After reading “The Bitcoin Standard” by Saifedean Ammous, I am convinced that Bitcoin is here to stay. Dr. Ammous, in this book, does a brief history of the origins of money, and he also touches on the societal impact of when sound money is used, as compared to fiat currency.
In addition to the historical primer on money, he provides a critique of the current economic model used by most economists: The Keynsian economic model. His critique rips apart the model to the point of total submission by anyone who stands by this model. (yes, there is some hyperbole used here, but its okay…)
Dr. Ammous furthers his argument by presenting how money is used across time. A fancy word for this is: “inter-temporal utility”. The “harder” the money is–if the money unit is more difficult to expand–it creates an environment that economic actors in the economy save their money for future consumption. Per Dr. Ammous, societies that have used this “harder” currency have flourished in all aspects of its civilization.
In my opinion, its best feature is its ability to store value inter-temporally…similar to Gold and Silver. As the world’s central banks print more currency, and Governments engage in deficit spending, sound investors will implement a strategy that will include Gold, Silver and Bitcoin.
Featured below are several videos featuring Dr. Ammous discussing the benefits of Bitcoin. Feel free to check them out, and take copious notes if you are serious about learning more about the benefits of Bitcoin.