- File Size: 1859 KB
- Print Length: 305 pages
- Publisher: Wiley; 1 edition (March 23, 2018)
- Publication Date: March 23, 2018
- Sold by: Amazon.com Services LLC
- Language: English
- ASIN: B07BPM3GZQ
- Text-to-Speech: Enabled
- Word Wise: Enabled
- Lending: Enabled
- Amazon Best Sellers Rank: #28,017 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
|Digital List Price:||$29.95|
|Print List Price:||$29.95|
Save $13.96 (47%)
The Bitcoin Standard: The Decentralized Alternative to Central Banking Kindle Edition
|New from||Used from|
Explore your book, then jump right back to where you left off with Page Flip.
View high quality images that let you zoom in to take a closer look.
Enjoy features only possible in digital – start reading right away, carry your library with you, adjust the font, create shareable notes and highlights, and more.
Discover additional details about the events, people, and places in your book, with Wikipedia integration.
Ask Alexa to read your book with Audible integration or text-to-speech.
Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your mobile phone number.
More items to explore
“Bitcoin has no owner, no authority that can decide on its fate. It is owned by the crowd, its users. And it now has a track record of several years, enough for it to be an animal in its own right. Its mere existence is an insurance policy that will remind governments that the last object the establishment could control, namely, the currency, is no longer their monopoly. This gives us, the crowd, an insurance policy against an Orwellian future.”–From the foreword by Nassim Nicholas Taleb --This text refers to an alternate kindle_edition edition.
From the Back Cover
THE ESSENTIAL GUIDE TO BITCOIN'S HISTORY, PROPERTIES, USES, AND FUTURE
"Bitcoin has no owner, no authority that can decide on its fate. It is owned by the crowd, its users. And it now has a track record of several years, enough for it to be an animal in its own right. Its mere existence is an insurance policy that will remind governments that the last object the establishment could control, namely, the currency, is no longer their monopoly. This gives us, the crowd, an insurance policy against an Orwellian future." From the Foreword by Nassim Nicholas Taleb
In The Bitcoin Standard, economist Saifedean Ammous walks readers through the fascinating history of the technologies of money and explores what gave these technologies their monetary role, how they lost it, what that teaches us about the desirable features of money, and how Bitcoin is designed to improve on these technologies. Ammous elucidates the economic, social, cultural, and political benefits of sound money over unsound money to allow for an informed discussion of the potential role Bitcoin could play in the digital economy of the future. Rather than as a currency for criminals or a cheap mass consumer payment network, this book argues Bitcoin is emerging as a decentralized, politically neutral, free-market alternative to national central banks, with potentially enormous implications for individual freedom and prosperity. For anyone looking for a clear understanding of this new digital money, The Bitcoin Standard is the essential resource. --This text refers to an alternate kindle_edition edition.
Would you like to tell us about a lower price?
There was a problem filtering reviews right now. Please try again later.
Who should read the book:
People that are interested in the history of money.
People that are wondering what makes Bitcoin different.
People that are curious about what makes money work.
This is a wonderful book written by a world-class economist. Saifedean Ammous really knows his monetary history and has clear and logical explanations of not only how money works, but why some money works better than others. He makes a compelling argument for why Bitcoin is superior to other forms of money tried in the past. As a bonus, he goes into why so much of "blockchain technology" is mostly hype.
I've bought 20 copies already to hand out to friends.
That’s right. This book is the missing treatise on “Why Bitcoin?”. It is not technical from a coder’s point of view; however, it is technical on its treatment of economics. Don’t let that scare you away. If you ever considered “getting into Bitcoin”. If you never heard of Bitcoin. If you are a long-time holder of Bitcoin. This book is for you.
The book fills a gap on three fronts. First it helps those of us who became enamored with Bitcoin through individual and economic freedom explain our viewpoint in a succinct manner. Second, it serves as a philosophical on-ramp to the multitudes of speculators who flooded into Bitcoin in the past 6 months or so. It provides them a concrete reason to transform their time-preference (a key economic theme in the book) from trader to HODLer. Lastly, it is for people who have never heard of Bitcoin or have heard of it but don’t know or understand much about it. It provides these folks with the very best reason for converting at least some of their government-backed fiat money into the sound/hard money of Bitcoin.
Another overriding theme in the book is security. Without it there is no such thing as financial freedom. Near the beginning of the book Ammous explains:
“Should you come out of reading this book thinking that the bitcoin currency is something worth owning, your first investment should not be in buying bitcoins, but in time spent understanding how to buy, store, and own bitcoins securely.”
This is without a doubt the best advice one could possibly give regarding Bitcoin.
In reading the book you may find yourself wondering when he’s going to start getting to the Bitcoin part. The first seven chapters barely mention Bitcoin. Instead there is a gradual discussion of money and economics, including the various popular schools of economics. Ultimately, the conclusion is that Austrian Economics provides the fundamental basis of “Why Bitcoin?” In fact, those of us already schooled in Austrian Economics should celebrate the existence of this book. It can potentially spread the common-sense Austrian view to multitudes of people who otherwise would never learn of it.
If you know someone who bought bitcoins for speculation or to make some quick money buy this book for them and force them to read it. You may even have to go all “Clockwork Orange” on them, strapping them to a chair and pinning their eyes open. They may scoff at first, but they’ll thank you later (yet another benefit of having a low time-preference).
“The Bitcoin Bible”… er.. I mean “The Bitcoin Standard” is essential to read and understand for anyone even remotely interested in Bitcoin. Read it. Then read it again. Then pass it around to everyone you know and if they are reluctant, figure out non-violent ways to get them to read it. So, you probably shouldn’t resort to the “Clockwork Orange” method mentioned above. Just find a way.
If Roger Ver can be “Bitcoin Jesus” (or more accurately “Bitcoin Judas” at this point) then Saifedean Ammous is a “Bitcoin God”. Read his bible with the highest time preference so you can learn to have a low time preference when it comes to Bitcoin itself. BTFD and HODL!
Top international reviews
It reminds me of the way we were told that fat makes you fat and now we know it was actually sugar all along. The same is true of our economic theories. We’ve been sold a lie and our currencies are heading to zero.
Our modern levels of debt and quantitative easing are now unsustainable so either we return to the gold standard or we move on.
Enter Bitcoin. The hardest money ever.
Truly an eye opening book, especially the first half of it. If you can even borrow it from a friend, I recommend you do.
I got the audible version as well as paperback. Will sit nicely next to Mises in my library.
The book was first ordered by my friend to my address as he lives abroad and was planning to pick it up in a couple of weeks. I expected a slightly boring book with some propoganda, like Dr Julian Hosp's one, but I was pleasantly surprised to be very wrong. I ordered my own copy immediately.
Ammous argues that the gold standard was a far superior system to the fiat currency system we have today, and that the 'Bitcoin standard' will be its digital reincarnation. While this veneration of the gold standard may seem surprising or implausible to modern readers, Ammous argues his case well, citing the remarkable, indeed almost uninterrupted, economic boom that much of the West enjoyed during the years of the gold standard. This long period of prosperity under the gold standard is contrasted with the depressingly familiar 'boom and bust' cycle that has characterised the global economy since the abandonment of the gold standard in favour of the present system of 'fiat' currencies.
Having established his theoretical and historical case for why we need 'sound money', such as gold, Ammous spends the remainder of the book arguing why Bitcoin, and Bitcoin alone, is suited to perform the function of digital sound money. He argues that none of the alternative cryptocurrencies (altcoins) can fulfil this function, and that therefore Bitcoin itself should be the focus of any efforts to create a superior alternative to the current currency system. Finally he presents an idea for how Bitcoin could scale to the point of true worldwide use for the whole human population, namely a network of banks issuing currency backed by Bitcoin, thus the 'Bitcoin Standard' that gives the book its name.
My main quibble with the book is that Ammous only gives us a cursory explanation of how his long-term vision for Bitcoin as an international settlement currency would work. He states that Bitcoin's current transaction capacity of approximately 350,000 transactions per day would allow each bank in a network of 850 central banks to perform one final settlement transaction with every other bank in the network per day, and that if each of these banks served 10 million customers this would allow Bitcoin (or at least a central bank derived version of it) to be used by the world's entire population. Even putting aside the many significant problems that this approach would introduce, such as a return to (semi) trusted third parties and the possibility of these central banks running fractional reserve systems, Ammous never gives us any explanation of how this system would actually work, even in broad terms. For that reason I would rate this book 4.5 out of 5 stars if Amazon allowed such a rating.
With that aside, I would nonetheless very much recommend this book for anyone interested in the economic, monetary, and historical case for Bitcoin as 'digital gold'. If Ammous's predictions for the future of Bitcoin and the world monetary system come to pass then it will be not only a highly entertaining and interesting book but an important one too.
The solution is unbelievable , yet simple. A must read for anyone who is at all curious or suspicious of those in control of ‘OUR MONEY’. A detailed journey how money must hold an intrinsic value to hold any lasting worth.
A great introduction to how bitcoin addresses virtually all of our current world problems.
Anyone familiar with Austrian Economics will enjoy it and the author’s criticism to the infamous Keynes and monetarists.
Russians have a similar currency to trade between bloc members in the Stans .
Very worth it, especially for the younger generation for whom this will be their reality.
“There was never an example of hyperinflation with economies that operated a gold or silver standard"