Saifedean clears it up and presents a case of how money use has evolved, from examples of Rai stones, shells, salt to metals like gold and silver and ultimately to gold. Although the major bugbear is that he could have dedicated more of the book to actually looking at Bitcoin. The story goes that the post-crisis financial system is so dysfunctional that it is unable to operate without continual injections of money from central banks.
The seriousness of their marketing campaign can be judged from the fact that their main arguments are that one, gold represents the past (after all, Nixon dropped gold already in the ’70s!) Bitcoin is not necessarily an alternative to gold, he argues, but it can function as a global reserve currency and disrupt the role of central banks. The growth of banking systems pyramided on top a central bank cannot be explained by the need to store gold in clearinghouses, as a decentralized system could function just as well, if not better. Image courtesy of amazon.com In this brief article, we shall review “The Bitcoin Standard: The Decentralized Alternative to Central Banking” by Saifedean Ammous.
The bitcoin network will never, in Ammous’s estimation, be able to compete with the likes of Visa and Mastercard when it comes to processing payments (pp. The Bitcoin Standard: The Decentralized Alternative to Central Banking (English Edition), The Bitcoin Standard: The Decentralized Alternative to Central Banking...の商品詳細を表示. It is not ok to invent facts and distort history. See http://data.imf.org/?sk=d87ea63d-f2db-4dc3-a2b5-295ef18a671f . The jobs picture, coronavirus response protocols and mental health. I'd rather read dictionary from Z to A than try this book again. I think this is a pretty good assessment of the situation, yes. But it is saving which creates capital and prosperity. It’s an interesting idea, but I would have liked to have seen a fleshed-out exploration of this possible future. The author does a good job of describing how a *-standard works and compares and contrasts the differences between a silver-standard and a gold-standard paving the way for an understanding of the bitcoin-standard.
Happily, Professor Ammous of the Lebanese American University has written a book that falls squarely in the latter category.
Review: The Bitcoin Standard begeleid je als lezer rustig van punt A naar punt B. Punt A is het hoe en waarom van geld, punt B is bitcoin. Holy shit! He spent chapters berating modern society and blaming everything from broken families to bad pop music on leaving the gold standard (seriously - where was the editor here). I thought this was a clear, well-written explanation of the history of money, the rise of Bitcoin and it's potential benefits plus the uses Blockchain technology can be put to. 1st half was glorious and opened my eyes as to how to look at currency and the whole system of money. Let us know what’s wrong with this preview of, Published You might be interested in Governments and privileged banks have again and again proven themselves untrustworthy, as they have engaged in destructive and antisocial policies again and again, while bamboozling the general public. On top of that the attack’s rambled on with 0 citation. Refresh and try again. In short, owning bitcoin is a hedge against what Robert Higgs called regime uncertainty (Higgs 1997).
Instructions to debit and credit accounts are given in person, over analog or digital forms of communication. No matter the manner of recording (digital or paper, which is analog) or transmission (digital or analog), the nature of credit money never changes. There is no mention of Gresham’s law or of the problems of bimetallism.
The venom spills from the page, which really distracts from the argument he was attempting to make. Saifedean Ammous’ book, The Bitcoin Standard, has been reviewed by just about everyone in the crypto-community by now.Rightfully so, because the book has done much to raise awareness and open eyes on the subject of currency in general, and Bitcoin in particular. Link is here: https://www.forbes.com/sites/francescoppola/2018/10/31/argentina-and-the-lure-of-dollars/#4a85dc26cc65.
I am now surprised that I have never before come across a condensed book of economics that resonates so much with observations I have made about the financial and economic world of today. If you want to learn about bitcoin, and more importantly about money in general, this is a great and quick read by a clearly intelligent author. About 60% of the book doesn’t even talk about Bitcoin (BTC). There were numerous attacks on institutions and process that just seemed petty. Ammous calls his book "the first academic book on Bitcoin" - this is nothing but a tragic state of affairs. 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. The role of bitcoin, argues Ammous, will rather be to settle transactions between large institutions such as central banks. [Note: this is a pretty “rough” review. This is pure speculation on my part, but if it's working that way, then it would make bonds (and US assets) the new gold (or whatever you want to call it) for countries to do business with each other.And it's a two-fer, by creating demand for US assets, it also keeps the US dollar stronger compared to our trading partners which supports the outsourcing of by US corporations to the global supply chain.I guess in theory they could use a cryptocurrency instead, which would have the advantage that it would allow countries to not have to deal with assets in sprinkled around the world: they could just converge on cryptocurrency as a way to settle affairs.
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