Business & Economics Bitcoin & Cryptocurrencies
Once a Bitcoin Miner
Scandal and Turmoil in the Cryptocurrency Wild West
- Publisher
- ECW Press
- Initial publish date
- Oct 2021
- Category
- Bitcoin & Cryptocurrencies, Business, Editors, Journalists, Publishers
-
Paperback / softback
- ISBN
- 9781770415393
- Publish Date
- Oct 2021
- List Price
- $22.95
-
eBook
- ISBN
- 9781773055886
- Publish Date
- Oct 2021
- List Price
- $15.99
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Description
“Lou himself is a rare commodity in that he understands cryptocurrency and knows how to write about it … This book stands out as a rare example of a readable snapshot of a world we all need to get more informed about.” — The Times
Ethan Lou goes on an epic quest through the proverbial cryptocurrency Wild West, through riches, absurdity, wonder, and woe. From investing in Bitcoin in university to his time writing for Reuters, and then mining the digital asset ― Lou meets a co-founder of Ethereum and Gerald Cotten of QuadrigaCX (before he was reported dead), and hangs out in North Korea with Virgil Griffith, the man later arrested for allegedly teaching blockchain to the totalitarian state.
Coming of age in the 2008 financial crisis, Lou’s generation has a natural affinity with this rebel internet money, this so-called millennial gold, created in the wake of that economic storm. At once an immersive narrative of adventure and fortune, Once a Bitcoin Miner is also a work of journalistic rigor. Lou examines this domain through the lens of the human condition, delving deep into the lives of the fast-talkers, the exiles, the ambitious, and the daring, forging their paths in a new world harsh and unpredictable.
About the author
Contributor Notes
Ethan Lou’s Field Notes from a Pandemic was named among the CBC’s best nonfiction of 2020. Lou has written in publications such as the Guardian and the Washington Post. He is a former Reuters reporter and has served as a visiting journalist at the University of British Columbia. Lou first bought Bitcoin in 2013. He lives in Toronto.
Excerpt: Once a Bitcoin Miner: Scandal and Turmoil in the Cryptocurrency Wild West (by (author) Ethan Lou)
It’s not easy to go to North Korea, one of the most reclusive and restrictive places in the world, but it’s also not impossible. For the blockchain conference, there was an application process, and then the forking over of €3,300, the bulk in cash upon arrival and €800 of it prepaid. The methods for prepayment: no credit cards, no easy remittances to the great Bank of North Korea, only a wire to some obscure financial institution in Estonia or a transfer of Ethereum’s Ether. I chose the latter because it’s less painful, and luckily for North Korea, Ether rose by as much as 50 percent in the following two months, resulting in a 50 percent profit from simply doing nothing. All of that perfectly shows the curious link between North Korea and cryptocurrency, which critics say threatens global stability, a connection built entirely on what that dictatorship is and its place in the world.
After paying the €800, I picked up my visa from the North Korean embassy in Beijing and had a Peking duck dinner with fellow attendees, none of whom I had met before.
The first thing one said to me was, “What made you decide to risk your life to go to North Korea?”
“Well, what about you?”
We all laughed.
“We all share a certain sort of crazy,” I said.
Editorial Reviews
“Lou himself is a rare commodity in that he understands cryptocurrency and knows how to write about it … This book stands out as a rare example of a readable snapshot of a world we all need to get more informed about.” — The Times
“He delves into these questions using minimal technical jargon, grounding theory with anecdotes … Lou’s book will immediately capture readers' attention with its deep dive.” — Library Journal
“Roller-coaster ride … Readers interested in an in-the-trenches view of the Bitcoin world will appreciate Lou’s willingness to tell all.” — Publishers Weekly
“Once a Bitcoin Miner offers a first-person account on one of the most fascinating periods in tech and finance … It's a highly entertaining read.” — Camila Russo, author of The Infinite Machine
