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The Bitcoin Standard

The Decentralized Alternative to Central Banking
Narrated by: James Fouhey
Length: 11 hrs and 16 mins
5 out of 5 stars (58 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.

What members say

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    5 out of 5 stars
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    5 out of 5 stars

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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  • Mark
  • Sydney
  • 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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“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”

0 of 3 people found this review 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.

3 of 3 people found this review helpful

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  • Anonymous User
  • 08-07-2018

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 3 people found this review 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 of 3 people found this review helpful

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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

2 of 2 people found this review helpful

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    5 out of 5 stars
  • 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 of 2 people found this review helpful

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  • Odwalla
  • 03-07-2018

A succinct and thorough treatment

Content and performance were both outstanding.

Everyone with ANY level of interest in anything related to bitcoin or even just economics in general should read this book.

2 of 2 people found this review 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 of 2 people found this review 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 of 2 people found this review helpful

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  • Specialk
  • 25-06-2018

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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  • 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 of 2 people found this review 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 of 3 people found this review 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.

2 of 2 people found this review 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 of 1 people found this review 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 of 4 people found this review 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 of 4 people found this review helpful

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  • Lokesh Patel
  • 22-07-2019

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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  • Vitória Sanvicente
  • 04-07-2019

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
  • 16-06-2019

I wish I listened to or read this book earlier.

Great book that describes history of money and what bitcoin is. The last chapter was eye opening and described the pointless application of blockchain technology in many 'revolutionary' projects and altcoins. Highly recommended.

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    5 out of 5 stars
  • John Stoneley
  • 06-06-2019

A must have for any investor in crypto currency <br />

Am amazing book, made me more aware of the tech behind blockchain.
The points the author raises in the book will most definitely get the cogs turning in your head.

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  • Amazon Customer
  • 05-06-2019

Not very good

Arrogant writer who seems to believe he holds the absolute truth, not only in economics but also in other areas of life. He just insults those with whom he disagrees and presents his very limited and narrow views as irrefutable, with very limited or no justification. Don’t waste your time, there are plenty of good books on economics. Don’t be fooled by the title either, this is not about bitcoin, it is an apology of the free market and neocon ideology.