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Summary of Saifedean Ammous's The Bitcoin Standard
- Narrated by: Tabitha Mixon
- Length: 21 mins
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Summary of Saifedean Ammous's The Bitcoin Standard
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Summary
No time to read/listen to the original book? Get the main key insights from Summary of Saifedean Ammous’ The Bitcoin Standard in 23 minutes or less.
A few key insights from chapter one:
1. Bitcoin is the newest technology to serve the purpose of money. It is an innovation that takes advantage of the digital age's technical possibilities to solve a dilemma that has long plagued humanity: how to transfer economic capital through time and space.
2. To comprehend Bitcoin, one must first understand money, and there is no better way to comprehend money than to research its purpose and history.
3. Money is a social convention. It's a contract. If I give you something valuable, and you give me something valuable, and we both agree that the thing I gave you is worth the thing you gave me, then we've established the value of what I gave you.
4. Many objects have acted as money throughout history, like gold and silver, copper, seashells, large stones, salt, livestock, government paper, precious stones, and, in some cases, alcohol and tobacco.