From the library
The Bitcoin Standard: The Decentralized Alternative to Central Banking
Saifedean Ammous, 2018
In one paragraph
Saifedean Ammous examines Bitcoin's historical context as a decentralized digital currency and its potential as a new monetary standard. Explores economic principles of sound money, traces monetary history from primitive systems to modern government debt, and argues for Bitcoin's role in the future of finance. Published in 39 languages.
Also tagged
Where this sits in the operating system
Mental Models & Decision Frameworks
Mental Models & Decision Frameworks
Mental Models & Decision Frameworks
Key insights
Hardness of money is measured by stock-to-flow: how hard it is to produce more of what already exists.
Easy money shortens time preference, and the argument that this shapes culture is the most interesting and least testable claim in the book.
Polemical and one-sided by design. The monetary history is worth reading; the conclusions are advocacy.
Recognise it early
The failure and the correction sit side by side deliberately. Read the left column asking whether any of it is already true of you.
Confusing financial returns with real value creation
Short-term thinking due to quarterly pressure
Centralizing control instead of distributing decision-making
Ignoring Austrian business cycle implications
Using debt without considering real interest rates
The same idea, argued differently
David R. York, Andrew L. Howell
Adam Smith
Shane Parrish
Ron Chernow
The full breakdown
Before you close this
Naming the specific moment you will act roughly doubles the odds you do.
Reference
- Author
- Saifedean Ammous
- Published
- 2018
- Category
- Business
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