The Bitcoin Standard

23 Eylül 2021 19:05

It was government (fiat) money in the twentieth century that allowed for the birth of the heavily interventionist managerial state, with totalitarian and authoritarian tendencies.

Bir ulustaki faiz oranı, o ülkenin kültürel düzeyini yansıtır: Bir halkın zekası ve ahlaki gücü ne kadar yüksekse, o kadar çok tasarruf sağlar ve faiz oranı o kadar düşük olur. The interest rate in a nation reflects its cultural level: the higher a people's intelligence and moral strength are, the more they save and the lower the rate of interest.

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Mfy

22 Eylül 2021 07:56

Altın çağın müziği insanın ruhuna hitap edip onu günlük hayatın sıradan uğultularından daha yüksek çağrıları düşünmeye uyandırırken, bugünün müzikal sesleri insanın en adi hayvani içgüdülerine hitap ediyor, onu hayatın gerçeklerinden uzaklaştırarak, uzun vadeli sonuçlar veya daha derin herhangi bir şeyle ilgilenmeden anlık duyusal zevklerle kendini şımartmaya davet ediyor.

Mfy

20 Eylül 2021 21:28

304 syf.

· Kitabı okudu

6/10 puan verdi

16 günde okudu

The book can be divided into two parts. In the first part, it discusses the problems emerged by switching from laissez faire economic policies & gold standard to Keynesian economic policies and fiat money. And then only in the second part, starting on page 165 of 270, it moves on talking about Bitcoin. How bitcoin and blockchain technology works was not explained in detail. Without that technical aspect of bitcoin, the reader can't judge whether bitcoin is the money to replace fiat currencies or not. If you don't have background info on bitcoin, then most probably you will be lost in the second chapter. This book explains more why we should stay away from fiat money than why we should use bitcoin as fiat Money. Also, it is full of anti-government propaganda. It is kind of naive to go against all central authorities especially given the fact that they all play a crucial role by adding some kind of value (stability, security, directing resources etc.) The book refutes fiat money much more successfully than supporting bitcoin to replace it. The second part of the book where bitcoin is explained is much weaker. In fact the book only elaborates on pros of the bitcoin. The book is the one-sided story of money and bitcoin. It does not lay down pros and cons of bitcoin clearly and then express the opinion of the author. Instead, it supports bitcoin biasedly.

The Bitcoin StandardSaifedean Ammous · Wiley · 201835 okunma

Mfy

07 Eylül 2021 20:39

Another Austrian economist, Eugen von Böhm-Bawerk, even argued that the interest rate in a nation reflected its cultural level: the higher a people's intelligence and moral strength, the more they save and the lower the rate of interest.

Mfy

07 Eylül 2021 13:33

Every election is an advance auction on stolen goods H.L. Mencken

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Mfy

07 Eylül 2021 13:29

The average saving rate of 7 largest advanced economies dropped from 12.66% in 1970 to 3.39% in 2015 while average household's debt level rose to more than 100% of its annual income.