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Reddit mentions of The Bitcoin Standard: The Decentralized Alternative to Central Banking

Sentiment score: 15
Reddit mentions: 41

We found 41 Reddit mentions of The Bitcoin Standard: The Decentralized Alternative to Central Banking. Here are the top ones.

The Bitcoin Standard: The Decentralized Alternative to Central Banking
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Found 41 comments on The Bitcoin Standard: The Decentralized Alternative to Central Banking:

u/TheGreatMuffin · 20 pointsr/Bitcoin

If I may - I humbly recommend to read a proper book on bitcoin, not some fluff piece.. Just assuming from the way that you chose your post title that you might be interested in a more substantial bitcoin reading :) Please ignore if that's not the case, don't wanna ruin your reading pleasure or anything.

Economic perspective: The Bitcoin Standard - The Decentralized Alternative to Central Banking

Not technical at all, very beginner friendly, but also not a lot of practical information: The Internet Of Money

Gently technical, beginner friendly: Inventing Bitcoin: The Technology Behind the First Truly Scarce and Decentralized Money Explained

Technical deep dives:

u/bitusher · 15 pointsr/Bitcoin

Read this book - https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861

As most bitcoin books are either technical in nature or written by journalists who don't understand it well. This book answers the "why" of bitcoin, the economics and monetary policy that makes it so special.

Overview - https://medium.com/@jimmysong/why-bitcoin-works-fe32879a73f5

u/slepyhed · 10 pointsr/Bitcoin

Here's a great explanation for how blockchain works: https://youtu.be/bBC-nXj3Ng4

For a more in depth understanding of Bitcoin, Mastering Bitcoin is great: https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388/ref=sr_1_1_sspa?ie=UTF8&qid=1537090991&sr=8-1-spons&keywords=mastering+bitcoin&psc=1

​

To get an idea of why Bitcoin has value, The Bitcoin Standard is great: https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861/ref=sr_1_1?ie=UTF8&qid=1537090929&sr=8-1&keywords=the+bitcoin+standard

​

There are lots of videos by the authors of these books that are great also.

u/eeeggg333 · 9 pointsr/CryptoCurrency

The whole history of this plus many other currencies all the way up to bitcoin are laid out in this amazing book https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861

A must read for every crypto enthusiast

u/beowulfpt · 7 pointsr/investing

Getting a % of the market currently in Gold or other long term store-of-value choices. Proven itself for over a decade of political, economical and technical attacks.


I think we're far from having it as a Standard, but expect BTC to be part of many portfolios in the next 5-10 years.
IMO a lot of people are excessively optimistic about how long it will take, but others are being unwise by totally dismissing it just because there's a lot of nonsense/scams in that [young] market.

u/Klutzkerfuffle · 6 pointsr/btc

You need to study Austrian Economics.

I recommend this book if you really want to understand what is going on.

https://www.amazon.com/gp/aw/d/1119473861/ref=cm_cr_arp_mb_bdcrb_top?ie=UTF8

u/gonzobon · 6 pointsr/Bitcoin

>So Bitcoin’s main goal is to let people use their money when/how/where they want and replace or bypass the banking system of the world?

Bitcoin has no main goal. It's just a ledger. It trustlessly moves tokens on a digital ledger between parties that don't trust each other.

>Is there an endless amount of Bitcoin available to the world ie printing paper and susceptible to inflation/deflation?

Bitcoin is deflationary. There will only ever be 21 million coins. A certain number are mined every 10 minutes. Every ~4 years the distribution amount halves (we call this the halvening).

>“Okay I’m ready to buy some bitcoin but this site is charging a fee for my purchase”. Where is a good place to buy bitcoin from the U.S. without having to pay a fee?

Limit orders on a professional exchange like Coinbase Pro or Gemini often have low/no fees. This is the best way to go about it.

>What is the state of Bitcoin ie is it close to being recognized as a form of currency on the world stage and from governments? If not, what would it take for Bitcoin to surpass say an entire continents financial system and maintain a regular usage instead of paper notes?

World governments are very differing in their positions on Bitcoin. Iran for example isn't a big fan. Venezuela's government isn't either, but their citizens are. The G5 countries are tolerating (and taxing) crypto earnings. The SEC is regulating some of the projects in the space. Merchants do accept it for payment, but the tax structure makes it harder to spend as a day-to-day currency currently. Calculating capital gains on every purchase of coffee is a PITA.

>Can Bitcoin handle Billions of people using the system for daily use? Is this where other crypto currency’s come into play to fill the void of an overloaded system?

Right now? No. But Bitcoin is scaling up slowly. Other crypto currencies are mostly pump/dump scams that serve no real purpose. They would have issues scaling up to a large payment network without compromising decentralization. Check out the lightning network, segwit, schnorr signatures a bit technical, but you can find some great summaries.

>Does Bitcoin become the “gold standard” and nations start to utilize hoarding Bitcoin or will it turn into nations valuing their own currency against Bitcoin like the world values everything against the USD? (If that last part makes sense)

Here's a great book. https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861









u/grafgarage · 5 pointsr/investing

If you read this i guarantee you'd reconsider your position. https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861

You're completely missing the point on what a non-sovereign money brings to the global marketplace. Do you do business internationally? Send money across borders ever? International banking absolutely sucks. What about the several billion people that are unbanked because it's a permission based system that they don't have the privilege to be a part of? How about you're living in a country like Venezuela, Iran, Turkey, Greece, etc that are experiencing hyper-inflation and seeing their savings absolutely devastated by poor economic policies instituted by broken governments?

If you think bitcoin is all about speculation you haven't done your homework. It's about taking back control of your finances and being your own bank.

u/BinaryResult · 4 pointsr/Bitcoin

Read The Bitcoin Standard by Saifedean Ammous, it's a great introduction to bitcoin's deflationary "hard money" properties.

u/notthematrix · 4 pointsr/Bitcoin

learn the book the bitcoin standard

https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861

​

its simple on exchanges you have uncovered bitcoins and covered bitcoin.

if you take btc to you own wallet the coin can no longer be double lent it is out of the exchange suppley!
btc is limited , and CAN NOT be created out of thin air like bank can with fiat money.

u/corpski · 3 pointsr/technology

Perhaps give Bitcoin a fair handshake before you call it stupid?

Here’s what I would call a very good resource on it:
https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861

u/diydude2 · 3 pointsr/Bitcoin

The Bitcoin Standard is a good place to start.

u/pecuniology · 3 pointsr/btc

>"[Russian Central Bank Governor, Elvira Nabiullina's] gold buying makes me think she has read Saifedean Ammous’s The Bitcoin Standard: The Decentralized Alternative to Central Banking.  Don’t let the title fool you. This book is not the cover-to-cover crypto cheerleading/gold bashing other authors attempt to jam down our throats.  Dr. Ammous Is actually a Professor of Economics, and none other than “Black Swan” author Nassim Taleb wrote the introduction."

u/dalebewan · 3 pointsr/Bitcoin

You should probably read this.

But if you just want the quick version, perhaps watch this.

Even quicker version in three points:

  1. It's hard money that can't be controlled by a centralised 'authority' such as a government. Sure, rich people can manipulate the exchange rate to fiat currencies by buying/selling, but no matter how rich they are, they have no control over the supply or ability to censor transactions.
  2. Bitcoin will never undergo hyperinflation because the inflation is predetermined and will reduce over time down to zero (around the year 2140 approximately, but it'll be "as good as zero" well before that).
  3. Bitcoin has the largest number of properties of sound money compared to any other kind of money we've ever used in the past. Gold has properties that are better than fiat. Fiat has properties that are better than gold (although not really as many). Bitcoin has properties that beat both of those significantly as well as several that neither of those have.
u/BTC_Forever · 3 pointsr/Bitcoin

For those who still didn't read this amazing book The Bitcoin Standard is a must read if you really want to get into Bitcoin Revolution.

u/llewsor · 3 pointsr/Bitcoin

u/TheGreatMuffin gave you golden advice. you need a solid philosophical foundation of what bitcoin is - otherwise you'll get rekted by the price and fud.


start with andreas antonopoulos - watch every single video no matter how old they are or how long they are because all of the info is relevant to today. the q&a after his talks are sometimes even more valuable than his lecture.


then for a deep dive visit jameson's site to get into detail about what andreas talked about. andreas also has a couple of books:

https://www.amazon.com/Internet-Money-Andreas-M-Antonopoulos/dp/194791006X/ref=sr_1_2?s=books&ie=UTF8&qid=1540574615&sr=1-2&keywords=internet+of+money&dpID=4137Zf9hIaL&preST=_SY344_BO1,204,203,200_QL70_&dpSrc=srch
https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388/ref=sr_1_1?s=books&ie=UTF8&qid=1540574648&sr=1-1&keywords=mastering+bitcoin&dpID=51nnYGq964L&preST=_SX218_BO1,204,203,200_QL40_&dpSrc=srch

​

also check out saifdean ammous' book: https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861


very easy read and a clear explanation to the economic significance of bitcoin. good luck.

u/don2468 · 2 pointsr/btc

> How does the LN affect your ability to use BTC as p2p permissionless cash? You can simply choose not to use it.


if LN or any second layer solution is the preferred scaling method it would take ~8 years for 1Billion users to open just one LN channel, no other commerce happening on chain just opening LN channels (lets hope none of them need to close their channel in a hurry) onchain fees will sky rocket (considerably less than 100 million people using Bitcoin in Dec 2017 led to $50 fees) that's how LN affects people who can't afford $50 fees to move a few hundred dollars around.


They wont' be able to choose to simply not use it when the fee is a significant percentage of the value they want to move.


or do you align with Samson Mow that Bitcoin is not for the poor.

the alternative is CUSTODIAL 2nd layer / or Bitcoin "Backed" Credit Cards that's what all you maxi's have been railing against but is in fact what the likes of the the author of BTC Maxi White Paper 2.0 Saifedean Ammous espouses we can have Bitcoin backed credit cards which by their very nature will be custodial

u/jaumenuez · 2 pointsr/Bitcoin

> price based pyramid scheme

Here you have another link, of course you "don't need to read" it now, but maybe when you become older and feel like you don't know everything and want to learn more about it. https://www.amazon.com/dp/1119473861

Have a nice day

u/NikhilRao1334 · 2 pointsr/CryptoCurrency

https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861

Read and understand.

Your statements are long debunked by several people.

u/vakeraj · 2 pointsr/Bitcoin

Saifedean is the author of The Bitcoin Standard. Probably the most important book for any Bitcoiner to read, alongside Mastering Bitcoin by Andreas Antonopoulos.

u/BobAlison · 2 pointsr/BitcoinBeginners

If technically-minded, there are two topics that if you mastered them would put you among the most educated Bitcoin users:

  1. electronic cash (e.g., https://bitzuma.com/posts/bitcoin-think-of-it-as-electronic-cash/)
  2. hash functions (e.g., https://bitzuma.com/posts/seven-things-bitcoin-users-should-know-about-hash-functions/)

    There are many scholarly resources regarding (2). No so much (1), but you can find good leads in the footnotes to the Bitcoin white paper.

    If socially-minded, how about the role that financial privacy or trust plays in modern society and what Bitcoin's role is likely to be? This essay is packed with resources: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=998565

    If financially-minded, you might think about whether restricive money supply policies help or hurt the poor (or some group you might care about). There's a lot of academic research on that. Bitcoin offers a laboratory to test these ideas, and a lot has been written about this as well.

    For example, a new book is:

    https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861

u/ProfessorPurrrrfect · 2 pointsr/options

I don’t know how I knew. Maybe you have a youthful and optimistic writing voice.

I’m 37, and I actually manage money for a living as an RIA (registered investment advisor). If you’re unsure about a career for yourself, I’d highly recommend it. Someone only 20 years old with your expertise would have no trouble getting into the business and be very successful.

Using Bitcoin or any hard currency as opposed to fiat adds immeasurable value to society. Read “The Bitcoin Standard” by Saifedean Ammous and your perspective will be expanded

https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861 and buy

And get a copy of the reference tome: Options as a Strategic Investment

https://www.amazon.com/Options-as-Strategic-Investment-Fifth/dp/0735204659

And your investment game will be better than most advisors by the time you’re 22. That’s the best advice I can give👊

u/Scarface_74 · 1 pointr/Bitcoin

Everyone interested on the subject should read:

The Bitcoin Standard: The Decentralized Alternative to Central Banking by Saifedean Ammous

https://www.amazon.com/gp/product/1119473861/ref=oh_aui_detailpage_o00_s00?ie=UTF8&psc=1

I have spent 3 fascinating days reading non-stop.

u/censorship_notifier · 1 pointr/noncensored_bitcoin

The following comment by BitcoinReasons was silently greylisted.

The original comment can be found(in censored form) at this link:

np.reddit.com/r/ Bitcoin/comments/dc0h3k/-/f25hxel?context=4

The original comment's content was as follows:

---

> Do some research on Bitcoin’s stock to flow. I would also suggest that you read the book “The Bitcoin Standard” by Saifedean Ammous.
>
> If you can understand the economic principles of that book, it will change the way that you think about Bitcoin and money.
>
> Good luck, friend.

u/ScienceRecruit · 1 pointr/Bitcoin

If you read The Bitcoin Standard by Saifedean Ammous it will make sense.

u/Ce_ne · 1 pointr/Bitcoin

Here you go ... https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861

Edit: Please make sure you read this by any means. It can turnout to be the most important piece of literature you will ever ready in your lifetime.

u/myquidproquo · 1 pointr/Bitcoin

It's hard to go back and try to find what really clicked about Bitcoin. I had kind of a background on network security and cryptography (although not at the level to be a Bitcoin developer myself, unfortunately...).

I first heard about Bitcoin on the Security Now podcast probably in 2013 and completely ignored it. I didn't know anything about investing, money or the economy so I just didn't care.

Later in 2015/2016 I started to hear about it again. I was starting to get interested in economy, finance, valuation and all that stuff. So I've tried to read the wikipedia article about Bitcoin and didn't understand any of it. Public ledger and all that stuff...

Then finally I've stumbled on the original Bitcoin whitepaper. Read it. Loved it.

I was lucky enough to have just enough background in cryptography to understand it. It's very well written, very easy to read. You should read it if you haven't done it already. I believe you only need to have an idea of what a hash function is and what public key cryptography is to understand it pretty well.

Then I've started to dive into the question of "What is money?". Everyone will have a different opinion on it. In my opinion money is just a technology to help people make transactions and if possible to store some value that can be used in the future...

I've read The Bitcoin Standard which is kind of interesting and the famous post Shelling Out: The Origins of Money by Nick Szabo which some people believe might be the real Satoshi Nakamoto.

I really don't care if some economists believe that money needs "intrinsic value" or it needs to be "backed" by something. If you are trading it for goods and services and you can store it it is some sort of money.

And then there are some properties that makes some money more desirable than another.

Some of the properties of Bitcoin are very similar to the properties that make gold a good store of value. It is kind of neutral, nobody controls it, there's a limit amount of it. But it adds a lot of stuff that can make it better than gold:

  • It's digital.
  • Easier to transact.
  • Easier to transport.
  • Easier to conceal.
  • You can travel with millions in Bitcoin without being noticed, without putting yourself or your family at risk (just imagine if you're running from war in your country)
  • Easier to prove you own it.
  • Easier to prove it's real and not a counterfeit.
  • When demand goes higher you can't create more supply of it. (You can produce more physical gold by using more miners and machines when demand goes higher. But you can't create more Bitcoins/time)
  • You are not dependent on monetary policies that change over time and might be subject to political and social influence. The monetary policy was defined on its creation. No one can change it.
  • Bitcoins stock-to-flow will be greater than gold on the next halving. And will keep doubling every 4 years.

    I can certainly remember some more properties that make it more interesting than gold. But of course it doesn't have the track record. It just didn't exist 1000 year ago... It is not a good electrical conductor and it is not shinny and beautiful. ¯_(ツ)_/¯

    Bitcoin might not work out but it looks like a good asymmetrical bet to take. Gold current market cap is around $7 Trillion. Bitcoin's market cap is around $150 Billion...
u/gizram84 · 1 pointr/Bitcoin

The short answer is that bitcoin derives it's value from being immutable. If a small group was able to change a critical consensus rule on a whim, then that coin is not immutable. Anything can be changed by a central team. You have no guarantee of future rules or behavior. So it's just like fiat money, worthless.

Also, once the block subsidy diminishes, you need fees to pay the miners for security. The shitcoin forks can only survive now because of inflation, and they have no long term plan to pay for security. The next halving will exemplify this, as they lose a large percentage of their miners.

The long answer is read this book:

https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861

u/ElephantCoconut · 1 pointr/india

If you intend on learning someday, here

u/[deleted] · 1 pointr/conspiracy

Yes, this is the best one: https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861

It's a history of money from Yap stones to Bitcoin

u/linuzri1976 · 1 pointr/Bitcoin

Read these two books to understand why Bitcoin matters :

  1. The Bitcoin Standard by Saifedean Ammous

  2. Mastering Bitcoin by Andreas Antonopolous
u/beaverpi · 0 pointsr/Silverbugs

I've heard this argument before, and the nothing backing it really makes no sense. I initially thought the same thing. What it represents is a transfer of value. Understanding the history of "currency" from Rai stones to jewels to precious metals on to government based fiat really explains the value in this.

If you care to see why crypto currency makes sense, I would strongly suggest reading The Bitcoin Standard: https://www.amazon.com/dp/1119473861?ref=ppx_pop_mob_ap_share

u/bluethunder1985 · -7 pointsr/collapse

thankfully we have bitcoin as an escape chute.