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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 (99 ratings)

Non-member price: $34.76

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Publisher's 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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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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The #1 book to Understanding Money and Bitcoin

Fantastic book which outlines the foundations of real money and the future of money. It's hardly a book a book about Bitcoin but really a book on real money, not fake money.

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excellent look at the history and future of money

great book, would recommend to anyone interested in economics, bitcoin, future tech and the history of money.

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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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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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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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Incredibly insightful, well-researched book

The best Bitcoin/crypto book written to date. Packed full of expert Bitcoin knowledge. Thankyou Saifedean!

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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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“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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  • eric olszewski
  • 11-08-2018

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

4 people found this helpful

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  • PG
  • 22-06-2018

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 people found this helpful

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    5 out of 5 stars
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  • Sean
  • 12-07-2018

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 people found this helpful

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  • hrobbins
  • 03-07-2018

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 people found this helpful

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  • Anonymous User
  • 26-06-2018

the best economic of money

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

2 people found this helpful

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  • AW
  • 23-06-2018

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 people found this helpful

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  • Amazon Customer
  • 30-07-2018

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 people found this helpful

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  • Mihir Patel
  • 20-01-2020

Extrapolation Crazy, need another book on bitcoin

This guy makes crazy assumptions about the present as to why art is the way it is from economics. I’ve never heard of someone so thick headed that their opinions bleed their own biases into what was supposed to be researched writing. Anyone can go on and make up explanations that sound right.

1 person found this helpful

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  • bk
  • 17-01-2020

Interesting but not convincing

This book is useful to know the limitations of Bitcoin and I don't think I want to use it after reading this book.

Who want to mind Bitcoin when Bitcoin does not generate any new coins?
What happens when nobody is maintaining Bitcoin blocks?

1 person found this helpful

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  • Marvin Ammori
  • 15-07-2018

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.

3 people found this helpful

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  • Vincent
  • 08-03-2019

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 people found this helpful

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  • Anonymous User
  • 21-12-2018

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 person found this helpful

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  • LC
  • 18-12-2018

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 people found this helpful

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  • Anonymous User
  • 15-08-2018

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 people found this helpful

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  • warren smyth
  • 17-06-2018

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 people found this helpful

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  • Mr. M. J. Young
  • 23-01-2020

Great book for understanding the advantages of the gold standard and its relationship to bitcoin

The first few chapters of this book are not really about bitcoin but rather about the gold standard and the libertarian argument for keeping this. The book then goes on to argue that bitcoin is a modern replacement for gold, that it alone (rather than any other cryptocurrency) has particular strengths, such as immutability and being out of control (having no one in charge). These make it an ideal replacement for gold and a long-term store of value.

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  • Santiago
  • 16-01-2020

Bitcoin maximalism

Interesting audiobook, puts Bitcoin in context with Gold, Silver, altcoins and government money. I disagree with the singular role claimed for Bitcoin vs other cryptocurrencies, and the broad generalizations about altcoins. On the other hand, the historical analysis of money and monetary standards was great, and the criticism of the current hype of blockchain projects without underlying native Money was on point. Moral of the story: Focus on decentralized Digital Cash.

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    4 out of 5 stars
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  • Nigel Sharp
  • 13-12-2019

well argued but one sided

Helped me understand the argument against altcoins. I'll be exchanging my altcoins for bitcoin. The title of the book refers to The Gold Standard rather than the bitcoin protocol (though this IS explained in layman's terms)

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  • MR M HAMILTON
  • 09-12-2019

Comprehensive, fascinating and ground breaking.

A very thorough review of a revolutionary development.
I was gripped by it all despite the somewhat tedious repetition.

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  • Alexandra
  • 24-11-2019

New perspective on the monetary policy of the XX

Dr. Ammous has a very interesting take on global economics explaining really well both the problem and the solution: bitcoin