Published in · 3 min read · Aug 1, 2023
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In his book, Saifedean Ammous argues that bitcoin is the most important invention since the invention of the internet. He believes that bitcoin will eventually replace fiat currencies as the global reserve currency.
Ammous begins by defining what he means by “hard money.” Hard money is money that is difficult to counterfeit and that cannot be easily debased. He argues that bitcoin is hard money because it is based on cryptography, which makes it difficult to counterfeit. Additionally, the supply of bitcoin is limited to 21 million, which prevents it from being debased.
Thinking of reading “Bitcoin”? Use this link to grab a copy!
Ammous then goes on to discuss the history of fiat currencies. He argues that fiat currencies are inherently unstable because they are not backed by anything of intrinsic value. This has led to hyperinflation in many countries, such as Zimbabwe and Venezuela.
Ammous then argues that bitcoin is a superior alternative to fiat currencies. He points out that bitcoin is not subject to government control, which makes it more stable. Additionally, bitcoin is a global currency, which makes it more convenient for international trade.
Ammous goes on to discuss the benefits of bitcoin in more detail. He argues that bitcoin is more secure than fiat currencies because it is based on cryptography. Additionally, bitcoin is more transparent than fiat currencies because all bitcoin transactions are recorded on a public ledger.
Ammous also argues that bitcoin is more efficient than fiat currencies because it does not require a central authority to process transactions. This makes bitcoin cheaper and faster to use than fiat currencies.
Ammous concludes by arguing that bitcoin is the future of money. He believes that bitcoin will eventually replace fiat currencies as the global reserve currency. He also believes that bitcoin will have a profound impact on the global economy.
Thinking of reading “Bitcoin”? Use this link to grab a copy!
Ammous’s book has been praised by some for its clear and concise explanation of bitcoin. However, it has also been criticized by others for its lack of academic rigor. Some critics have argued that Ammous’s claims about the benefits of bitcoin are exaggerated.
Overall, Ammous’s book provides a thought-provoking overview of bitcoin. While some of his claims may be exaggerated, he does make a strong case that bitcoin is a superior alternative to fiat currencies. Only time will tell whether bitcoin will eventually replace fiat currencies as the global reserve currency.
Thinking of reading “Bitcoin”? Use this link to grab a copy!
In addition to the book, Ammous has also written a number of articles and blog posts about bitcoin. He is also the founder of the Bitcoin Center, a non-profit organization that promotes the use of bitcoin.
If you are interested in learning more about bitcoin, I recommend reading Ammous’s book. It is a well-written and informative introduction to the subject.
Thinking of reading “Bitcoin”? Use this link to grab a copy!
