The Bitcoin Standard: The Decentralized Alternative to Central Banking

Author: Saifedean Ammous
This Month Reddit 7


by slepyhed   2019-01-13

My suggestions:

  1. Check out and learn how to use it. You'll use the same credentials that you do on coinbase, but save a lot on fees.
  2. Don't bother with all the alt-coins.
  3. Start purchasing Bitcoin with each paycheck.
  4. Read "The Bitcoin Standard" ([ )
  5. Get a hardware wallet (I recommend Trezor) and start storing your Bitcoin on it.
  6. Research the benefits of decentralized exchanges, learn how to use one (I recommend Bisq), and if it meets your needs, start using it as soon as possible.
  7. Read "Mastering Bitcoin" ([ )
  8. Develop a long term outlook, don't worry too much about price swings.

From your post, it sounds like you might be interested in just trading. In that case, my suggestions won't help a lot. I think that the majority that try trading end up losing. If you do decide to buy/sell/trade, be sure to spend some time learning about trading, limits, stops, strategies, etc. Start small, win some, lose some, learn some, before going in big.

by eeeggg333   2019-01-13

The whole history of this plus many other currencies all the way up to bitcoin are laid out in this amazing book [

A must read for every crypto enthusiast

by slepyhed   2019-01-13

You're not too late. Check out this podcast episode for reasons why:

As far as what Bitcoin is, I recommend reading three books: The Internet of Money (Volumes 1 and 2) and The Bitcoin Standard.




Alternatively, watch all the videos you can find from the authors of these books, Andreas Antonopoulos and Saifedean Ammous.

by beowulfpt   2018-11-10

Ignore the crypto bashing and read this to maximize your future returns. When everyone [inevitably] agrees and considers it standard, it will be too late to have maximum profits.

The jokes can always be added here and join ten (10) years of failed forecasts/threats. Remember: It's going to be most profitable when most people are unaware of it or considering it nonsense - anyone who lived through the internet in 1990-2000 knows what that means. Ignore the Luddites because BTC will still be here in 10+ years, long after their current cash cows are gone.

by censorship_notifier   2018-11-10

The following comment by gypsytoy (has been notified) was openly greylisted.

The original comment can be found(in censored form) at this link: CryptoCurrency/comments/8y6qjc/-/e2eg6sq?context=4

The open modlog reason it was greylisted as reported by /r/CryptoCurrency was: Section 1B-2 - Blacklisted Domains. Domain detected: {{match-domain+body+title-1}}.

The original comment's content was as follows:

> > Yeah, merchant adoption and cheap fees, terrible. > > Has little to do with sound money. It's absurd that people think sound/hard money is going to be free to use. Furthermore it's even more absurd to think that blockchains are going to compete with centralized payment rails. As if anyone would care to switch from plastic anyway. Blockchains offer NOTHING over existing systems in this regard. The real value is borne of decentralization and network effect. Immutability, censorship resistance, security, fungibility and a decoupling from institutions and the state. If you think that value comes from being able to pay for your coffee in some novel, but ultimately useless, way then you are extremely confused about economics and the ability for blockchains to out-perform centralized and existing systems. > > > > I already linked this and you know it. Here it is again, just in case you can't figure out how to click on the above link. > > > > And again... > > > > > Furthermore, there are plenty of others who are articulate on these matters. > > Obviously. this book has been making the rounds lately and was well received. Though I've only read about half of it so far. > > Also. Johnny Dilley is always well-spoke about these principles and recently was on Pierre Rochard's podcast covering some of these topics. Also, that time he destroyed Roger was pretty funny and enlightening as well. > > But really, man. It's clear that you're stuck in the paradigm that consumes so many noobs and idiots that enter the space. You've latched on to the "hurr durr low fees" and "blockchain utility coins!" memes without any apparent due diligence. Mark my words, nearly all of that shit will fall by the wayside within the coming years. At some point people will wake up to the fact that they're buying pump and dump schemes and that eventually the music runs out. Even #2 Ethereum (which is already a shitshow) is going to face market arbitrage from an unlimited number of forks and competitors (if they ever actually demonstrate that decentralized smart contracts are useful [there are many reasons to think they're not]). > > Whatever, man. Believe what you want. Who am I to try to change your mind. I really couldn't care less about shitcoins or their corresponding bag holders. It's all just noise.

by joesmithcq493   2018-11-10

> What percentage of the worlds population possess that particular coinage?

Anything new that gets adopted goes from 0 to 1. At some point no one used gold, then people started to adopt it.

> What type of reading should I be doing?

by AussieBitcoiner   2018-11-10

instead of counting on other people's thoughts and news articles, I suggest you put in some time to study and learn what bitcoin is, how it works and why it was created. Then you can come to a more solid conclusion yourself about what you think the future of bitcoin is, and then decide what to do from there.

Good list of online resources (including a link to the original paper):

this is a great book if you have the time to read it - [

as always, the no1 rule is don't put in more than what you can afford to lose, especially if you have others depending on you.

by tlztlz   2018-11-10

Your welcome. We are all beginners.

I strongly advice not to day trade. Unless you are a daytrader and have years in knowledge of how to do it. You will loose money. Better HODL. Buy and hold.

Books I recommend for beginners: The Internet of money 1&2 from Andreas Antonopolous and The Bitcoin Standard by Saifedean Ammous. The last one is from an economy professor and the first ones are great talks to understand what bitcoin is, and where its going.

by castorfromtheva   2018-11-10

>And this is a shitpost.

This. By the way 'hard' money is often used by Saifedean Ammous (Book: The Bitcoin Standard ) Money would be the harder, the more difficult it is to produce. Harder money always would replaces not-as-hard money. Bitcoin would be the hardest money ever created. Freely paraphrased.

by slepyhed   2018-11-10

Here's a great explanation for how blockchain works:

For a more in depth understanding of Bitcoin, Mastering Bitcoin is great: [


To get an idea of why Bitcoin has value, The Bitcoin Standard is great: [


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

by grafgarage   2018-11-10

If you read this i guarantee you'd reconsider your position.

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.