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The Bitcoin Standard

The Decentralized Alternative to Central Banking
Narrated by: James Fouhey
Length: 11 hrs and 16 mins
4.5 out of 5 stars (174 ratings)

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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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    5 out of 5 stars
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    5 out of 5 stars

My perspective on the world turned upside down

Want to find out why the world is the way it is today? Look no further than this book. This book is about more than just Bitcoin. It’s about what makes good hard money and the consequences on society for not choosing hard money and instead choosing easy, infinitely printed money. Wonder why it’s so much harder to get onto the property ladder today and much more? Look no further than the printing press of your central bank. This book is amazing and must be read by everyone. The only slight small thing I’m not in agreement with however is that blockchain has no use outside of digital cash. I agree that projects should not call themselves decentralised if they can alter the blockchain when events don’t go their way but I do think Bitcoin and blockchain will have a profound impact on our society for years to come. The possibilities and future events are yet to be imagined. Im so excited for what happens next in this space.

3 of 3 people found this review helpful

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This is one of the best books I have ever read

I highly recommend this book, not just for a great understanding of Bitcoin but for economics and money explained in an easy to follow manner.

1 of 1 people found this review helpful

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  • LC
  • 18-12-18

Disappointing due to bias

Some interesting points made but it is clearly very biased and is providing a one sided subset of the facts which are presented in a distorted and misleading way. There is also a huge amount of repetition, strongly pushing the favoured viewpoint.

3 of 4 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.

3 of 4 people found this review helpful

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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.

3 of 4 people found this review helpful

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Bitcoin and other currencies

This book explains a lot more than bitcoin. Fascinating stuff! Worth a second listen for sure.

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Fascinating overview of the history of money

I went into this looking for a better understanding of bitcoin, but I got much more than that.

This covers the history of money right from bartering, through to the gold standard, the later bretton-woods system, and fiat money. If like me, you were ignorant of this history, and are keen to learn, then the book is worth listening to on that basis alone.

The narrator is a little... not to my taste, and sometimes the flow of the book can become tricky to understand, requiring frequent rewinds on my behalf (hang on, what is hard money again?), but other than that, I love it.

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what an eye opener!

best book. does an awesome job of opening up your eyes to how bad the current monetary system is

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Amazing

Loved the whole Audio experiance and the book was Amazing full of knowledge. I would recommend Bitcoin Standard in any form.

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Very interesting, but biased view of the top

Although I do not agree with the author's point of view on growth, art and the environment (topics briefly covered in the book); I have learned an lot about both the gold standard and bit coin. Even with a very monotonous narration, I have found this extremely fascinating and recommend it to anyone wanting to learn more about why we are where we are and what the future might bring.

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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.

4 of 4 people found this review helpful

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  • PG
  • 22-06-18

Must read

This book is a must read for everyone interested in economics, finance or politics. Bitcoin will change the world as we know it today.

3 of 3 people found this review helpful

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    4 out of 5 stars
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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

2 of 2 people found this review helpful

  • Overall
    5 out of 5 stars
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  • 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.

2 of 2 people found this review helpful

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    4 out of 5 stars
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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.

2 of 2 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.

2 of 2 people found this review helpful

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    5 out of 5 stars
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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

2 of 2 people found this review helpful

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    5 out of 5 stars
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  • AW
  • 23-06-18

A Must Read for Anyone Investing in Cryptocurrency

The most clear and compelling argument for Bitcoin Maximalists to date. A must read for anyone investing in cryptocurrency.

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.

3 of 4 people found this review helpful

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    4 out of 5 stars
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  • Marvin Ammori
  • 15-07-18

Interesting but polemical and at times redundant

Very interesting and some original arguments but his dismissive tone and unnecessary (not necessarily accurate) personal life attacks on opponents and incendiary language make you wonder how thoughtful he is. Still I'll recommend.

2 of 3 people found this review helpful