Bitocin Standard, Nonfiction Book Review
Non-Fiction by Saifedean Ammous
The Bitcoin Standard: The Decentralized Alternative to Central Banking by Saifedean Ammous explores the historical, economic, and philosophical significance of Bitcoin as a form of money and an alternative to traditional fiat currencies. Ammous argues that Bitcoin represents a new, more stable and sound monetary system compared to the inflationary and debt-driven models of central banking.
The book begins by detailing the history of money, explaining how various forms of currency evolved over time, from commodity money like gold to paper money and modern fiat currencies. Ammous critiques the current financial system, particularly the role of central banks in manipulating money supply and interest rates, leading to inflation, devaluation, and economic instability.
Ammous then introduces Bitcoin as a decentralized, digital form of money that is not controlled by any government or institution. He explains how Bitcoin's underlying technology, blockchain, provides a secure, transparent, and immutable ledger for transactions. Its limited supply of 21 million coins and the proof-of-work consensus mechanism are highlighted as key factors that make Bitcoin resistant to inflation and counterfeiting.
The book also delves into the economic implications of adopting Bitcoin as a global standard, suggesting that it could lead to a more sound monetary system and empower individuals by reducing dependence on central banks and governments. Ammous explores potential challenges, such as Bitcoin's volatility and scalability issues, but argues that these are temporary hurdles that can be addressed as the technology matures.
Ultimately, The Bitcoin Standard is a defense of Bitcoin as the future of money, advocating for its role in promoting economic stability, individual freedom, and a more equitable financial system. The book is both an economic treatise and a call for adopting Bitcoin as the global standard for monetary value.
About the Author
Saifedean Ammous is an internationally best-selling economist and author. In 2018, Ammous authored The Bitcoin Standard: The Decentralized Alternative to Central Banking, the best-selling book on bitcoin, published in 37 languages. In 2021, he published The Fiat Standard: The Debt Slavery Alternative to Human Civilization, available in 26 languages. In 2023, Saifedean published Principles of Economics, a comprehensive textbook in economics in the Austrian school tradition, published in 14 languages. Saifedean teaches courses on the economics of bitcoin, and economics in the Austrian school tradition, on his online learning platform Saifedean.com, and also hosts The Bitcoin Standard Podcast.
Saifedean was a professor of Economics at the Lebanese American University from 2009 to 2019. He holds a PhD in Sustainable Development from Columbia University, a Masters in Development Management from the London School of Economics, and a Bachelor in Mechanical Engineering from the American University of Beirut.
Compiled by
Srini
Reference Link : https://www.amazon.in/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861