The Bitcoin Standard: The Decentralized Alternative to Central Banking

tl;dr: "The Bitcoin Standard" by Saifedean Ammous explores the history of money and critiques modern central banking systems. The book argues that Bitcoin, a decentralized digital currency with a limited supply, has the potential to create a more stable financial system and disrupt the current central banking systems. The author explains how Bitcoin works and highlights its security features. Overall, the book presents a compelling case for Bitcoin as a decentralized alternative to central banking.


"The Bitcoin Standard: The Decentralized Alternative to Central Banking" by Saifedean Ammous is a book that examines the history of money, the flaws of modern central banking systems, and how Bitcoin can provide a decentralized alternative to these systems.

The book argues that money is an essential tool for human cooperation, and that throughout history, different forms of money have emerged and evolved. However, the author argues that modern fiat currencies, which are not backed by any commodity, are prone to inflation and lose their value over time, leading to economic instability and financial crises.

According to the author, Bitcoin is a new form of digital money that solves many of the problems of modern fiat currencies. Bitcoin is decentralized, meaning that it is not controlled by any central authority or government. It is also limited in supply, with only 21 million bitcoins that can ever exist, making it resistant to inflation.

The book also delves into the technology behind Bitcoin, explaining how it works and how it is secured through a decentralized network of nodes. The author argues that the use of cryptography and game theory in Bitcoin's design ensures its security and makes it virtually impossible to hack.

Furthermore, the book explores the potential impact of Bitcoin on the global economy and financial system. The author argues that Bitcoin has the potential to disrupt the current central banking system, allowing individuals to have greater control over their money and providing a more stable financial system.

Overall, "The Bitcoin Standard" is a thought-provoking book that provides a compelling argument for the use of Bitcoin as a decentralized alternative to central banking. The book is well-researched and provides a thorough analysis of the history of money and the flaws of modern fiat currencies. It is recommended for anyone interested in understanding the potential of Bitcoin and its impact on the future of money.


Publisher: Wiley
Publication date: April 24, 2018
Print length: 304 pages
ISBN-13: 978-1119473862