Isn't The Bitcoin Standard a pretty bad book?
I recently read many high praises for The Bitcoin Standard by Saifedean Ammous. So I decided to buy it and read it.
There were parts that were definitely interesting, like the historical retelling of how the barter system fails when one side doesn't necessarily need what the other side is trading, which led to different forms of money being created. And then how many early money systems failed because someone figured out how to flood the system, until gold came around. And then the story of how eventually the dollar was removed from the gold standard, to basically cover up the consequences from past errors.
Super interesting stuff.
But then the rest of it - so very very little nuanced. He's a huge fan of the gold standard and wishes for it back, without so much as a word about its weaknesses.
The author spews unprofessional vitriol about economists he doesn't agree with, claiming them to be "incompetent" and "foolish". We get it, you don't like Keynes and would like to piss on his grave.
He seems to jump between claims that are backed with proper and solid evidence, and his own musings and opinions, without much distinction between the two. The reader is merely expected to take both equally at face value.
It's super repetitive, as if he didn't actually have enough material to fill a whole book and so kept writing the same things over and over again. Like the point about sound money needing to be scarce, which he repeated perhaps ten times. One particular paragraph about the DAO hack on Ethereum is even verbatim repeated twice.
I was surprised that this book comes so highly recommended. Are there any better books on Bitcoin that I could acquire? I'm currently enjoying Broken Money by Lyn Alden, seems to be way better so far.
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