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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. 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. 

©2018 Saifedean Ammous (P)2018 Audible, Inc.

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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.

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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.

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I thought I understood money and Bitcoin

I knew I was on the right track, but had much to learn. this book helped me wrap it nicley in ways I couldn't hope to explain the technology and woth macroeconomice implications I could obly dream to relay. This is a must read. Author gets a little carried away in a couple select sections, but 100% recommend

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Amazing book on the case for bitcoin

Great inside into the history of hard money and how Bitcoin fits into this long story of humans fascination with money.A must read for all.bitcoiners alcoiners or no coiners.

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This book will become an economic classic

This book predicts and explains the rise of Bitcoin as a new backing of money. Bitcoin is the money in itself. The author demonstrates this in a historical context.

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Die Vergangenheit, Gegenwart und Zukunft von Geld.

Ein enorm gutes Buch für alle die Geld in all seinen Ausführungen und in seiner Tiefe verstehen wollen.

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Best book for understanding Bitcoin, Cryptocurrencies and Blockchain

Saifedean Ammous describes all important properties, history and future of Bitcoin and lays out the numerous reasons that make it the most, if not the only, promising cryptocurrency and a use case for the blockchain technology to ever exist. He thoroughly examines the reasons why Bitcoin’s competitors and critics will be unable to affect its inevitable adoption as the only true uninflatable, immutable and censorship-resistant store of value. A must read for anyone who cares about the, possibly, most revolutionary innovation of their lifetime.

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Deep dive into why you should care about Bitcoin

Excellent perspective on the nature of sound money. A great read, well researched & full of solid info.
Going to have to listen a few times to take it all in!

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Learn Money

Explains what schools don't teach us about money, eye opening to say the least. Brilliant!

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  • warren smyth
  • 06-17-18

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.