The Bitcoin Standard
The Decentralized Alternative to Central Banking
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The Bitcoin Standard
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Narrated by:
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James Fouhey
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By:
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Saifedean Ammous
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.
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.What listeners say about The Bitcoin Standard
Average Customer RatingsReviews - Please select the tabs below to change the source of reviews.
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- andiputra7
- 30-09-2019
Clear No Hype Explanation on what Makes Bitcoin Tick
This audiobook provide a clear explanation on the history of money, the importance of hard money serving as reserve currency, and how Bitcoin, like gold before it, could possibly play this role in the future.
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2 people found this helpful
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- Kyle
- 19-01-2020
Should be mandatory reading.
This book should be mandatory reading at school. Most have no idea what money is and almost no one knows about sound money. The bitcoin information was very helpful to understand such a complex system
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2 people found this helpful
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Overall4 out of 5 stars
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Performance4 out of 5 stars
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Story4 out of 5 stars
- Andrew Biz
- 09-12-2020
The History of Money and Bitcoins Place
This was a fascinating read and deserves your attention if you want to understand money and the Bitcoin network. It wasn't hard to follow and made great points from history.
I only had one issue with it. As the author was slinging mud at the second largest blockchain Ethereum. As the DAO hack did happen the author forgot to mention that Bitcoins supply was modified to having 21 Billion instead of 21 million in the early days before it was patched. I think we have to acknowledge nothing is perfect and to compare Ethereum to Bitcoin is essentially comparing it to chalk and cheese. Serving different functions.
I absolutely recommend reading this book.
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1 person found this helpful
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- Anonymous User
- 07-07-2021
The evolution of money is inevitable
Loved the way the evolution of money was told.
Very informative and insightful. We really are on the brink of a new age of money
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1 person found this helpful
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- D
- 26-06-2019
A History and Future of Money
Simply the best book on Bitcoin. A must for beginner to expert. Highly recommended!! A+
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- Corey
- 24-07-2018
“BUY BITCOIN”
Bitcoin is the biggest evolution in economic’s in our lifetime, this book has finally allowed me to understand just how important this movement is “Buy Bitcoin”
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- Lewis Rowland-Coman
- 29-11-2023
Exceptional book
The book explains an unpack. The complexities of bitcoin, and it’s important in the modern world. Don’t sleep on this technology.
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Overall4 out of 5 stars
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Performance4 out of 5 stars
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- Anonymous User
- 18-12-2024
Interesting read and good overview of bitcoin
Read the book to get a better understanding of bitcoin and I think the book achieved that purpose. However, the author seems to push his view without really considering alternative ideas so I think I will need to read more to ensure a balanced overview of the topic.
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Overall4 out of 5 stars
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- Mark
- 31-12-2018
Very informative and thought-provoking
A great overview of Bitcoin and the reasons it was created. The first half of the book - which covers a history of 'hard' money and 'soft' or 'easy' money - is interesting in itself, but more importantly provides the essential context for the following exposition of Bitcoin, its purpose and its potential. A really good piece of work.
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Overall5 out of 5 stars
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- Anonymous User
- 16-04-2019
AMAZING!!
14hrs of listening in 1 day! Loved how I got to learn about how currencies even started and evolved bc without that, you can't understand money or bitcoin. You won't understand the problems it solves and where it is heading!! WOW! Great book. look forward to listening again
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