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 →

Black EdgeBook binding

Black Edge Book Summary

In "Black Edge," investigative journalist Sheelah Kolhatkar delves into the high-stakes world of hedge funds and the enigmatic figure of Steven A. Cohen. As she unravels the saga of insider trading, greed, and Wall Street's murky ethics, the book pulls readers into a gripping tale of ambition that spans decades. With intellectual prowess and audacious risk-taking, Cohen's rise to power raises questions about the moral compass of finance. Kolhatkar's penetrating analysis unveils the dark side of wealth and the relentless pursuit of success, leaving readers questioning the true cost of ambition. Will you dare to uncover the secrets of a financial titan and the shadowy underworld they inhabit?

Black Edge
Sheelah Kolhatkar
SuperforecastingBook binding

Superforecasting Book Summary

In "Superforecasting: The Art and Science of Prediction," Philip E. Tetlock unveils the secrets behind extraordinary predictors who consistently outsmart average forecasters. Delving into the cognitive techniques and mental habits that empower these super forecasters, he bridges the gap between intuition and data analysis. The book challenges conventional wisdom about forecasting, emphasizing that with the right mindset, anyone can enhance their predictive abilities. Through fascinating case studies and practical insights, Tetlock demonstrates how nuanced thinking and open-mindedness can transform our understanding of future events. Prepare to reshape your approach to uncertainty and discover the science behind becoming a master of predictions.

Superforecasting
Philip E. Tetlock, Dan Gardner
Positioning: The Battle for Your MindBook binding

Positioning: The Battle for Your Mind Book Summary

In "Positioning: The Battle for Your Mind," Al Ries and Jack Trout delve into the art of carving out a unique space in the crowded marketplace of ideas. They argue that the true battlefield is not in products, but in the perceptions of consumers' minds. Through gripping examples and strategic insights, the authors reveal how effective positioning can lead to lasting brand loyalty. Discover why it's not enough to simply stand out; you must also resonate with your audience in a memorable way. Are you ready to transform how you think about marketing and break through the noise?

Positioning: The Battle for Your Mind
Al Ries, Jack Trout
Bitcoin BillionairesBook binding

Bitcoin Billionaires Book Summary

In 'Bitcoin Billionaires,' Ben Mezrich chronicles the fascinating journey of the Winklevoss twins as they venture from the shadow of their legal battles with Mark Zuckerberg to become pioneering pioneers in the cryptocurrency revolution. This thrilling adventure explores their strategic investments and relentless pursuit of success in the burgeoning world of Bitcoin. With a blend of personal anecdotes and the rollercoaster of digital currency, the book reveals the challenges and triumphs faced by those at the forefront of financial innovation. As the stakes rise, readers are drawn into a narrative filled with ambition, technology, and the quest for fortune. Will the twins navigate the turbulent waters of this new economy, or will they lose it all in the unpredictable world of crypto?

Bitcoin Billionaires
Ben Mezrich
CodeBook binding

Code Book Summary

In 'Code', Charles Petzold takes readers on a captivating journey through the world of programming and computer science. He unravels the complex tapestry of how computers work, starting from simple concepts and building up to intricate systems. Through engaging anecdotes and metaphors, Petzold demystifies the inner workings of machines, making them accessible to everyone. This exploration not only reveals the beauty of code but also challenges us to think critically about the impact of technology in our lives. Prepare to see the digital world around you in a whole new light!

Code
Charles Petzold
The Splendid and the VileBook binding

The Splendid and the Vile Book Summary

In 'The Splendid and the Vile', Erik Larson unveils the harrowing yet inspiring story of Winston Churchill's leadership during World War II. Through a blend of gripping narrative and meticulous research, Larson paints a vivid picture of London under siege, revealing the resilience and courage of its people. As the Allies faced relentless bombings, Churchill's steadfast resolve galvanizes a nation teetering on the brink of despair. This tale not only chronicles the monumental events of 1940-1941 but also delves into the intimate, personal moments of Churchill's life amidst chaos. Discover how one man's tenacity can ignite hope in the darkest of times.

The Splendid and the Vile
Erik Larson
The Inner Game of MusicBook binding

The Inner Game of Music Book Summary

In 'The Inner Game of Music,' Barry Green and W. Timothy Gallwey explore the mental barriers that musicians face and how to overcome them. Through a blend of psychology and practical exercises, they reveal techniques to enhance concentration, reduce anxiety, and unlock creativity. The authors argue that the biggest obstacles to musical mastery lie within, rather than in external practice. By mastering the inner game, musicians can achieve a deeper connection with their art and express themselves more authentically. This transformative guide invites readers to discover the powerful interplay between mind and music, challenging them to reframe their approach to performance.

The Inner Game of Music
W. Timothy Gallwey, Barry Green
The Attention MerchantsBook binding

The Attention Merchants Book Summary

In 'The Attention Merchants,' Tim Wu unveils the captivating history of how our attention has become the most valuable commodity in the modern world. From the dawn of advertising to the rise of social media, Wu meticulously chronicles the evolution of industries that thrive on capturing and selling our focus. As he exposes the tactics employed by powerful corporations, readers are compelled to question the very nature of their relationship with technology and media. With sharp insights and engaging narratives, Wu challenges us to consider the cost of distraction and the importance of reclaiming our attention. This thought-provoking journey leaves readers pondering: can we resist the lure of the attention economy?

The Attention Merchants
Tim Wu

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 →

Alex Lieberman's Book Recommendations

Alex Lieberman's Book Recommendations

Alex Lieberman is the co-founder and executive chairman of Morning Brew, a media company that delivers engaging business news. Under his leadership, Morning Brew has grown to reach millions of subscribers, becoming a significant player in modern business journalism. Lieberman is also known for his insightful commentary on entrepreneurship and media trends. His work has significantly influenced the way business news is consumed by younger audiences. Beyond Morning Brew, Lieberman frequently writes and speaks about the intersection of media and technology, further cementing his role as a thought leader in the industry.

Business and LeadershipMedia and Pop CultureTechnology and Future
Ana Fabrega's Book Recommendations

Ana Fabrega's Book Recommendations

Ana Lorena Fabrega is an innovative educator and author passionate about reimagining education. Known as “Ms. Fab,” she is the Chief Evangelist at Synthesis, an education startup inspired by the problem-solving and collaboration model used at SpaceX. She advocates for alternative learning methods, encouraging curiosity and creativity in students. Ana's work emphasizes the importance of engaging young learners in real-world challenges and critical thinking. She also shares insights on education reform through her popular newsletter, Fab Fridays.

Media and Pop CultureInspiring ReadsCreativity and Innovation
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
Tim Ferriss's Book Recommendations

Tim Ferriss's Book Recommendations

Tim Ferriss is a bestselling author, entrepreneur, and podcast host, best known for his book The 4-Hour Workweek, which advocates for designing a lifestyle of financial and personal freedom through efficiency and outsourcing. He has written several other books, including Tools of Titans and Tribe of Mentors, compiling lessons from interviews with high achievers across industries. Ferriss’s podcast, The Tim Ferriss Show, is one of the most popular in the world, where he interviews leaders and influencers about their habits, strategies, and personal development. He is known for his emphasis on productivity, health, and optimizing performance.

Self-ImprovementBusiness and LeadershipProductivitySuccess Stories and Life Lessons
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