Summary of Saifedean Ammous's The Bitcoin Standard

By IRB Media

Get the Summary of Saifedean Ammous's The Bitcoin Standard in 20 minutes. Please note: This is a summary & not the original book. Original book introduction: When a pseudonymous programmer introduced “a new electronic cash system that’s fully peer-to-peer, with no trusted third party” to a small Online mailing list in 2008, very few paid attention. Ten years later, and against all odds, this upstart autonomous decentralized software offers an unstoppable and globally-accessible hard money alternative to modern central banks. The Bitcoin Standard analyzes the historical context to the rise of bitcoin, the economic properties that have allowed it to grow quickly, and its likely economic, political, and social implications.

• Language: English
• Publisher: IRB Media
• Release date: Jun 13, 2021
• ISBN: 9781638155225

IRB Media

With IRB books, you can get the key takeaways and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.

Book preview

Insights from Chapters 1-2

#1

Bitcoin is the newest technology to serve the purpose of money. It is an innovation that takes advantage of the digital age’s technical possibilities to solve a dilemma that has long plagued humanity: how to transfer economic capital through time and space.

#2

To comprehend Bitcoin, one must first understand money, and there is no better way to comprehend money than to research its purpose and history.

#3

Money is a social convention. It’s a contract. If I give you something valuable, and you give me something valuable, and we both agree that the thing I gave you is worth the thing you gave me, then we’ve established the value of what I gave you.

#4

Many objects have acted as money throughout history, like gold and silver, but also copper, seashells, large stones, salt, livestock, government paper, precious stones, and, in some cases, alcohol and