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Cover of The Bitcoin Standard by Saifedean Ammous

The Bitcoin Standard

The Decentralized Alternative to Central Banking

by Saifedean Ammous

5/5
Wiley 304 pages April 24, 2018

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 to the surprise of many — Bitcoin has grown to become a financial asset with a market value of hundreds of billions of dollars. Ammous makes the economic case for it.

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Jim's Review

🐛
Ammous is an Austrian-school economist, and this book is the most rigorous argument you'll find for why Bitcoin matters: it's the hardest money humans have ever invented, with a fixed supply enforced by math instead of central bankers. Whether you buy the conclusion depends on how much you trust the Fed. The first half of the book is a history of money — seashells, rai stones, gold, fiat — that's genuinely fascinating regardless of how you feel about crypto. The second half is the bitcoin pitch. The tone is occasionally arrogant, but the economic reasoning is solid. Five worms. The single best book to give a no-coiner who keeps asking "but why does it have value?"

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