Overview
Bitcoin is the digital age’s novel, decentralized, and automated solution to the problem of money: accessible worldwide, controlled by nobody. Can this young upstart money challenge the global monetary order? Economist Saifedean Ammous traces the history of the technologies of money to seashells, limestones, cattle, salt, beads, metals, and government debt, explaining what gave these technologies their monetary role, what makes for sound money, and the benefits of a sound monetary regime to economic growth, innovation, culture, trade, individual freedom, and international peace.
The monetary and historical analysis sets the stage for understanding the mechanics of the operation of Bitcoin, the reasons for its initial success, and the role it could play in an information economy. Rather than serving as a currency and network for consumer purchases, the author argues Bitcoin is better suited as a store of value and network for settlement between large financial institutions. 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 true importance may just lie in providing a decentralized, neutral, free-market alternative to national central banks.
About the author
Dr. Saifedean Ammous is the author of The Bitcoin Standard: The Decentralized Alternative to Central Banking, the best-selling groundbreaking study of the economics of bitcoin. The book was a pioneer in explaining bitcoin’s value proposition as the hardest money ever discovered, and the only working alternative to national central banks for international payments.
Dr. Ammous holds a PhD in Sustainable Development from Columbia University, where his doctoral thesis studied the economics of biofuels and alternative energy sources. He also holds an MSc in Development Management from the London School of Economics, and a Bachelor of Engineering from the American University of Beirut.
Reviews
The Bitcoin Standard: The Decentralized Alternative to Central Banking Audiobook mp3 is the audiobook that everyone should listen to understand the history of money from beads and rocks to the evolution of digital currency. Current fiscal policy is explained as regard to how money works and of how digital currency can change the world and why you can be confident in it.
Governments have control over money, meaning they have control over you. Bitcoin offers freedom from control and inflation. There will only ever be 21 million bitcoins (there are smaller denominations) – not like US dollars where the continual printing of more and more tends to devalue your money.
I could go on, but I wish that this audiobook/topic was a class for high schoolers so they could better understand what money is, why it has value, and how invest in their futures as current fiscal policies cannot continue.
Highly recommended!
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