The Bitcoin Standard: The Decentralized Alternative to Central Banking
In his book, The Bitcoin Standard, Dr Saifedean Ammous offers a new perspective on the evolution of money and how Bitcoin can be a new form of sound money.
It won't be too exaggerated to say this book can be considered as an undergrad degree for understanding money, the history of money and Bitcoin.
In his book, The Bitcoin Standard, Dr Saifedean Ammous offers a new perspective on the evolution of money and how Bitcoin can be a new form of sound money.
The book explores the history of money which gives you an idea of how gold has been and still is a more desirable medium to store value. It helped me to understand the evolution of different currencies used by different civilizations, how gold and gold standards evolved as well as the history and politics of fiat currency and the demolition of the gold standard.
The author argues that for a currency to be sound, it must be scarce or hard to increase supply due to increased demand and durability. Bitcoin satisfies these two requirements better than any other form of currency available today.
The author, argues that Bitcoin is the most natural form of money ever known to man. He explains how bitcoin can be a store of value and a unit of account as well as how it can facilitate the usage of money without interference from the government or without having intermediaries. He also discusses why bitcoin can be a form of money that is superior to gold and fiat currency.
The author also outlines how the modern financial system has evolved over the years and his thoughts on what the future of money will look like.
As for Islamic finance, you can relate to why Islam has prohibited unequal exchange of money. You can also understand why the Dinarist movements may not solve all the problems fiat currency has (the underlying fact is human greed to supply more money). It also highlighted the consequences of today's approach toward money, consumption and the mindset of people. And you will be amazed how Islamic teachings are more and more relevant in today's age. There are lots of things to relate to Islamic economics and the concept of money in this book.
Happy reading…….
Bitcoin is an innovative new digital currency that has been making headlines for years now. It was created by Satoshi Nakamoto in 2008 and it was designed to be a decentralized form of currency that would not be controlled by any central authority or government. This type of currency is called cryptocurrency and it relies on blockchain technology to operate.
To know more about Bitcoin read:
English: Bitcoin: A Peer-to-Peer Electronic Cash System
Bangla: Translated Paper
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