Decrypted , livre ebook

Marshall Cavendish International - Leng Hoe Lon

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85 pages

English

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In 2009, an anonymous programmer releases a new method of paying and being paid to the world. No one runs it; no one controls it; no authority verifies it. In this, its creator promises, is a way around banks and governments, around laws and regulations, and around failure itself. Less than a decade on, the technology known as Bitcoin is soaring in demand, and a single unit is valued in the thousands. It has spawned hundreds of clones, and its underlying blockchain technology has created a revolution in computing. It has legally made millionaires of thousands of ordinary people. Decrypted shows you, in plain, no-nonsense terms, exactly how that happened. Cryptocurrency and startup pioneer Leng Hoe Lon walks you through how cryptos like Bitcoin work and get their value, their strengths and weaknesses, their implications for the world... and how they fit in your investment plans. Will you join the cryptocurrency revolution, or ignore it as a passing fad? It's up to you to check out the facts, and decide for yourself. This book will show you what you need to know.

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Personal finance

Strategic management

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Publié par	Marshall Cavendish International
Date de parution	05 octobre 2018
Nombre de lectures	0
EAN13	9789814841122
Langue	English
Poids de l'ouvrage	7 Mo

Informations légales : prix de location à la page 0,0550€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

Extrait

Decrypted is an excellent work by Hoe Lon that explains cryptocurrency from a traditional trader s perspective. The book provides sufficient knowledge for even newcomers to catch up with this seemingly complicated blockchain world without much technical background. I believe the book will help introduce more people to blockchain and cryptocurrency, an exciting innovation of the century.
Loi Luu Co-founder, Kyber Network
I have always been a huge believer of inclusive finance, where the old and new economy find grounds to collaborate and embrace each others presence. The first step is to educate ourselves, no matter at what career juncture we are at, and the remaining excitement of cryptocurrency and the sheer potential of blockchain technology will lead the way. Decrypted , as narrated by Hoe Lon, is the epitome of life-long learning and embracing of what disruption in his field has to offer.
Professor David Lee, Singapore University of Social Sciences Co-founder, BlockAsset and Senior Advisor to Sentinel Chain
Decrypted is a trader s view of cryptocurrencies. A hard and uncompromising analysis of what it is, what it is not and most of all whether it will fulfill aspirations of what it can be. Hoe Lon has delved deep into the domain. Decrypted is certain to make an engaging read.
Wong Joo Seng Founder and CEO, Spark Systems
Decrypted took me from the path of least resistance, blissful ignorance, to the path of blissful intelligence. Finally I truly get it .
Jason Ambrose Founder and CEO Vanda Securities
Shouldn t one take heed that this book is written by a seasoned money manager working in high finance, who, apart from his day job, pays acute attention to cryptocurrencies? I have not read any other books out there that has distilled the essence of blockchain and its philosophy in such an easy, accessible manner. Anyone wanting to have a good introduction to this fascinating world without feeling as though they are reading a textbook should pick it up. Anyone who wants to be reminded and re-energised as to why they got into cryptocurrencies in the first place should also read it. I know I did.
Kai C Chng CEO, Digix Global
Decrypted shares an insightful narrative on the uprise of cryptocurrencies, providing a comprehensive view into the multifaceted interests of cryptoanarchists, bankers, and entrepreneurs. Hoe Lon outlines a thorough history of the blockchain ecosystem, and demonstrates the value of cryptocurrencies and blockchain technology for individuals and institutions. This book describes the potential impact of decentralised applications and provides a vision for how blockchain technology will come to be adopted.
Howard Wu Co-founder, Dekrypt Capital
Bitcoin, Ethereum, Blockchain, ICOs: the cryptic world of cryptocurrencies is not only tempestuous but polarised. Perspectives are deeply entrenched with both support and opposition driven by almost cultish zeal. Cutting through that sound and fury, Leng Hoe Lon gives the uninitiated amongst us, a dispassionate framework with which to join the debate. He presents the concepts, their recent evolution, their promise and pitfalls in an accessible and engaging way. Using colourful analogies (such as an overbooked restaurant with decentralised management), Hoe Lon explains the mechanics of the underlying technology. Drawing from our experience with more traditional asset classes, he tackles the questions of value , bubble and addresses overblown claims on both sides of the debate. Decrypted is not designed to be the last word for either enthusiasts or detractors. However, it is the first fair treatment of this field that I have encountered and should serve as a valuable point of reference for investors and regulators.
Lutfey Siddiqi CFA, Visiting Professor-in-Practice, LSE Adjunct Professor, NUS Risk Management Institute and former MD, UBS Investment bank
This book provides a great overview on cryptocurrencies and the blockchain industry. The mindset required to understand the fundamental change of the technology is well defined and expressed, which is the core component of conceptualising the benefits of blockchain in the future. A very good source to educate yourself on the subject.
Ronen Kirsh Co-founder, Dekrypt Capital and Blockchain at Berkeley

2018 Leng Hoe Lon Marshall Cavendish International (Asia) Private Limited
Published by Marshall Cavendish Business An imprint of Marshall Cavendish International

All rights reserved
No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the copyright owner. Requests for permission should be addressed to the Publisher, Marshall Cavendish International (Asia) Private Limited, 1 New Industrial Road, Singapore 536196. Tel: (65)6213 9300. Email: genref@sg.marshallcavendish.com Website: www.marshallcavendish.com/genref
The publisher makes no representation or warranties with respect to the contents of this book, and specifically disclaims any implied warranties or merchantability or fitness for any particular purpose, and shall in no event be liable for any loss of profit or any other commercial damage, including but not limited to special, incidental, consequential, or other damages.
Other Marshall Cavendish Offices: Marshall Cavendish Corporation. 99 White Plains Road, Tarrytown NY 10591-9001, USA Marshall Cavendish International (Thailand) Co Ltd. 253 Asoke, 12th Flr, Sukhumvit 21 Road, Klongtoey Nua, Wattana, Bangkok 10110, Thailand Marshall Cavendish (Malaysia) Sdn Bhd, Times Subang, Lot 46, Subang Hi-Tech Industrial Park, Batu Tiga, 40000 Shah Alam, Selangor Darul Ehsan, Malaysia.
Marshall Cavendish is a registered trademark of Times Publishing Limited
National Library Board, Singapore Cataloguing-in-Publication Data
Names: Leng, Hoe Lon. | Levinson, Adam, writer of foreword. Title: Decrypted : a financial trader s take on cryptocurrency / Leng Hoe Lon ; foreword by Adam Levinson. Description: Singapore : Marshall Cavendish Business, 2018 Identifiers: OCN 1048626096 | 978-981-4841-12-2 Subjects: LCSH: Electronic funds transfers. | Money. Classification: DDC 332.178--dc23
Printed in Singapore
Cover image by Aaron Gan (More on Aaron Gan on pg 165 )
To all the traders in the world. Yes, the machines are here to eat our lunch, but they will never learn our gut instincts. Don t stop believing.
This book is dedicated to you, the reader-for taking a leap of faith to accept the new world of cryptocurrencies.
CONTENTS
Foreword by Adam Levinson
Introduction: Crypto and You
Chapter 1
The New Gold Mining
Chapter 2
Crypto 101: How Crypto and Blockchains Work
Chapter 3
A Blockchained World
Chapter 4
L argent sans Frontieres
Chapter 5
Money Talks: Navigating the Crazy World of Altcoins
Chapter 6
The Other Half of the Truth
Chapter 7
Hold Your Horses
Conclusion
Is This a Hard Trade?
Appendix 1
Count Me In: Getting Started with Crypto
Appendix 2
Building the Crypto Mindset: An Interview with Melonport CEO Mona El Isa
Appendix 3
Where to Get Caught Up With Crypto News

Glossary
Acknowledgements
About the Author
About the Co-Author
About the Cover Artist
Fundraising for Seeing is Believing
FOREWORD
When Hoe Lon approached me to give a Foreword to his book, the first thing I said was, This is a fun project , and the courage to take a public stand on such a controversial topic is respectable. In the book, he applies his trading experience to demystify cryptocurrency trading.
Hoe Lon and I often discuss our global macro views, and cryptocurrency became a much greater part of the conversations over the last year. The traders in the financial world didn t care about Bitcoin until 2017. Mind you; the adoption is still pretty low. The parabolic price growth was a social phenomenon.
As a macro trader, I always evaluate various factors and put on a trade when a compelling opportunity arises. Several years back, when I was involved with Bitcoin at around 100, the bear thesis was around hacking of exchanges, links to nefarious activities and the 21st-century tulip mania . On the other hand, the bull thesis was on three distinct arguments. First, a libertarian view on currencies free from government influence. Secondly, the discovery of digital gold. Lastly, the likely demand from China as a channel of capital outflow. The miners in China converted electricity to crypto that could be turned into foreign currencies outside of China, and everyone wants that. The rapid technological advances in the blockchain world were only the kicker to the long crypto trade.
Is it over? Emphatically no! History repeated itself when a futures market launch ended a strong rally. Bitcoin experienced that in December 2017, when many of the positions front running the event were liquidated. While you never know precisely where you are in a cycle, it is not over until crypto is institutionalised in some shape or form. Very rarely have I seen a cycle end with a narrow slice of participation. The hyper-realists are probably right that this market makes no sense, but be careful not to get stuck in an anchoring bias. It is hard and unlikely to be rewarding to fight the growing population s collective imagination. Most great trades are going with a major trend and sociological force.
The research team in my office calls this a Polymorphic Financial Instrument. It seeks to alter 5,000 years of global financial evolution, which tended towards increased centralisation since Hammurabi, King Croesus and more lately Bretton Wood. We believe the millennials will drive investment philosophy for the next two decades. The silent generation bought gold, boomers bought equities, genX put most in hedge funds, and millennials have already shown a distinct preference for digital assets.
This book is a great way to start your