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The Bitcoin Standard
304 pages, 2018
The Bitcoin Standard examines the historical context to the rise of Bitcoin, the economic properties that have allowed it to grow quickly, and its likely political, economic, and social implications. While Bitcoin is a new invention of the digital age, the problem it purports to solve is as old as human society itself: transferring value across time and space. Ammous takes the reader on an engaging journey through the history of technologies performing these functions from primitive systems of trading limestones and seashells, to metals, coins, gold standards and modern government debt.
The Bitcoin Standard explores the concept of Bitcoin as a decentralized digital currency. Saifedean Ammous explains that Bitcoin's value comes from its limited supply, which is capped at 21 million coins. This scarcity is what makes it a reliable store of value, similar to gold.
The book takes you on a journey through the history of money, from primitive barter systems to modern digital currencies. It helps you understand how Bitcoin fits into this history and why it represents a significant advancement.
Ammous digs into the role of central banks in controlling the supply of money. He argues that this control often leads to economic instability. Bitcoin, on the other hand, offers a solution as it operates independently of any central authority.
The Bitcoin Standard also explores how Bitcoin could impact society. It suggests that Bitcoin could lead to a more prosperous and fair society by eliminating the need for banks and reducing the power of governments to control money.
Finally, the book looks into the future of Bitcoin. It suggests that as more people start to understand and trust Bitcoin, it could become a global standard for value exchange. This could potentially disrupt traditional financial systems and lead to a new era of economic freedom.
Quotes 3
The Bitcoin Standard is a must-read for anyone interested in the history, economics, and future of money. It's a game-changer.
Nassim Nicholas Taleb - Risk analyst, authorThe Bitcoin Standard is a seminal work that everyone should read. It's a deep dive into the world of Bitcoin and its potential to reshape our financial systems.
Max Keiser - Broadcaster, filmmakerThe Bitcoin Standard is a fascinating exploration of the history and future of money. It's a must-read for anyone interested in Bitcoin and its potential to revolutionize our financial systems.
Peter McCormack - Podcast host
