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A comprehensive and reliable work exploring Bitcoin and its place in the history of money. When a pseudonymous programmer introduced "a new electronic cash system that is fully peer-to-peer, without a trusted third party" to a small online mailing list in 2008, few noticed. Ten years later, and against all odds, this autonomous and decentralized software offers an unstoppable and globally accessible alternative to hard money in modern central banks.
The Bitcoin Standard analyzes the historical context of Bitcoin's rise, the economic properties that enable it to grow rapidly, and its potential economic, political, and social impacts. It explores the history of technologies that performed the functions of money, from primitive barter systems to metals, coins, and the gold standard, all the way to modern government debt.
The author Saifedean Ammous takes the reader on an interesting journey as he analyzes what gave these technologies the role of money and how most lost it. His work provides a good idea of what makes currencies reliable and sets the stage for a discussion on their implications for the future of individuals and society.
The final chapter of the book explores common questions about Bitcoin: Is Bitcoin mining a waste of energy? Is Bitcoin for criminals? Who controls Bitcoin and can it change if desired? How can Bitcoin be destroyed? The Bitcoin Standard is the essential resource for a clear understanding of the rise of the decentralized, politically independent, free-market alternative to national central banks.
Pages: 304, Year Published: 0406, Dimensions: 16.3x16.3cm
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