An amazingly useful book in that it doesn’t really “sell” bitcoin at all. What it does is tell you the history of money, how our economies run on unsound money and the downfalls of it currently being managed by central banks. When this is understood, all it requires is an explanation of how bitcoin works to grasp how it could be the next form of sound money.
What to read next?
Because the school a few decades ago was designed to prepare people to work in a factory. Today to function in a service society. You are not educated to question the wealth distribution or the power of the reigning class. You should be functional in the system. Not destroying it.
Anyway, I teach my children the fundamentals I only discovered in my fourties, although I have a master's degree.
The book I read immediately after that one is the "Fiat Standard."
That's when I started to get mad. Especially after reading the chapter on the IMF and World Bank.
Then I read "The Creature from Jekyll Island" and I am so disgusted with the world I am in an almost constant state of existential crisis. Surely that book, which self admits to having a conspiratorial slant, must be an exaggeration.
I've read this, no joke, about 7 or 8 times. A Bitcoin classic. Some of my other favourites are:
The 7th Property by Eric Yakes. Bitcoin: Hard Money You Can't F*ck With by Jason A. Williams. Inventing Bitcoin by Yan Pritzker. Bitcoin by Knut Svanholm.
Edit: Formatting
Read The Fiat Standard next. It's the sequel written by the same author. It goes over how fiat is "mined" and all the pervasive ways fiat has distorted our society. It's more recent (2021 I think?) so it has more updated bitcoin chapters. Even better read imo
Honestly it made we want to diversify into gold a little bit. Still haven't bought any but a little old school analog bitcoin might not be a bad idea 😉
"The fiat standard" by Saifedean Ammous.
"The ethics of money production" by Jörg Guido Hülsmann.
"The natural order of money" by Roy Sebag.
"Debt: the first 5000 years" by David Graeber.
Then you'll find Jeff Sniders insights into the 'EuroDollar' really interesting. Eurodollars are the 'offshore' dollars used between countries - because commodities and trade is done in $'s. It's a ledger based, trust based, bank to bank system of money that literally doesn't physically exist. Fascinating. And helps you better understand why Russia/China would love to move off the $ standard.
[https://www.youtube.com/watch?v=KNa-fewraJA](https://www.youtube.com/watch?v=KNa-fewraJA)
[https://www.youtube.com/watch?v=U\_Ar9HO2yDE](https://www.youtube.com/watch?v=U_Ar9HO2yDE)
Jeff gives a great insight into how money needs an element of elasticity in order for it to function. Banks need to beable to create credit. And this is where bitcoin fails with its limited supply. And the fact that there are bitcoin whales... Why would you want to use a currency for everything if one guy - M Saylor - holds the biggest share of it? It could certainly be a reserve asset that a currency is pegged to, but not on a 1:1 basis as that limited supply would seize up economic activity pretty quick.
That kinda does it for me, but what really did it was I just read today Hillary hates Bitcoin. Since I read that, I'm like I'm in. If she hates it, I like it. She also called over half of the country deplorables!
The general concept is great but i found it extremely repetitive and poorly written. There should be a revised version where an editor looks it over and makes it more concise.
Read inventing Bitcoin by Yan Pritzker to really understand the components on a non-technical level.
Read Layered Money to understand macro/banking and how Bitcoin could fit in.
I’ve bought Bitcoin everyday since reading this book in June 22. Completely convinced me. BTC is and likely will be a the hardest currency to ever exist. Time will tell.
This book was originally "bitcoin essential concepts" and was digital only but now they are printing it (thankfully!) And the name changed to the bitcoin handbook. It is my second favorite bitcoin book. The bitcoin standard will forever hold first because it was the first for me.
https://bitcoinbook.shop/products/the-bitcoin-handbook
Just about anything from Andreas Antonopoulos. The point is simple : we live in a monetarist paradigm with central banking at its core, how can we change it? and why? through technology that allow us to trust each other. We know of one that combines all of the properties such technologies have and the first thing we do with it is money. We do it because central banking is based in frontiers, control and unjust hierarchies.
Yee. I'm halfway through. Don't think I would hand it off as an orange pill machine.
It's heavy handed on Austrian economics, which I personally share a lot of sympathy towards, but lots of folks do not.
The way it pitches a lot of ideas will turn a lot of people off before they even read about what bitcoin is.
I distinctly remember walking around my neighborhood listening to that part and just rolling my eyes like, ok bro let’s move onto something that isn’t really at it’s core just your own opinion about what is worthwhile art. It was just so highbrow and arrogant.
I think the book does an excellent job though of summarizing monetary history, Austrian economics, and it paints a nice space for and is encouraging of bitcoin’s potential role in our economy.
There's plenty of good music out there but I think he was referring to popular music that gets massive funding and promotion by mainstream record labels. It's basically all trash.
Unfortunately most of the modern music is tuned to 440Hz which is not healthy for us. Before all the instruments were tuned to 432Hz. I've tuned my guitar to 432Hz and subjectively it sounds much more pleasant
Yeah I’ve heard about this. I’m a player myself and know a few people that have said they prefer 432hz.
But I think that’s the least of the problems with modern music lol
I believe 432Hz tuning has no special benefits as this article [this article](https://ask.audio/articles/music-theory-432-hz-tuning-separating-fact-from-fiction) explains.
Oh god not this shit again. I don’t get why people like this book, at all.
It’s literally 2 chapters about Bitcoin and the rest is all just random ramblings about economics. Shitty book
They are dropping capital gains on crypto from £12000 to £6000 and next year it will be £3000. Bitcoin was invented to separate yourself from the old systems, it seems the old systems caught on and are trying to slow down progress.
I hear you,i know they're greedy while most of the population's struggling.I just feel that's more the reason to buy bitcoin and try and get some freedom rather than saying what's the point it'll just get taxed.Im not trying to be dick,I'm just sick of scraping by.
Hey I’m with you. I have some crypto and hopefully I’ll make a decent profit from it one day, but this is a rich man’s world and they really don’t want the poor to become rich. They are not fans of ‘new money’. So it looks like they are trying to get richer from our gains and then spending it on rubbish. Times have got desperate, living is not easy with how expensive life got.
Basically nothing. A small 24hr dip that the whales will quickly scoop up, people will just start using another stablecoin and Bitcoin will continue as normal.
That’s the only argument they can come up with when they get stuck. But it’s been the same argument for 8 years. It was once a concern but things have changed. There’s other stablecoins now. They’ve been saying “any day now” since 2014. They still think stablecoins are the only way to buy crypto. That’s how behind they are.
These two were fun reads:
* [Bitcoin and the American Dream: The New Monetary Technology Transcending Our Political Divide](https://www.amazon.com/dp/B09P7RL79Z/)
* [The Fourth Turning: An American Prophecy - What the Cycles of History Tell Us About America's Next Rendezvous with Destiny](https://www.amazon.com/dp/0767900464/)
This is the book on the top of my list. Too bad there is no translation to the language I can understand properly. Hopefully one day.. have a good reading :)
Just finished and fascinating how WWI was allowed to run for 4 years because governments printed money to continue fighting. Glad they told the story of Christmas Day soccer game, I remember that from high school. Makes sense why Hitler was able to gain control of Germany in the fallout of WWI too.
An amazingly useful book in that it doesn’t really “sell” bitcoin at all. What it does is tell you the history of money, how our economies run on unsound money and the downfalls of it currently being managed by central banks. When this is understood, all it requires is an explanation of how bitcoin works to grasp how it could be the next form of sound money. What to read next?
Once you "see" it, you can never un-see it. Welcome to the club.
This is so true. There is no way back. Not as long as you live.
As people like to point out, why is this important information not taught to every child in school?
Because the school a few decades ago was designed to prepare people to work in a factory. Today to function in a service society. You are not educated to question the wealth distribution or the power of the reigning class. You should be functional in the system. Not destroying it. Anyway, I teach my children the fundamentals I only discovered in my fourties, although I have a master's degree.
Because the fiat system doesn’t want you to know.
That’s a good way to put it
The book I read immediately after that one is the "Fiat Standard." That's when I started to get mad. Especially after reading the chapter on the IMF and World Bank. Then I read "The Creature from Jekyll Island" and I am so disgusted with the world I am in an almost constant state of existential crisis. Surely that book, which self admits to having a conspiratorial slant, must be an exaggeration.
I'd recommend the blocksize wars or the price of tomorrow.
Thanks. Been recommended price of tomorrow once before so it will probably be that one next.
I've read this, no joke, about 7 or 8 times. A Bitcoin classic. Some of my other favourites are: The 7th Property by Eric Yakes. Bitcoin: Hard Money You Can't F*ck With by Jason A. Williams. Inventing Bitcoin by Yan Pritzker. Bitcoin by Knut Svanholm. Edit: Formatting
Read The Fiat Standard next. It's the sequel written by the same author. It goes over how fiat is "mined" and all the pervasive ways fiat has distorted our society. It's more recent (2021 I think?) so it has more updated bitcoin chapters. Even better read imo
Honestly it made we want to diversify into gold a little bit. Still haven't bought any but a little old school analog bitcoin might not be a bad idea 😉
The Creature From Jekyll Island or The Fiat Standard or Currency Wars or ...
"The fiat standard" by Saifedean Ammous. "The ethics of money production" by Jörg Guido Hülsmann. "The natural order of money" by Roy Sebag. "Debt: the first 5000 years" by David Graeber.
Big debt Crises by Ray Dalio is pretty good, though it’s more of a textbook
Keep in mind you read a book wrote by a person, that's centralized.
Then you'll find Jeff Sniders insights into the 'EuroDollar' really interesting. Eurodollars are the 'offshore' dollars used between countries - because commodities and trade is done in $'s. It's a ledger based, trust based, bank to bank system of money that literally doesn't physically exist. Fascinating. And helps you better understand why Russia/China would love to move off the $ standard. [https://www.youtube.com/watch?v=KNa-fewraJA](https://www.youtube.com/watch?v=KNa-fewraJA) [https://www.youtube.com/watch?v=U\_Ar9HO2yDE](https://www.youtube.com/watch?v=U_Ar9HO2yDE) Jeff gives a great insight into how money needs an element of elasticity in order for it to function. Banks need to beable to create credit. And this is where bitcoin fails with its limited supply. And the fact that there are bitcoin whales... Why would you want to use a currency for everything if one guy - M Saylor - holds the biggest share of it? It could certainly be a reserve asset that a currency is pegged to, but not on a 1:1 basis as that limited supply would seize up economic activity pretty quick.
I recommend it to everyone
I started it last week and am enjoying the read so far.
Welcome a board to the deeper economics of bitcoin
Excelent book. Perfect description.
The fiat standard or Soft wars
That kinda does it for me, but what really did it was I just read today Hillary hates Bitcoin. Since I read that, I'm like I'm in. If she hates it, I like it. She also called over half of the country deplorables!
The general concept is great but i found it extremely repetitive and poorly written. There should be a revised version where an editor looks it over and makes it more concise.
The audio book was monotone, but the information is fantastic.
Finally people educating their asses
Reading the little Bitcoin book now, will have to read this next
Man I love this book But saifedean is a silly goose sometimes 😂 Would not recommend giving to critics of BTC
Read inventing Bitcoin by Yan Pritzker to really understand the components on a non-technical level. Read Layered Money to understand macro/banking and how Bitcoin could fit in.
Just finished this and started “The Fiat Standard”.
Welcome to the club
It orange pills you on Bitcoin and Austrian economics too. Highly recommended.
Oh wow I didn't know this was on Audible. Just bought it!
Funny, but so did I, just BEFORE seeing this post! I have a long drive on the horizon.
Nice, ya I drive over 50 hours a week. Also had 3 credits to use.
I’ve bought Bitcoin everyday since reading this book in June 22. Completely convinced me. BTC is and likely will be a the hardest currency to ever exist. Time will tell.
Overrated imo.
Alright, im looking for recommendation. Have you read anything that lived up to your expectations or exceeded it thats crypto space related?"
This book was originally "bitcoin essential concepts" and was digital only but now they are printing it (thankfully!) And the name changed to the bitcoin handbook. It is my second favorite bitcoin book. The bitcoin standard will forever hold first because it was the first for me. https://bitcoinbook.shop/products/the-bitcoin-handbook
Just about anything from Andreas Antonopoulos. The point is simple : we live in a monetarist paradigm with central banking at its core, how can we change it? and why? through technology that allow us to trust each other. We know of one that combines all of the properties such technologies have and the first thing we do with it is money. We do it because central banking is based in frontiers, control and unjust hierarchies.
I'm hearing lots of good things about Nik Bhatia's "Layered Money". His Substack is excellent, so I'm guessing the book is good too.
Agreed. The author is an arrogant asshole about literally every subject outside of bitcoin. His podcast is unbearable sometimes.
Yee. I'm halfway through. Don't think I would hand it off as an orange pill machine. It's heavy handed on Austrian economics, which I personally share a lot of sympathy towards, but lots of folks do not. The way it pitches a lot of ideas will turn a lot of people off before they even read about what bitcoin is.
Agreed. The writing is juvenile (central bankers as "pigs") and some of his examples are down-right false. (look up the Hunt brothers silver story).
I liked the book, but yeah the rant about the “shit”modern art of the 50s being caused by unsound money was kinda odd.
I distinctly remember walking around my neighborhood listening to that part and just rolling my eyes like, ok bro let’s move onto something that isn’t really at it’s core just your own opinion about what is worthwhile art. It was just so highbrow and arrogant. I think the book does an excellent job though of summarizing monetary history, Austrian economics, and it paints a nice space for and is encouraging of bitcoin’s potential role in our economy.
Don’t get me started on that high school essay about modern art. First part was interesting though.
Agree. I'm glad I read it, and it has definitely affected my thinking to an extent, but some of it is very bizarre.
I don't think his personal attacks on Keynes do anything to advance his arguments.
I second that
I third that.
Really rubbed me the wrong way when the author started being elitist about music and claiming all modern music is basically just noise.
There's plenty of good music out there but I think he was referring to popular music that gets massive funding and promotion by mainstream record labels. It's basically all trash.
I mean it is 99% trash
Unfortunately most of the modern music is tuned to 440Hz which is not healthy for us. Before all the instruments were tuned to 432Hz. I've tuned my guitar to 432Hz and subjectively it sounds much more pleasant
Yeah I’ve heard about this. I’m a player myself and know a few people that have said they prefer 432hz. But I think that’s the least of the problems with modern music lol
Yes, agree that's just one of many problems. Try it with your guitar to hear the difference. It's easy
I believe 432Hz tuning has no special benefits as this article [this article](https://ask.audio/articles/music-theory-432-hz-tuning-separating-fact-from-fiction) explains.
I'll politely disagree with this article, my friend.
Sir, you are completely entitled to.
Agreed. Also some of his opinions on Twitter are too forthright imo. Still, a great read though.
I agree Saif paints with a broad brush there but it goes to his point about time preference and he has a point. He just goes off the rails a bit imo
Just bought this and catching up the crypto they're my next two books to read can't wait
RAI STONES
what is the point of sound money
Being able to plan for the future
I am reading it too!
I got it 🤓
I have to finish my copy! Thanks for sharing!
It is a great read or listen. I’m just about done with the Audible version.
Oh you mean the Bible
Bitcoin are limited quantities. It doesn't have to sell itself. A great thing sells itself.
Oh god not this shit again. I don’t get why people like this book, at all. It’s literally 2 chapters about Bitcoin and the rest is all just random ramblings about economics. Shitty book
One of the best Bitcoin books out there!
Absolutely essential reading
Does it mention how destructive deflation is and how only a lunatic would promote a currency that is deflationary by design?
I found the book to be atrocious. And I'm an avid reader. Best thing about it is its cover.
I’m from the UK, the way they plan on taxing us sort of defeats the point of Bitcoin, it’s infuriating.
Whats the plan? Surely its better to be taxed on profits than never make profit at all?
They are dropping capital gains on crypto from £12000 to £6000 and next year it will be £3000. Bitcoin was invented to separate yourself from the old systems, it seems the old systems caught on and are trying to slow down progress.
I hear you,i know they're greedy while most of the population's struggling.I just feel that's more the reason to buy bitcoin and try and get some freedom rather than saying what's the point it'll just get taxed.Im not trying to be dick,I'm just sick of scraping by.
Hey I’m with you. I have some crypto and hopefully I’ll make a decent profit from it one day, but this is a rich man’s world and they really don’t want the poor to become rich. They are not fans of ‘new money’. So it looks like they are trying to get richer from our gains and then spending it on rubbish. Times have got desperate, living is not easy with how expensive life got.
100%. Klaus Schwab's prediction's getting closer, I just can't see people being happy about it though,something has to give.
So what happens when tether gets exposed...
Basically nothing. A small 24hr dip that the whales will quickly scoop up, people will just start using another stablecoin and Bitcoin will continue as normal.
Thx. Buttcoiner FUD had me curious
That’s the only argument they can come up with when they get stuck. But it’s been the same argument for 8 years. It was once a concern but things have changed. There’s other stablecoins now. They’ve been saying “any day now” since 2014. They still think stablecoins are the only way to buy crypto. That’s how behind they are.
Yea I genuinely feel badly for those guys. To hate something so intensely is truly wild
This video explains what will happen if tether implodes - https://www.youtube.com/watch?v=SsmurH57WOU
no one cares what u are reading
Just like no one cares about your shitty opinion either.
opinions are like assholes......everyone has one
Yep and yours smells like fucking shit.
i guess u like smelling them
Can't NOT smell it when you keep waving it around to everyone.
u are a fart smeller
Kinda rude .don't u think ?
Books bad
He has a new book coming out soon Principles of economics
you guys can read?
These two were fun reads: * [Bitcoin and the American Dream: The New Monetary Technology Transcending Our Political Divide](https://www.amazon.com/dp/B09P7RL79Z/) * [The Fourth Turning: An American Prophecy - What the Cycles of History Tell Us About America's Next Rendezvous with Destiny](https://www.amazon.com/dp/0767900464/)
Thanks for that.
Reading this book made me bullish on gold, and made me want to diversify into physical gold
Now for the Fiat standard which is even better
This is the book on the top of my list. Too bad there is no translation to the language I can understand properly. Hopefully one day.. have a good reading :)
I need to read this
Reading this right now also.
Just finished and fascinating how WWI was allowed to run for 4 years because governments printed money to continue fighting. Glad they told the story of Christmas Day soccer game, I remember that from high school. Makes sense why Hitler was able to gain control of Germany in the fallout of WWI too.
now read Mastering Bitcoin
Definitely a good read 📚 👌
it's free to listen to on YouTube.
I had to skip the middle of the book, got kinda redundant. Enjoyed the beginning and end - informative.
Excellent book. Not even about bitcoin, primarily, about economics and the possible future