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Summary of Saifedean Ammous’s Book...

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(as of Aug 16,2022 08:06:37 UTC – Details)


In The summary of Bitcoin Standard, the author offers a take on why Bitcoin is the best version of what Austrians call “sound money” and why he believes that makes it the only cryptocurrency worth paying attention to.

Starting with a history of gold, the guide explores the different types of money in history and shows how Bitcoin fits in. A lot of the argument hinges on the notion of time preference – that sound money which can’t be inflated away, incentives people to think long term.

The core argument is interesting and goes over all the basics of money, investment, and production, the role of time preference, the importance of sound money, and the history of money before he introduces bitcoin. He explains what money is and how society functions before; it then reveals the possible function bitcoin could have in the modern economy.

“A money that is easy to produce is no money at all, and easy money does not make a society richer; on the contrary, it makes it poorer by placing all its hard-earned wealth for sale in exchange for something easy to produce.” ― Saifedean Ammous.

Disclaimer
This summary is meant to enhance your reading experience. The insights, analysis, and overall essence is an unofficial work and not the original book. It is not intended as a substitute for the original work it summarizes. It is not licensed, approved, authorized, or endorsed by the original author or publisher.

ASIN‏:‎B09FS9ZMWT
Publisher‏:‎Independently published (September 12, 2021)
Language‏:‎English
Paperback‏:‎31 pages
ISBN-13‏:‎979-8475730669
Item Weight‏:‎3.52 ounces
Dimensions‏:‎6 x 0.07 x 9 inches