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Summary

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.

PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your Library section along with the audio.

©2018 Saifedean Ammous (P)2018 Audible, Inc.

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Outstanding Book

A great book on Bitcoin. Loved the history of money chapters which showed why Bitcoin is hard money. Would highly recommend. Some real lightbulb moments whilst reading.

2 of 2 people found this review helpful

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All you need to know about Bitcoin

This book and the book ”the internet of money” is all you need as an intoduction to Bitcoin.

1 of 1 people found this review helpful

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  • Amazon Customer
  • 30-07-18

Bit monotone but great info

audio speaker is a bit monotone and can drone on. info however is very good for anyone looking to invest in bitcoin or looking for info on it.

2 of 2 people found this review helpful

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  • Anonymous User
  • 08-07-18

Superb understanding of money and economics

I finished thus book within days of buying it. It covers basic knowledge as well as enough depth about bitcoin help the reader understand how bitcoin is an excellent world currency.

2 of 2 people found this review helpful

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  • brian moloney
  • 01-09-18

Nothing new here<br />

I want to learn and hear about bitcoin not a prolonged dis on Fiat currency and government!

1 of 1 people found this review helpful

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  • eric olszewski
  • 11-08-18

Good Austrian economics, poorly presented

great dialogue and a convincing story, but it was astonishingly redundant and stressed the same points throughout (which is fine, to a degree). I much more appreciated the general economics information than anything else

1 of 1 people found this review helpful

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  • Paulo
  • 05-08-18

Biased personal author's manifest

This is not an economics study on currency as I expected, It's a manifest anti Keynes and pro Hayek, which is ok if that's what you call it. It doesn't even consider historical and political circumstances to defend the author's love for the Austrian school of economics. Again it's ok to defend your love if that's what you're into, just don't sell it like an economics study. If you loathe modern art so much (!) and love the gold standard, maybe you belong in the 19th century. Hayek himself admitted that no return to the gold standard was possible internationally. As for Bitcoin... I learned nothing new.

1 of 1 people found this review helpful

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    5 out of 5 stars
  • Sean
  • 12-07-18

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.

1 of 1 people found this review helpful

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  • Odwalla
  • 03-07-18

A succinct and thorough treatment

Content and performance were both outstanding.

Everyone with ANY level of interest in anything related to bitcoin or even just economics in general should read this book.

1 of 1 people found this review helpful

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  • hrobbins
  • 03-07-18

Must read.

Might be an artifact of the translation into audiobook, but I noticed a lot of repetition and belaboring points. Also a clear bit of bias at points and what occasionally felt like adhominem attacks. Overall though, it's probably the best overall analysis of the potential and pitfalls of bitcoin and blockchain technology I've seen in one place.

1 of 1 people found this review helpful

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  • Anonymous User
  • 26-06-18

the best economic of money

the best economic review about money ever created with history and very good explanation what is bitcoin.

1 of 1 people found this review helpful

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  • Specialk
  • 25-06-18

epic

awesome book. great history money throughout history and the destruction government meddling causes. good narration too

1 of 1 people found this review helpful