Best The Bitcoin Standard: The Decentralized Alternative to Central Banking By Saifedean Ammous
Best The Bitcoin Standard: The Decentralized Alternative to Central Banking By Saifedean Ammous
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Ebook About 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 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 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 knock-offs, and the many supposed applications of Bitcoin’s ‘blockchain 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 The Bitcoin Standard: The Decentralized Alternative to Central Banking Review :
I say this as someone that has been in Bitcoin for a long time and has written a lot on the subject for the past few years. This is the best treatment of Bitcoin and money out there.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. This book is useful in understanding the author's worldview - not Bitcoin. Only the last few chapters actually pertain to Bitcoin. The rest of the text is a history of money that has been heavily distorted through the lens of personal bias. Historical facts are conveniently ignored in service of the author's personal agenda. For example, the author claims "Germany suffered from hyperinflation after the Treaty of Versailles had imposed large reparations on it and it sought to repay them using inflation." This is patently impossible, since the Treaty of Versailles required reparations to be paid in gold. This is just one of many, many inaccurate statements within the text. If you're looking for an ahistorical polemic screed against central banks and Keynesian economics, this is your book. However, you seek to understand Bitcoin and the underlying technologies, you'd be better off with another book. Read Online The Bitcoin Standard: The Decentralized Alternative to Central Banking Download The Bitcoin Standard: The Decentralized Alternative to Central Banking The Bitcoin Standard: The Decentralized Alternative to Central Banking PDF The Bitcoin Standard: The Decentralized Alternative to Central Banking Mobi Free Reading The Bitcoin Standard: The Decentralized Alternative to Central Banking Download Free Pdf The Bitcoin Standard: The Decentralized Alternative to Central Banking PDF Online The Bitcoin Standard: The Decentralized Alternative to Central Banking Mobi Online The Bitcoin Standard: The Decentralized Alternative to Central Banking Reading Online The Bitcoin Standard: The Decentralized Alternative to Central Banking Read Online Saifedean Ammous Download Saifedean Ammous Saifedean Ammous PDF Saifedean Ammous Mobi Free Reading Saifedean Ammous Download Free Pdf Saifedean Ammous PDF Online Saifedean Ammous Mobi Online Saifedean Ammous Reading Online Saifedean AmmousRead Unsheltered: A Novel By Barbara Kingsolver
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