The Bitcoin Standard Audiobook By Saifedean Ammous cover art

The Bitcoin Standard

The Decentralized Alternative to Central Banking

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The Bitcoin Standard

By: Saifedean Ammous
Narrated by: James Fouhey
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About this listen

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.
E-Commerce Economics Personal Finance Cryptocurrency Inspiring

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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.

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3 people found this helpful

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Great summary of the history of money and Bitcoin

Summarizes the history of money, storing value, and trade. It then explains how money has been broken and why Bitcoin matters.

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2 people found this helpful

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    5 out of 5 stars

Good Book

Good book for all levels of Bitcoin enthusiasts. did a nice job of talking thru the history of various currencies along with the past, present, and future potential of Bitcoin and other cryptocurrencies.

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1 person found this helpful

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Great

Must read if you're a crypto trader or a beginner. Plenty of history and in depth look at the technology behind bitcoin.

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1 person found this helpful

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Broad explanation of what money is

I found this book fascinating. Most of the book carefully explains what makes money valuable and the historical pitfalls of various media used in the past. In hindsight the approach taken by the author has left me feeling confident that I understand what money really is and its pitfalls. I feel more secure in my approach to digital currency , what it is and what is in not. I recommend the book to every school child as basic reading! Of course the IMF wont let that happen. The technicalities of Bitcoin are covered in simple terms so if you want in depth knowledge specific to Bitcoin then you need to find it elsewhere, a hardcopy book would be a better medium for that. Certainly listen to this book before jumping into technicalities as the real issues are around trust, money hardness and the massive fight brewing against fiat currency.

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    4 out of 5 stars

Pretty good

Finally, someone that sees and articulates the ignorance of Keynesian economics! Very interesting angles on gold and its relevance now and in the future. A good and balanced view of the true power of Bitcoin and the block chain versus the hype and copy cats that surround it.

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a true masterpiece

the attention to detail is astonishing. a new bitcoin/austrian economics classic, truly a must read/listen.

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Very informative for a newbie!

Very informative for a newbie! Great insight in to the nature of 'money' and how it works.

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Great explanation of bitcoin and the reason it works

This book talks about the history of currencies 80% of the time. I had zero knowledge of how governments affect their own currency so it was nice to learn about it. The other 20% is focused on describing principles and technological aspects of bitcoin.

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    3 out of 5 stars

Exceptional clarity with a touch of fanaticism

It was a pleasure to listen to this audio book as the author took a listener through the history of money and arguments in favor of bitcoin. If the author did not like some idea or personality, though, no effort was spared to attack that including low brow tactics of assaulting character, ridiculing oponents. Surprising was also lack of imagination as to how less favored technologies such as altcoins could eventually take off (which they did by 2021). So that part was less pleaureable.

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