Review of “Internet of Money” by Andreas Antonopoulos

Andreas Antonopoulos is considered one of the foremost authorities on Bitcoin. In fact his Senate hearing in Canada in 2014 (Click here for speech) is considered one of the key turning points in Bitcoin’s journey in educating the governments on one of the most pathbreaking phenomena since the internet. This “book” is essentially a transcription of his key speeches.

If you are embarking on your bitcoin learning journey, this book and the associated videos must be your first readings and viewings. Antonopoulos keeps his speeches accessible to everyone and that is the key in this book. There are some fundamental concepts that are explained in these speeches, such as simple networks and innovation at the edge, infrastructure inversion, and key design principles for the bitcoin.

Discussions about networks was an illuminating aspect and it gives a clear insight into the mind of Antonopoulos. He is one of the fiercest advocates for decentralization. He draws interesting parallels to the original pulse dialing phone network, which is a smart network with “dumb old dialing phones” at the edges. In the bitcoin age this is flipped on its head. The network is “dumb” but the innovation is pushed to the edge. As Antonopoulos puts it, the network is dumb as rocks and it simply processes scripts. Nothing else. Doing this affords the advantage that central permissions are not needed to innovate. Innovation can happen independently, and the network can stay as is.

Infrastructure inversion is the principle where initially the new technology runs on the old creaky infrastructure, then it upends the old infrastructure and the old technology also begins to run on the new innovations. Classic example is that of automobiles running on cobblestone and unpaved roads. They faced a lot of challenges initially, and then once roads were paved it benefited both cars and horse-drawn carts. These and several other fundamental bitcoin principles and disruptions are eloquently explained, with easy to grasp examples that makes the Bitcoin very real and appealing to all.

For anyone interested in bitcoin, this collection of essays / speeches is a must read.

My rating 5/5

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