The Bitcoin Standard Book Summary

In 'The Bitcoin Standard', Saifedean Ammous explores the revolutionary concept of Bitcoin and how it serves as a new form of sound money. He delves into the historical context of money, tracing its evolution through various forms, from barter to fiat currencies. The book challenges conventional financial wisdom and posits that Bitcoin could reshape the global economy. Ammous argues that the adoption of Bitcoin represents not just a technological shift but a cultural one, emphasizing individual sovereignty and freedom. This thought-provoking read leaves readers questioning the future of money and the implications of a decentralized financial system.

By Saifedean Ammous

Published: 2018

""Bitcoin is a form of decentralized money that challenges the traditional financial system, offering individuals empowerment and the ability to take control of their own wealth.""

The Bitcoin StandardBook binding

Start Listening to Book Summary

0:000:00

Book Review of The Bitcoin Standard

A comprehensive and authoritative exploration of Bitcoin and its place in monetary history When a pseudonymous programmer introduced "a new electronic cash system that’s fully peer-to-peer, with no trusted third party" to a small online mailing list in 2008, very few people paid attention. Ten years later, and against all odds, this upstart autonomous decentralized software offers an unstoppable and globally accessible hard money alternative to modern central banks. The Bitcoin Standard analyzes the historical context to the rise of Bitcoin, the economic properties that have allowed it to grow quickly, and its likely economic, political, and social implications. While Bitcoin is an invention of the digital age, the problem it purports to solve is as old as human society itself: transferring value across time and space. Author Saifedean Ammous takes the reader on an engaging journey through the history of technologies performing the functions of money, from primitive systems of trading limestones and seashells, to metals, coins, the gold standard, and modern government debt. Exploring what gave these technologies their monetary role, and how most lost it, provides the reader with a good idea of what makes for sound money, and sets the stage for an economic discussion of its consequences for individual and societal future-orientation, capital accumulation, trade, peace, culture, and art. Compellingly, Ammous shows that it is no coincidence that the loftiest achievements of humanity have come in societies enjoying the benefits of sound monetary regimes, nor is it coincidental that monetary collapse has usually accompanied civilizational collapse. With this background in place, the book moves on to explain the operation of Bitcoin in a functional and intuitive way. Bitcoin is a decentralized, distributed piece of software that converts electricity and processing power into indisputably accurate records, thus allowing its users to utilize the Internet to perform the traditional functions of money without having to rely on, or trust, any authorities or infrastructure in the physical world. Bitcoin is thus best understood as the first successfully implemented form of digital cash and digital hard money. With an automated and perfectly predictable monetary policy, and the ability to perform final settlement of large sums across the world in a matter of minutes, Bitcoin’s real competitive edge might just be as a store of value and network for the final settlement of large payments a digital form of gold with a built-in settlement infrastructure. Ammous’ firm grasp of the technological possibilities as well as the historical realities of monetary evolution provides for a fascinating exploration of the ramifications of voluntary free market money. As it challenges the most sacred of government monopolies, Bitcoin shifts the pendulum of sovereignty away from governments in favor of individuals, offering us the tantalizing possibility of a world where money is fully extricated from politics and unrestrained by borders. The final chapter of the book explores some of the most common questions surrounding Bitcoin: Is Bitcoin mining a waste of energy? Is Bitcoin for criminals? Who controls Bitcoin, and can they change it if they please? How can Bitcoin be killed? And what to make of all the thousands of Bitcoin knockoffs, and the many supposed applications of Bitcoin's 'block chain technology'? The Bitcoin Standard is the essential resource for a clear understanding of the rise of the Internet’s decentralized, apolitical, free-market alternative to national central banks.

Book Overview of The Bitcoin Standard

About the Book Author

S

Saifedean Ammous

Saifedean Ammous is an economist and author renowned for his contributions to the discourse on Bitcoin and its implications for economic theory. His most notable work, 'The Bitcoin Standard: The Decentralized Alternative to Central Banking,' explores the role of Bitcoin in the modern financial landscape and advocates for sound money principles. Ammous's writing blends rigorous economic analysis with a clear, engaging style, making complex subjects accessible to a broad audience. Through his work, he challenges conventional economic paradigms and argues for the transformative potential of cryptocurrency.

Book Details

Key information about the book.

Authors
Saifedean Ammous
Published
April 2018
Publisher
John Wiley & Sons
ISBN
1119473861
Language
English
Pages
311
Genres
Cryptocurrency InvestingFinanceBlockchain and CryptocurrenciesTechnology

Purchase Options

Amazon logoBuy on Amazon
BookShop logoBuy via BookShop

Support local bookstores: BookShop gives a portion of each sale to independent bookshops!

Similar books you might like →

Digital MinimalismBook binding

Digital Minimalism Book Summary

In 'Digital Minimalism', Cal Newport challenges our relationship with technology, advocating for a mindful approach to digital consumption. He presents a philosophy that emphasizes focusing on what truly matters in our lives by decluttering our digital spaces. Through compelling anecdotes and research, Newport unveils the hidden costs of excessive screen time, encouraging readers to reclaim their attention and leisure. This transformative book offers practical strategies for prioritizing meaningful interactions and passions over distractions. Are you ready to disconnect to reconnect with what truly enriches your life?

Digital Minimalism
Cal Newport
To Rise Again at a Decent HourBook binding

To Rise Again at a Decent Hour Book Summary

In "To Rise Again at a Decent Hour," author Joshua Ferris delves into the life of Paul O'Rourke, a dentist grappling with existential questions and the sudden disappearance of his online identity. As he navigates a web of personal disconnection and digital chaos, Paul finds himself increasingly drawn to a mysterious religious community that challenges his understanding of purpose. With sharp wit and profound insights, Ferris explores themes of faith, loneliness, and the search for meaning in an increasingly impersonal world. This novel intricately weaves humor and melancholy, making readers question their own existence in the digital age. Will Paul uncover the truth about his own life before it’s too late?

To Rise Again at a Decent Hour
Joshua Ferris
The Brothers KaramazovBook binding

The Brothers Karamazov Book Summary

In "The Brothers Karamazov," Fyodor Dostoevsky weaves a profound tale of faith, morality, and the human soul through the lives of the tumultuous Karamazov siblings. Each brother embodies conflicting philosophical ideals—rationalism, doubt, and faith—culminating in a gripping exploration of existential angst. When their debauched father is murdered, a complex web of guilt, betrayal, and redemption ensnares them, forcing each to confront their own moral dilemmas. As the characters grapple with profound questions about God, freedom, and justice, readers are drawn into a suspenseful narrative that challenges the very essence of belief. Prepare to be captivated by a timeless literary masterpiece that delves deep into the heart of what it means to be human.

The Brothers Karamazov
Fyodor Dostoevsky
The Happiest Toddler on the BlockBook binding

The Happiest Toddler on the Block Book Summary

In "The Happiest Toddler on the Block," Dr. Harvey Karp introduces revolutionary techniques to transform your spirited toddler into a happier, more cooperative child. With a unique blend of insight and humor, Karp unveils the secret language of toddlers, empowering parents to connect with their little ones on a deeper level. He tackles common parenting challenges head-on, offering practical strategies that turn tantrums into triumphs and frustration into fun. Discover how to harness the power of empathy and emotion to foster joy and reduce conflict in your home. Get ready to unlock the secrets of joyful parenting and watch your toddler thrive like never before!

The Happiest Toddler on the Block
Harvey Karp, Paula Spencer
The Baby Owner's ManualBook binding

The Baby Owner's Manual Book Summary

Unlock the secrets of parenthood with "The Baby Owner’s Manual," an essential guide cleverly disguised as a user manual for your new bundle of joy. Written with humor and practicality, this book covers everything from feeding and diapering to decoding your baby’s mysterious cries. Packed with troubleshooting tips and “maintenance” plans for your little one, it transforms daunting parenting tasks into manageable steps. Delve into the quirky, yet insightful world of baby care that makes you feel like a pro from day one. Are you ready to master the art of baby ownership?

The Baby Owner's Manual
Louis Borgenicht M.D., Joe Borgenicht
A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing (Ninth Edition)Book binding

A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing (Ninth Edition) Book Summary

In "A Random Walk Down Wall Street," Burton Malkiel challenges the myth of market predictability and unveils the chaos underlying financial markets. Through engaging anecdotes and sharp insights, he demystifies complex investment strategies while advocating for the simplicity of index funds. Readers are taken on a journey through the history of financial theory and practical investing advice, revealing how randomness shapes market movements. Malkiel's compelling arguments will make you question conventional wisdom and reconsider your approach to investing. Are you ready to explore the unpredictable world of finance and learn how to navigate it wisely?

A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing (Ninth Edition)
Burton G. Malkiel
FiascoBook binding

Fiasco Book Summary

In 'Fiasco,' Frank Partnoy unveils the chaotic world of financial markets, where seemingly sound decisions can lead to catastrophic failures. He provides a gripping narrative of the 2008 financial crisis, dissecting the miscalculations and greed that fueled it. Through engaging anecdotes and sharp insights, Partnoy challenges readers to rethink risk and the nature of financial systems. This exploration serves as both a cautionary tale and a deep dive into the mechanisms that govern our economy. Prepare to question everything you thought you knew about finance and the true cost of ambition.

Fiasco
Frank Partnoy
The Rational OptimistBook binding

The Rational Optimist Book Summary

In 'The Rational Optimist', Matt Ridley challenges the pervasive pessimism of modern society by illustrating how human innovation and collaboration have historically led to progress and prosperity. He argues that through trade, science, and technology, humanity has an incredible ability to solve problems and improve quality of life. Ridley takes readers on a journey through history, revealing how obstacles have often fueled creativity and driven advancement. This thought-provoking book invites you to rethink the future and embrace the power of optimism in a world filled with challenges. Discover why Ridley believes our best days are still ahead!

The Rational Optimist
Matt Ridley

Showing 8 of 30 similar books

Take your reading experience to the next level

Download our mobile app to enjoy your favorite books on the go. Get access to exclusive features, offline listening, and personalized recommendations.

Download on the App Store

Similar Book Recommendations →

Naval Ravikant's Book Recommendations

Naval Ravikant's Book Recommendations

Naval Ravikant is an entrepreneur, angel investor, and philosopher, best known as the co-founder of AngelList, a platform that connects startups with investors. Ravikant is a prolific thinker and writer on topics such as startups, investing, and personal well-being, sharing his wisdom through essays, podcasts, and social media. He has invested in over 100 companies, including Uber, Twitter, and Yammer, making him one of Silicon Valley’s most successful angel investors. Ravikant is also known for his philosophical musings on wealth, happiness, and the meaning of life, which have garnered him a large and dedicated following.

Business and LeadershipInspiring ReadsLife AdviceMindfulnessSuccess Stories and Life Lessons
Anthony Pompliano's Book Recommendations

Anthony Pompliano's Book Recommendations

Anthony Pompliano, also known as "Pomp," is a prominent entrepreneur and investor focused on the cryptocurrency and blockchain sectors. He co-founded Morgan Creek Digital, an investment firm dedicated to blockchain technology and digital assets. Pomp is also well-known for his popular newsletter, "The Pomp Letter," where he shares insights on finance, technology, and the future of money. As a prolific voice in the crypto community, he has appeared on multiple media platforms, including his own podcast, "The Pomp Podcast," where he interviews industry leaders and innovators. Through his writings and public engagements, Pompliano has significantly contributed to the broader understanding and adoption of digital currencies.

Business and LeadershipTechnology and FutureMoney Matters
Raoul Pal's Book Recommendations

Raoul Pal's Book Recommendations

Raoul Pal is a British economist, investment strategist, and co-founder of Real Vision, a financial media company that provides in-depth analysis of global markets and economies. Pal is known for his insights on macroeconomics, cryptocurrency, and investment trends, often sharing his expertise through interviews, reports, and documentaries. Before founding Real Vision, Pal worked at Goldman Sachs and managed a global macro hedge fund. He is a strong advocate for decentralized finance (DeFi) and frequently discusses the future of digital currencies and blockchain technology. His forward-thinking perspectives on finance have earned him a large following among investors and financial professionals.

Money MattersTechnology and Future

"Bitcoin is a form of decentralized money that challenges the traditional financial system, offering individuals empowerment and the ability to take control of their own wealth."

The Bitcoin Standard

By Saifedean Ammous

Frequently Asked Questions