Principles of Bitcoin

Technology, Economics, Politics, and Philosophy

Vijay Selvam

$49.95

Hardback

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English

Columbia University Press
03 June 2025

Finance; Distributed databases

Principles of Bitcoin presents a holistic, first-principles-based framework for understanding one of the most misunderstood inventions of our time. By stripping away the hype, jargon, and superficial analysis that often surrounds the crypto industry, this book uncovers the true ingenuity behind Satoshi Nakamoto's creation-and its profound implications for the future of money, governance, and individual freedom.

Vijay Selvam analyzes the technology, economics, politics, and philosophy of Bitcoin, making the case that only through this holistic understanding can we gain an appreciation of its true meaning and significance. Readers are invited to consider Bitcoin as a tool for individual empowerment, a catalyst for economic autonomy, and a challenge to traditional monetary systems. Selvam demonstrates why Bitcoin stands alone in the digital asset space as a path-dependent once-in-history invention that cannot be replicated.

Principles of Bitcoin is an invaluable resource for professionals in the financial world seeking a rigorous and accessible understanding of Bitcoin. Students, curious thinkers, and all who find the technology daunting will also benefit from its clear, foundational approach. Equipping readers with the tools to grasp the many facets of Bitcoin, this book is an ideal guide to exploring its role in shaping a more decentralized, transparent, and equitable future.

By: Vijay Selvam
Imprint: Columbia University Press
Country of Publication: United States
Dimensions: Height: 235mm, Width: 156mm,
ISBN: 9780231220125
ISBN 10: 023122012X
Pages: 320
Publication Date: 03 June 2025
Audience: General/trade , ELT Advanced
Format: Hardback
Publisher's Status: Active

Foreword Preface Acknowledgments Part I. The Framework 1. Why Are We Talking About This? 2. Bitcoin and Money Part II. The Technology 3. Bitcoin’s Architecture 4. Proof of Work Versus Proof of Stake 5. Long-Term Security Budget 6. How Do You Kill Bitcoin? 7. Once-in-History Invention Part III. The Economics 8. Money and the State 9. Inflation: The Hidden Tax 10. A Store of Value 11. Global Adoption Part IV. The Politics 12. The Surveillance State 13. “Governments Will Ban Bitcoin” 14. Law and Regulation 15. Bitcoin and Geopolitics 16. Bitcoin and the Environment Part V. The Philosophy 17. Sovereign Prerogative 18. The Cypherpunks 19. Time Preference 20. Narratives and Memes 21. Bitcoin Is a Mirror Notes Index

Vijay Selvam is a corporate lawyer and financial services expert with nearly twenty years of experience across the United States, United Kingdom, and Asia. He spent more than a decade at Goldman Sachs and has also held leadership roles in the digital assets industry, advising on the evolving regulatory landscape. Selvam is a graduate of Harvard Law School, Oxford University, and Cardiff University. Alex Gladstein is the chief strategy officer of the Human Rights Foundation.

Reviews for Principles of Bitcoin: Technology, Economics, Politics, and Philosophy

Principles of Bitcoin provides one of the most logical frameworks for analyzing Bitcoin that I've ever seen, and with a high degree of professionalism and extensive references. This is absolutely a standout among books on the subject. -- Lyn Alden, author of <i>Broken Money: Why Our Financial System Is Failing Us and How We Can Make It Better</i> This book is the most thorough and complete analysis of Bitcoin in existence. It takes the reader through subject matter that is normally covered in thousands of hours of research in just 300 pages, referencing philosophers, economists, cryptographers, and technologists. The encyclopedic coverage of each aspect of Bitcoin is blended effortlessly with storytelling, analogies, and examples to ensure reader engagement even through some of the more complex areas. -- Richard Byworth, managing partner, Syz Capital Bitcoin is an incredibly difficult system to grasp fully. It acts like a mirror insofar as it tends to reflect your own education, skill set, and worldview when you gaze upon it. Principles of Bitcoin is a masterful work in which Selvam has collected the perspectives of hundreds of cypherpunks, philosophers, historians, economists, legal scholars, and more to lay out a comprehensive explanation of Bitcoin’s fundamental properties. -- Jameson Lopp, cofounder & CTO, Casa Clear, concise, and comprehensive. Vijay Selvam's book is the perfect guide for anyone looking to understand the importance of Bitcoin from the ground up. -- Jeff Booth, author of <i>The Price of Tomorrow: Why Deflation Is the Key to an Abundant Future</i> Vijay Selvam has written a brilliant and beautiful book that very simply, but very thoroughly, covers all aspects of Bitcoin. In these pages, Selvam takes you from someone with zero knowledge about the subject to a budding expert. -- From the foreword by Alex Gladstein