{"id":34,"date":"2023-05-22T22:20:37","date_gmt":"2023-05-22T13:20:37","guid":{"rendered":"https:\/\/www.sumitbilashjoshi.com\/?p=34"},"modified":"2023-08-19T12:11:18","modified_gmt":"2023-08-19T03:11:18","slug":"the-bitcoin-standard","status":"publish","type":"post","link":"https:\/\/www.sumitbilashjoshi.com\/?p=34","title":{"rendered":"The Bitcoin Standard"},"content":{"rendered":"\n

This book is written by Saifedean Ammous. I highly recommend this book to those who are interested in finance and technology. This does not contain all the technical details of Bitcoin but you can grasp its current state and the economic impact it will have on our lives. This book explores the history of money, the flaws of the current financial system, and suggests the potential of Bitcoin as a decentralized alternative to central banking. Bitcoin has the potential and is very much likely to become the new global standard of money, which is free from government control and its inflationary policies.<\/p>\n\n\n\n\n\n\n\n

Author discusses the history of money and the various forms it has taken over time from barter and Rai stones to gold and dollar. He discusses the properties of good money and highlights how traditional fiat currencies fall short in terms of scarcity, durability, divisibility, and portability. Gold has been used as the currency for thousands of years because of these properties but gold still lacks its competence in portability, transparency and storage. It can transfer value through time but its very expensive and hard to transfer its value through space. Nobody can verify on its current amount and newly mined amount. And its hard to store securely because of its tangibility. On the other hand, Bitcoin possess these properties and has the potential to serve as sound money in the digital age because it can easily transfer value through both space and time. Its supply is fixed at 21 million and can be stored digitally.<\/p>\n\n\n\n

There are chapters where the author delves into the flaws of the current financial system, including the centralization of power, government manipulation of money, and the negative effects of inflation. There are enormous economic consequences of unsound money where Bitcoin offers a way to restore trust and stability in the monetary system.<\/p>\n\n\n\n

There are common criticisms and misconceptions surrounding Bitcoin, such as its volatility, energy consumption, and use for illicit activities. Simply concluding these criticisms without studying about it, does not make it true. Author provides the history of other monetary standard and how they came into existence and how they either lost value or disappeared. You can learn the potential impact of Bitcoin on economics, politics, and individual sovereignty.<\/p>\n\n\n\n

If you want in-depth exploration of Bitcoin’s economic and political aspects, this book is accessible to both beginners and more experienced readers. It has a thought-provoking perspective on the role of money in society and presents a case for Bitcoin as a revolutionary force in the financial world. You can buy the book here<\/a>.<\/p>\n\n\n\n

I will be writing about Bitcoin on future blogs too. Below are the books I recommend if you want to learn more about Bitcoin, finance and economics. Many people give investment advice on Bitcoin. Its not just about money and investing, our civilization depends on it. Before getting any Bitcoin, these books will be the best investment of your life. I will try to post the summary of these books too in my coming blogs. Hope you enjoyed this and see you on next one.<\/p>\n\n\n\n

The Internet of Money (Andreas Antonopoulos)<\/strong><\/p>\n\n\n\n

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Mastering Bitcoin: Unlock Digital Cryptocurrencies (Andreas Antonopoulos)<\/strong><\/p>\n\n\n\n

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Bitcoin: Everything Divided by 21 Million (Knut Svanholm)<\/strong><\/p>\n\n\n\n

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Thank God for Bitcoin: The Creation, Corruption and Redemption of Money (Gabe Higgins, Derek Waltchack, Jimmy Song)<\/strong><\/p>\n\n\n\n

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The Book of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto (Phil Champagne)<\/strong><\/p>\n\n\n\n

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Layered Money: From Gold and Dollars to Bitcoin and Digital Currencies (Nik Bhatia)<\/strong><\/p>\n\n\n\n

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The Bullish Case for Bitcoin (Vijay Boyapati)<\/strong><\/p>\n\n\n\n

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Bitcoin: The Future of Money? (Dominic Frisby)<\/strong><\/p>\n\n\n\n

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Softwar: A Novel Theory on Power Projection and the National Strategic Significance of Bitcoin (Jason P. Lowery)<\/strong><\/p>\n\n\n\n

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Bitcoin: Hard Money You Can\u2019t F*ck With (Jason A. Williams)<\/strong><\/p>\n\n\n\n

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The Blocksize War: The Battle Over Who Controls Bitcoin\u2019s Protocol Rules (Jonathan Bier)<\/strong><\/p>\n\n\n\n

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21 Lessons: What I\u2019ve learned from Falling Down the Bitcoin Rabbit Hole (Gigi)<\/strong><\/p>\n\n\n\n

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The Price of tomorrow: Why Deflation is the Key to an Abundant Future (Jeff Booth)<\/strong><\/p>\n\n\n\n

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Cryptoeconomics: Fundamental Principles of Bitcoin (Eric Voskuil)<\/strong><\/p>\n\n\n\n

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Bitcoin: Sovereignty Through Mathematics (Knut Svanholm)<\/strong><\/p>\n\n\n\n

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You can buy me a coffee if you found the info helpful \ud83d\ude09<\/p>\n\n\n\n

BTC<\/mark> Address:<\/p>\n\n\n\n

bc1q0859dv58ppwcvraq48et98thamkqlm2j24dult<\/pre>\n\n\n\n
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This book is written by Saifedean Ammous. I highly recommend this book to those who are interested in finance and technology. This does not contain all the technical details of Bitcoin but you can grasp its current state and the economic impact it will have on our lives. This book explores the history of money, […]<\/p>\n","protected":false},"author":1,"featured_media":35,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[5],"tags":[8,10,9],"class_list":["post-34","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economics","tag-bitcoin","tag-economics","tag-finance"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.sumitbilashjoshi.com\/index.php?rest_route=\/wp\/v2\/posts\/34","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sumitbilashjoshi.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sumitbilashjoshi.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sumitbilashjoshi.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sumitbilashjoshi.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34"}],"version-history":[{"count":9,"href":"https:\/\/www.sumitbilashjoshi.com\/index.php?rest_route=\/wp\/v2\/posts\/34\/revisions"}],"predecessor-version":[{"id":213,"href":"https:\/\/www.sumitbilashjoshi.com\/index.php?rest_route=\/wp\/v2\/posts\/34\/revisions\/213"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sumitbilashjoshi.com\/index.php?rest_route=\/wp\/v2\/media\/35"}],"wp:attachment":[{"href":"https:\/\/www.sumitbilashjoshi.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sumitbilashjoshi.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sumitbilashjoshi.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}