The Bitcoin Standard: The Decentralized Alternative to Central Banking by Saifedean Ammous (Author)
The Bitcoin Standard analyzes the historical context of the rise of Bitcoin, the economic properties that have allowed it to grow as fast as it did, and its likely economic, social, and political implications.
Bitcoin is a fairly new innovation of the digital age, Saifedean Ammous takes the reader on an exciting journey through the history of technologies performing the functions of currency, from primitive systems of trading lime-stones and seashells, to metals, coins, gold, and modern government debt.
The book explains the operations 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 currency without having to rely on, or trust, any authorities, third party or infrastructure in the physical world. Bitcoin is best understood as the first successfully implemented form of digital currency. Saifedean Ammous’ firm grasp of the technological possibilities as well as the historical realities of monetary evolution provides for a clear exploration of the ramifications of decentralized money.
The final chapter of the book explores some of the most common questions asked about Bitcoin:
Bitcoin mining a waste of energy?
Is Bitcoin for criminals?
Who controls Bitcoin, and can they change it if they please?
How can Bitcoin be killed?
And what to make of all the thousands of Bitcoin knock-offs, and the many supposed applications of Bitcoin’s ‘blockchain technology’?
The Bitcoin Standard book is the essential resource for a clear understanding of the rise of Bitcoin, the Internet’s decentralized, free-market alternative to national central banks.
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