Why Should Every Bitcoin Enthusiast Read The Bitcoin Standard?
As Bitcoin and other cryptocurrencies continue to rise in popularity, many books will likely be written about them. The best one to date is The Bitcoin Standard: The Decentralized Alternative to Central Banking by Saifedean Ammous, considered a bible by some Bitcoin enthusiasts.
If you haven’t picked up a copy of the 2018 book yet, you should strongly consider doing so. It provides a detailed history of how the money got to where it is now and discusses how the future will most likely involve cryptocurrencies replacing traditional forms of currency.
Reading Books About Bitcoin Can Vastly Improve Knowledge
More people than ever are turning to books to improve their knowledge about various topics. Indeed, as PIA’s blog piece points out, social media has made reading ‘cool’ again. Social media influencers are now promoting the pastime, and eBook sales have increased drastically in recent years. In 2020 alone, they surpassed $1 billion.
Of course, there’s a lot of information about Bitcoin available in articles online and on YouTube. However, taking a deep dive into a book written by an expert on the subject will doubtlessly give anyone’s knowledge on the topic a significant boost.
There are plenty of books about cryptocurrencies, but The Bitcoin Standard is widely considered to be the best one. It has shipped more than 100,000 copies and has an overall rating of 4.15 on Goodreads. Numerous prominent figures in the crypto sphere, including Nassim Nicholas Taleb, Peter Schiff, and Michael Saylor, have endorsed it.
You may already believe that Bitcoin is the future, but reading the book will give you more evidence to support your argument. It explores the history of money and discusses how a decentralized option like Bitcoin has the potential to become the new standard.
What are the Key Arguments in Ammous’s Book?
Ammous focuses on educating readers about how money came to be. He traces its lineage back to the days before paper and coins, discussing how some cultures used items such as seashells in transactions.
There’s much discussion about the flaws of the existing methods of payment and the ones that came before. Ammous argues that society has always pushed to evolve and improve its payment options and that many people could soon realize that physical money is inferior to digital methods.
Ammous believes that Bitcoin is the best form of money that anyone has devised to date. He cites various reasons for this, including its decentralized and scarce nature. He also notes that the blockchain’s security measures are far superior to those of other options.
One of the most crucial arguments in the Bitcoin Standard concerns the shortcomings of the central banking system that has dominated for years. Inflation and manipulation are key problems. Banks can print money, and inflation leads to decreased purchasing power for consumers.
However, Bitcoin doesn’t have this problem, as it has a fixed supply of 21 million coins. This makes it a scarce asset that cannot be manipulated by central banks, which is why publications like Make Use Of often refer to digital currency as digital gold.
Some Interesting Thoughts About the Future
Aside from explaining why Bitcoin is superior to existing payment methods, Ammous writes about his exciting thoughts for the future. Thanks to its scarcity, he believes it can become a global reserve asset.
Ammous argues that if this comes to fruition, it could lead to a stable global economy and decreased government intervention in financial markets. Thanks to blockchain technology, Bitcoin also has the power to revolutionize industries. This is already being seen in real estate and supply chain management.
If you want to deepen your knowledge of Bitcoin, The Bitcoin Standard is the best book. It is the most comprehensive guide ever written about digital currency and may teach you some things you haven’t known about before.
