The Bitcoin Standard
by Saifedean Ammous, James Fouhey (narrator) · first published 2018
70% recommend28% neutral2% critical
Why HN recommends it
Explains Bitcoin through the history of money, hard money versus fiat, and Austrian economics. Suited to readers who want the economic case for Bitcoin, or want to understand the Bitcoin maximalist view.
Summarised by Claude from recommending comments
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 i
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…innate value and are only useful as a pyramid scheme, something big crypto influencers are knowingly using to profit from those who don’t realise it This book will refute the point https://www.amazon.com/Bitcoin-Standard-Decentralized-Altern... TLDR Bitcoin is the hardest money ever created, politicians / society cannot manipulate it, therefore store wealth in bitcoin. > Both cryptocurrencies and NFTs cause high environmental…
on “Why NFTs are bad: the long version” ↗…becomes the global reserve asset, just as gold was in the past. Bitcoin is superior to gold in every single aspect except for the number of years it has existed. To learn more: https://www.amazon.com/Bitcoin-Standard-Decentralized-Altern...
on “De-Dollarization Is Happening at a ‘Stunning’ Pace” ↗Ethereum is very different from Bitcoin, so this comment is offtopic, and it's tackling a different problem space, but if you are really interested, I'm reading the Bitcoin Standard book, and I can recommend it if you really want to understand what problem Bitcoin solves. There's no simple answer, only learning about the history of money and monetary theory from a non-Keynsian view.…
on “Ethereum 2.0 launches” ↗The Bitcoin Standard, by Seifedean Ammous (just published). Incredibly fascinating journey through the history of money, past present and an outlook with digital currencies in mind.
on “Ask HN: 2018 Summer Reading List?” ↗The Bitcoin Standard by Saifedean Ammous. Amazing insight on the past and future of money.
on “Ask HN: Recommend one book I need to read this summer?” ↗Along the same vein, I can't recommend The Bitcoin Standard (https://www.goodreads.com/book/show/36448501-the-bitcoin-sta...) enough. The first 60% of the book deals with the creation and characteristics of fiat money and its effect in the World's economy.
on “The Invention of Money” ↗…debt-tokens on chains that enable this, for example Ethereum. Bitcoin maximalists who don't agree with debt-based economy are obviously not happy about this. To better understand that point of view, The Bitcoin Standard by Saifedean Ammous is a great read, whether you will agree with it or not.
on “Money as a System of Control (2017)” ↗Great suggestion. Also, might I recommend The Bitcoin Standard by Saifedean Ammous. Half the book is about money in general, not just Bitcoin. Very well written. https://saifedean.com/the-book/
on “Ask HN: What's the most valuable thing you can learn in an hour?” ↗For a relatively quick read with an alternative perspective, check out The Bitcoin Standard https://www.amazon.com/Bitcoin-Standard-Decentralized-Altern... There is a logical explanation as to why bitcoin could be very valuable in our current world. It is because it cannot be inflated beyond…
on “Penny Stocks Are Booming, Which Is Good News for Swindlers” ↗…it. If you haven’t made up your mind on Bitcoin and still have an open mind to learning what it is, or even if you want more intelligent arguments to critique and debunk, I highly recommend reading The Bitcoin Standard written by Saifedean Ammous.
on “Bitcoin is a Ponzi” ↗…of control. You think freezing a bank account is bad? Wait until they can make your money expire or prevent you from transacting with anyone they deem "bad actors." Recommended: https://www.amazon.com/Bitcoin-Standard-Decentralized-Altern...
on “I was wrong, we need crypto” ↗- Neromancer - 1984 - The Bitcoin Standard - The Conquest of Happiness (Bertrand Russel) - The Book of Why
on “Ask HN: 2018 Summer Reading List?” ↗I truly enjoyed reading Saifedean Ammous ‘Bitcoin Standard’. Among other things he explores the relationship between the soundness of a monetary system, the establishment of the gold standard and industrial revolution and technological progress and what he calls…
on “You Promised Me Mars Colonies but I Got Facebook” ↗…Age of Surveillance Capitalism by Shoshana Zuboff Mastering Ethereum by Andreas M. Antonopoulos The Creature from Jekyll Island by G. Edward Griffin Mastering Bitcoin by Andreas M. Antonopoulos The Bitcoin Standard by Saifedean Ammous Digital Gold by Nathaniel Popper The Internet of Money by Andreas M. Antonopoulos Creating the Twentieth Century by Vaclav Smil Mastering Bitcoin by Andreas M. Antonopoulos Applied…
on “Top 57 Cryptocurrency Books” ↗The Bitcoin Standard by Saifedean Ammous is an excellent book on the economics behind bitcoin as well.
on “Articles to Learn about BTC, ETH, and Crypto” ↗