The Bitcoin Standard

The Decentralized Alternative to Central Banking

De: Saifedean Ammous

Narrado por: James Fouhey

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 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 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 listener 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 listener 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 the collapse of a civilization.

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 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.

Download the accompanying reference guide.©2018 Saifedean Ammous (P)2018 Audible, Inc.

instant classic

The only book that I have purchased in both print and audible format. Of the books I listen to repeatedly, this book will stand alone for the foreseeable future. Years of common Bitcoin lore backed up by a history of economics and statistics reveal why and how it is unlikely that I will ever see Bitcoin dethroned.

The bitcoin bible. The best resource available.

this book will take you from zero understanding of money and monetary policy to a near full understanding of why we need bitcoin.

will read again

great in depth book on money the history of money and why btc is of value

A great book about money

This book is mostly about money and it’s different doctrines but the part about bitcoin is pretty straight forward or at least the most straight forward explanation I’ve heard to date. I liked it for whatever that’s worth ;)

Mandatory Reading

A must read for anybody interested in learning about bitcoin. You will think twice about any ‘altcoins’ after this read - this was the biggest eye opener of the book for me.

Best book for understanding Bitcoin, Cryptocurrencies and Blockchain

Saifedean Ammous describes all important properties, history and future of Bitcoin and lays out the numerous reasons that make it the most, if not the only, promising cryptocurrency and a use case for the blockchain technology to ever exist. He thoroughly examines the reasons why Bitcoin’s competitors and critics will be unable to affect its inevitable adoption as the only true uninflatable, immutable and censorship-resistant store of value. A must read for anyone who cares about the, possibly, most revolutionary innovation of their lifetime.

Excellent presentation and info

Loved this book. Great info on what makes money useful .
Well narrated as well. Can’t wait for Fiat Standard

Covers why Bitcoin was created

This book focuses on the downfalls of fiat money, why governments control of money is important and why governments separated from gold. Bitcoin (limited in quantity) is an answer to how to remove governments manipulation in the money supply similar to how gold used to be before separating it from fiat money.

It a good book for understanding why Bitcoin and how we got here (I.e. Central banks manipulation of money at will resulting in the devaluing personal savings and buying power of the people).

Financial Education

I learned as much about money as about bitcoin. Definitely worth the time and probably worth re-listening.

Gran forma de explicar el verdadero potencial de Bitcoin

Este libro explica de forma ordenada e intuitiva la manera en que Bitcoin puede ser potencialmente el nuevo estándar monetario mundial como lo fue El Oro en el siglo XIX y principios del XX. Empieza por explicar el concepto de “sound money” lo que podría traducirse en dinero sólido pasando por relatar brevemente la historia del dinero hasta llegar al momento en que los gobiernos toman el control absoluto de la política monetaria y como Bitcoin, con su peculiar estructura descentralizada ya está siendo un referente fuera del control de terceros e instituciones pero con sistema hasta ahora a prueba de fraudes y lo más importante, con una escasez progresiva que la hacer ser el “sound money “ del siglo XIX. Además explica porque el resto de las Criptomonedas no tienen esta característica.