HomeBitcoinI have learned three...

I have learned three things from the Bitcoin Standard.

I like to read because it’s fun, and I spend a lot of time doing it. Some books are not just for fun, they also teach important lessons and give deep understanding. “The Bitcoin Standard” by Saifeden Ammous is a book that has helped me understand money, economics, and Bitcoin (BTC) better.

The book has 300 pages and is full of knowledge. It’s hard to summarize all the information in just one article. However, I am excited to share three very valuable lessons that I have learned from reading it.

This book explains how Bitcoin works and how it is used as digital money, building on the history of money. This book does not encourage you to buy Bitcoin.

Bitcoin’s value will continue to change a lot for some time. It might do well or it might not. Also, using it needs a lot of knowledge about technology and it can be risky, so it’s not good for many people.

The book wants to explain how the network works economically so that readers can understand it before deciding if they want to use it. The author said that people should carefully understand something before deciding if they should use it.

How does money come into existence.

Throughout history, it has been difficult to move money and resources to different places and times.

While trading has been around for a long time, it doesn’t work well in today’s society, especially when people don’t know each other.

Barter doesn’t work well because it’s hard to trade things that are very different in value. Different expiration dates make it hard to trade perishable and durable goods at the same time.

Also, because they are not in the same place, it’s hard to trade directly. So, a middleman is needed to make the trade easier.

The answer to this problem is one thing that people use to buy things, it’s called money.

Money makes it easier to buy and sell things without having to trade items directly. Its main purpose is to be used as money, not for buying things or making things, but mainly for making it easier to trade with others.

People always keep some of their money in cash because it is easy to access and use. However, choosing to keep money instead of spending it or investing it means that there are things you can’t buy or opportunities to make more money that you might miss out on.

The constant need for money shows that it is the easiest form of capital to use.

“The Bitcoin Standard” talks about how it’s difficult to move money around over long distances and time. It explains how money has changed over history to solve this problem. It also says that we need a reliable way to exchange money and keep its value the same over time and in different places.

The writer says it’s important to have a money system that’s better than bartering. They want money that everyone agrees on and is always available.

The book says that this kind of money system helps the economy stay steady and makes it easy to trade with trust. It also says that Bitcoin is the only currency that has all these good qualities.

The writer argues that Bitcoin is special because it is decentralized, has a limited supply, and is based on math. This makes it a good solution for the problems with gold, silver, and regular money.

It says that Bitcoin is better than traditional precious metals because it’s safer and available to more people around the world. Furthermore, Bitcoin is limited in supply because of its algorithm, unlike fiat currencies which can lose value due to inflation. This makes Bitcoin a good option for people who want a steady and dependable form of money.

Bitcoin is the only reliable currency.

Exploring the problems money tries to solve helps us understand what makes money different, especially good and bad money.

The idea of sound and unsound money helps us understand how money systems can either work well or not work well in preserving value over time.

Money is good when its value stays the same and it can be used to buy things, keep track of prices, and save for the future.

In the past, things like gold and silver have shown that they are good forms of money.

Stable money helps people think about the future and save and invest money for their future plans.

The reason why sound money is important for investment and starting businesses is because it is a stable and reliable way to trade goods and services. When people and companies believe that the money they have will stay the same in value over time, they feel more confident and are able to make long-term plans.

This stability helps business owners make smart choices about where to invest their money, because they can better understand the risks and rewards.

Also, having stable money helps make the economy more steady and reliable. Without very high or very low prices, entrepreneurs can more easily use resources well and this consistency is very important for businesses to do well.

The book talks about a type of software that lets people send money without it losing value, without needing to involve other people or organizations.

Bitcoin is a new way to solve problems with money using technology. Bitcoin is changing the way we think about money and how we do business. It is becoming an important part of our financial systems and is based on strong principles.

Throughout human history, we have used different things as money like gold, silver, copper, sea shells, glass beads, salt, cattle, and even cigarettes in some situations. Saifeden Ammous said that there is no right or wrong money, but there are results for using different types of money.

Solving the problems of being strong, easy to carry, easy to divide, and easy to recognize as money is not too hard to do.

However, it is much harder to keep something rare over a long period of time. In this situation, scarcity over time means how a product can still be valuable in the future.

For something to be considered scarce over time, it should not be able to deteriorate. Something being in good condition for a long time is important for it to be used as money, but it’s not enough. The value of a good can still go down even if it’s still in good condition.

Making sure that the amount of the product doesn’t increase a lot while you own it is important for keeping it scarce over time. It’s important to limit how much of the product is available so that its value stays high for a long time.

Scarcity means that something is rare and hard to find. It also means that it can keep its value for a long time.

Bitcoin is scarce because there is a limit to how many can be made. This is because of the way it was designed and the decision to make only a certain amount. The rules for Bitcoin say there can only be 21 million coins.

This limited supply is a basic part that makes Bitcoin different and lowers the risk of prices going up and making its value less. Bitcoin’s blockchain is decentralized, which means no one person or organization can control how much of it exists.

When is the right time to read the book.

For anyone thinking about investing in Bitcoin, it’s a good idea to read “The Bitcoin Standard” by Saifedean Ammous. This important book explains how Bitcoin works and also looks at its history, how it affects the economy, and its philosophical origins.

“The Bitcoin Standard” explains how money has changed over time, comparing it to old forms of money and analyzing the current system we use. Saifedean Ammous looks at how Bitcoin works as a digital currency that can’t be controlled or censored, and how it could be a good way to save money compared to things like gold.

If you finish reading this book and believe that Bitcoin is something you should have. Before you buy bitcoin, you should spend time learning how to buy, store, and own it safely. BTC is designed so that the knowledge about it cannot be given to someone else or hired out. There is no other choice but to take personal responsibility for using this network, and it requires a real investment to get into BTC,” said Saifedean Ammous.

Warning: The information on this website is not meant to be used as investment advice. Investing is risky. When you invest, you might lose your money.

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

BINANCE RECONSIDERS RULES FOR TOKEN LAUNCH, INSISTS ON QUALITY FOR NEW LISTINGS

Binance has noticed the low-float token trend and will limit...

Bullish Forecast for Bitcoin (BTC) from Analysts: “Last Opportunities Before Parabolic Rally!”

While Bitcoin has experienced a significant increase recently, surpassing $67,000, analysts...

KOI Announces Strategic Partnership with B² Network

KOI, Kingdom of Inscription, a unique game economy powered by AI...

Which Altcoins Will Binance List? Here is the New Strategy!

While Binance, the world's largest cryptocurrency exchange, continues its altcoin listings...

- A word from our sponsors -

Read Now

BINANCE RECONSIDERS RULES FOR TOKEN LAUNCH, INSISTS ON QUALITY FOR NEW LISTINGS

Binance has noticed the low-float token trend and will limit listings based on a new rule set. Venture-backed projects are entering the market, often with a low float. VC funding returned in Q1, creating a new challenge for centralized exchanges. Binance issued a new list of rules for...

Bullish Forecast for Bitcoin (BTC) from Analysts: “Last Opportunities Before Parabolic Rally!”

While Bitcoin has experienced a significant increase recently, surpassing $67,000, analysts continue to interpret BTC's price movements and make new predictions. At this point, many analysts argue that Bitcoin is currently in a consolidation and reaccumulation phase. Analysts note that the current phase presents an opportunity for investors to...

KOI Announces Strategic Partnership with B² Network

KOI, Kingdom of Inscription, a unique game economy powered by AI and Bitcoin liquidity, is pleased to reveal that they have entered into a partnership with B² Network, the prime choice for Bitcoin’s Layer-2 framework. This partnership is aimed at adding a new layer of liquidity to...

Which Altcoins Will Binance List? Here is the New Strategy!

While Binance, the world's largest cryptocurrency exchange, continues its altcoin listings at full speed, it significantly moves the price of the relevant altcoin with its listings. While investors were looking forward to Binance listing new altcoins, a new statement came from the exchange regarding the altcoin listing policy. At...

ENERGY SECTOR SEES THE BIGGEST SPIKE IN “AI” MENTIONS IN Q1, BEYOND TECH

More energy companies talked about AI in the earnings call in Q1, compared to the previous quarter. The info-tech and communication sectors still account for the highest number of “AI” mentions. The traction of AI development is placing a huge demand on energy globally. Artificial intelligence is...

Big Debate Between Analyst Saying “Bitcoin is Dead” and a 50 Years of Economist

Peter Schiff and Peter Brandt, two analysts who frequently share analyzes about the cryptocurrency market, got into a serious discussion. The discussion first started after gold-loving analyst Peter Schiff commented on the performance of some assets recently. Citing a previous tweet, Schiff mentioned that the price of silver...

Nimble Network Announces a New Collaboration with Anome

Nimble Network, a decentralized artificial intelligence orchestration layer to improve the AI ecosystem, has recently announced an exclusive partnership. As per the company, it is joining forces with Anome (an on-chain game ecosystem focusing on enhancing GameFi, NFT liquidity, NFTFI, and DeFi. On its official account on...

RESEARCH SHOWS AI HELPS IN HEALTH CARE TRANSFORMATION

AI accelerates drug discovery in the healthcare sector. AI transforms health research but requires careful implementation. Faster disease diagnosis with AI, but bias concerns. Artificial intelligence is reshaping health research and speeding up the discovery of drugs and disease investigation. With the help it brings to the healthcare...

Solana and Sui Lead Fastest Blockchain Race with Record Transaction Speeds

In the dynamic world of blockchain technology, transaction speeds have become a pivotal metric for measuring platform performance. CoinGecko’s latest report reveals a notable surge in transaction speeds across leading blockchain platforms, driven by a wave of on-chain activity and the rising popularity of meme coins. Solana Leads...

These Are The 28 Altcoins Binance Has Invested In But Hasn’t Listed Yet

Binance Labs, the investment arm of Binance, the world's largest cryptocurrency exchange, has been investing in many altcoin projects recently. However, Binance does not yet list many of the altcoins it invests in on its exchange platform. Although Binance's investment in a project does not guarantee listing on...

BRITISH MOTORISTS SKEPTICAL OF AI-DRIVEN VEHICLE SUPERIORITY

Three in five British drivers doubt automatic vehicles’ capabilities. AI technology faces skepticism from British motorists. UK drivers think they’re better than AI cars. A recent poll suggests that 60% of UK drivers are convinced they are better than automatic AI-driven vehicle technologies. The UK government hopes to...

CryptoQuant CEO Announces the Bullish End Date in Bitcoin!

Leading cryptocurrency Bitcoin reached a new ATH, surpassing its previous ATH of $69,000 before the halving in April. While the new ATH before Halvig increased investors' bullish expectations, BTC experienced serious corrections afterwards. While these corrections caused speculation that the bear market had started again, CryptoQuant CEO Ki Young...