoin.
Edelman’s book is an empowering guide that shifts the focus from “what is the price today?” to “how will this change the world tomorrow?” Edelman’s tone is optimistic yet disciplined, providing the tools for due diligence while emphasizing that the biggest risk is not the volatility of the assets, but a lack of education about the underlying shift. It is a vital resource for anyone who wants to participate in the “Internet of Value” without losing their head - or their shirt -in the process. It proves that while the technology is complex, the truth of its potential is something every investor can, and should, understand.

This review is originally published within the Money Book Circle in my newsletter. Sign up here for regular reviews of the hottest books on money and technology: https://igorpejic.substack.com/

[Hollywood · Rating 4 out of 5]

Very good beginner book to get you into Crypto. Written in 2021 and surprising to see how much has changed since then.

“But 2 billion people (including 6% of US households) are not so fortunate. They are the unbanked, meaning they lack sufficient funds to open a bank account. As a result, they enjoy none of the benefits that you and I take for granted.”

“Likewise a 2021 report by Chainalysis found that criminal activity represented only 0.15% of all cryptocurrency transaction volume.”

“Your TV, coffee pot, Alexa, and that’s typos alarm clock on your oven. Those devices consume 344 million kilowatt-hours of electricity in the United States annually and spew 250 million tons of carbon dioxide in the the air - 4% of all US greenhouse gas emissions, according to the natural resource defence council. In the untied states along those devices consume as much energy as all Bitcoin miners in the entire world. Tell everything to stop playing video games. A 2020 study found that video gamers consume 46% more energy than the worlds Bitcoin miners.”

“Currency has six characteristics: Durability, Portability, Divisibility, Uniformity, Limited Supply, Acceptability.”

“If hackers could use quantum computers to crack private keys (and our nukes), don’t you think that Bitcoin developers (and the Defence Department) will use quantum computers to create new cyber security systems to protect against these hacks?”

“Sharpe Ratio - This measures the return earned per unit of volatility. This toll can help reveal whether your returns are due to smart decisions - or because you took excessive risk. You want a high Sharpe Ratio because the higher the number the better the risk-adjusted performance of your portfolio.”

[Jim Southard · Rating 2 out of 5]

I was really disappointed in this book. I'm already convinced that I need a portion of my portfolio in digital assets, and I wanted this book to help me understand how to do that. It didn't. Half of the book is nothing but totally worthless lists of various organizations and companies associated with digital assets, with zero information as to which I should use, or why. The rest of the book convinced me that the regulatory picture and investment vehicles for digital assets are no where close to being ready for a routine investor with a managed portfolio in an established financial planning firm. I was left more confused and more frustrated than I was when I started the book, and more convinced than ever that digital assets are not ready for prime time investing. Give me a digital assets index ETF available in mainstream brokerage accounts like Schwab, and then maybe I'll be ready to commit a portion of my portfolio to digital assets. But if I have to set up a separate account, maintain a digital wallet and personally safeguard a key that if lost wipes out the entire investment, track and manage all of my records manually for tax reporting, and negotiate a regulatory minefield of unclear tax and reporting implications, no thanks. I have relied on Ric Edelman for years for the most clear and objective investment advice available, but his big push to get people to invest now in crypto seems inconsistent with his past advice.

[Rowan · Rating 4 out of 5]

It's a little hard to rate this book, but overall my feelings are generally positive. My main conflict comes from the fact that Edelman writes with quite a bit of bias. I don't know if I'd necessarily say he strawman's opposing opinions on crypto, but I feel like his response to criticisms on it are mostly just dismissive. He doesn't really give good reasons against why people like Warren Buffett, for example, hold no cryptocurrencies. Edelman paints himself as some guy who basically had his eyes opened after himself being a skeptic, but in spite of his experience it's hard to say at times that one is completely assured by what he has to say.

Another predicament I find in reading this book is that it's complicated in some aspects, and too simplistic in others. He says himself that he's teaching us to drive a car when it comes to crypto, meaning he really just wants to teach us the stop and go pedals, indicators, etc. rather than explaining the mechanism of an internal combustion engine. Fair enough, however at times it really reinforces the whole "smoke and mirrors" feel behind cryptocurrency, because I still feel like I can't actively explain it. Blockchain, in particular, is something I still have trouble understanding. How does one get on a blockchain? How does it physically operate? I have never been one for technology, so many of these questions feel beyond me.

[Will Review Later; B- Tier]

[Nicholas · Rating 4 out of 5]

Nice little book that provides a good introduction to incorporating cryptocurrencies into your portfolio. Of particular interest in this book, it introduced me personally to the idea of allocating 1% of my portfolio to cryptocurrency on the basis that this generates greater returns a portfolio that consists strictly of stocks and bonds. Likewise, it goes against the sentiment in the community regarding trading cryptos and instead offers a far more friendly investment strategy for non-active traders in the crypto space: dollar cost averaging.

[Sam · Rating 3 out of 5]

Do I feel confident enough to invest? No. Do I understand the basics of what crypto is and how it works? Yes.

I have a background in economics and work in banking, and crypto is a mystery even to me. So, the “what” and “how” questions were easy to understand in Parts 1 and 2. But any further than that you would need an investment brain and I am not interested in investing at this time. This author is also obviously biased in favor of purchasing crypto so take that as you will.

[David Celley]

The book is a good way to learn about a subject that seems to be complicated and nebulous. The author allays almost all of the fears I had about ever investing in crypto assets. His discussion covers most all of the many varieties and derivatives there are in the industry, including tax management. I don't know if I will ever invest in crypto assets, but I feel much better about it now than I did before.

[Eric · Rating 3 out of 5]

A likely "must read" for anyone contemplating involvement in investing in digital assets; from buying your morning coffee with bitcoin to investing a portion of your retirement nest egg in a blockchain instrument of any kind. I cannot help but think that there exists a tenuous relationship between the author's story and the recent $89B for IRS investment in new agents.

[Divyesh Sheth · Rating 4 out of 5]

This is a good introduction to crypto. However, the book is from an unabashed crypto enthusiast, so it glosses over the downside of crypto. Author does explain the blockchain tech. at basic level and has good overview of how to buy, mine, trade and store crypto assets. Author also covers taxes and few other things which are not covered by other books. Overall a very good intro to crypto.

[Kyle · Rating 4 out of 5]

If you are crypto curious, this a solid book to act as a starting point. While I would liked to have learned more about the different kinds of digital currency (bitcoin vs. Litecoin, etc.) the book is definitely pro owning digital currency in a well diversified portfolio. Some of the content was over my head, but the book was very readable. As always Ric Edelman does a nice job.

[Clare · Rating 3 out of 5]

I completed my Advanced Certificate in Blockchain & Digital Assets - Financial Advisor Track. This was the textbook I read and it accompanied the lectures.

For the ATY 2023 Challenge, this fits the prompt for a book about a Spice Girl personality. The book is about building wealth and so it fits with the Spice Girl called Posh.

[Joc · Rating 4 out of 5]

Very comprehensive and well written to teach and communicate the risks, the value and the regulations around cryptocurrencies and their underlying blockchains. A lot of esoteric information thats not usually all in one place, properly and delicately pieced together for a logical whole and digestible meal.

[Susan Floerchinger · Rating 3 out of 5]

I found this book to be very easy to follow when beginning to understand cryptocurrency. Though much of the information has changed it is one that I keep on my bookshelf so I can easily refer back to it and make connections to this fast-moving industry easier.

I highly recommend it to anyone just starting the crypto journey.

[Bryce Zelig · Rating 3 out of 5]

This book is fun and easy to read. The first couple of chapters really help with understanding how blockchain really works which I’m sure is a complicated idea to process for most. I do think it’s too long and there’s two chapters in it that in think are over most people’s heads that read this. Taxes and the advisors ones. Besides that fun and easy read.

[Ilan Tsekhman · Rating 4 out of 5]

This was the best and most accessible intro to blockchain and cryptocurrency that I've read thus far. A very easy read that gets to the heart of the subject matter without spending page after page prognosticating about the impact this technology will have on the future.

[Kimberly Wong · Rating 5 out of 5]

I've learnt so much from this book. It's a really good 101 on crypto though fair warning, it does lean on the "it will change the world/better invest it now!" side of the coin. That said, I did thoroughly enjoy being educated by Ric on this new asset class.

[Alex Holloman · Rating 4 out of 5]

Ric did a great job explaining all aspects of cryptocurrency in a way that is easy to understand. He even expanded on the outlying associated facets of this decentralized digital money and marketplace.