Bitcoin: Hard Money You Can't F*ck With: Why bitcoin will be the next global reserve currency
Why bitcoin will be the next global reserve currency
Jason A. Williams
Bitcoin is hard money you canâ€™t f*ck with.No-one controls it. No governments, no companies, no central banks, no money printing. Itâ€™s a revolution as big as the internet. And itâ€™s never been hacked.Entrepreneur and investor Jason A. Williams is the first author to put bitcoin in context of the 2020 crisis.
Why I read this book?
In going down the crypto rabbit hole I discussed how when starting your journey in to cryptocurrencies its very important to do your own research and formulate your own opinions, in order to understand how and why cryptocurrencies and in particular Bitcoin is different to what we know as money.
Another key thing to understand is that not all cryptocurrencies are the same. I have to admit this was something that I was very naive about in the beginning too. However, after being in the space for a few months you'll soon discover, that just like not all programming languages are the same and each language has its own ecosystem and attributes that make it quite different, each Cryptocurrency project has its own ecosystem and attributes that make it different.
In reading the Bitcoin Standard I learned what separates Bitcoin from the traditional finance world and helped me understand Bitcoin a whole lot more. I was looking for more information and insight from others that operate in the space.
Just a like a number of other folks, I have a twitter account and generally use it to make wise cracks and vent dissatisfaction at the failing political classes. I also use it curate my news feed and follow industry thought leaders etc. Over the past few months I have also been expanding my lists to include crypto thought leaders and it is by this that I stumbled across Jason A. Williams.
What I like about this book
This book takes you through a journey of how Jason started his journey down the crypto rabbit hole and all the things he learned along the way and how he became gradually convinced about Bitcoin and getting more involved in its ecosystem.
Just like the title implies, the writing style is brash, assertive, and concise. However, this works well in a book that makes the case that magic internet money is going to take over the world.
The book provides the history of money, modern-day economics and monetary policy, to forward-looking global outcomes. The best-selling point is the authors ability to quickly dive deeply into detail and jump out without boring readers, leaving them with concrete knowledge that overall furthers the Bitcoin narrative.
This book is an easy read and it quite entertaining. Although, there is an element of boasting etc, it is actually quite forgivable considering Jason's background, as a successful entrepreneur, venture capitalist, and angel investor and Bitcoin Miner.
I did have some concerns, that after reading the Bitcoin Standard whether this book may be a little too introductory, however this wasn't the case and I still enjoyed the book.
I would have to say, that some of the facts can be a little overstretched, but on the whole they do check out. The explanation of inflation, assets, dollar value are well written, along with the very brief introduction into Game Theory which is vitally important to understand when it comes to Crypto.
It was from reading this book, that I decided to find out bit more about Game Theory and read Game Theory : A very short introduction
A key point I noted when reading the book, is that Jason, is a Bitcoin Miner and he uses 100% renewable energy to do so, which I have also discovered that a number of Bitcoin miners also do so.
Why I recommend this book
In retrospect, this should probably have been the first book I should've read when starting my journey into Crypto and it does provide some great high level uncomplicated overview of a number of concepts you need to understand about Bitcoin. It also provides some great references for additional sources of information to consider.
It is a great light read introduction into a complex concept of Bitcoin and Cryptocurrencies in general, which should further fuel your interest into the related subjects.
In my opinion chapter 18, is well worth reading the book for, which is primarily focused on the belief that our global monetary policy is not sustainable, specifically with regards to the exit from the gold standard in 1971.
The hypothesis presents that the transition off the gold standard was a disaster. The author presents number of charts, the transitions impact carried for wages, income inequality, inflation, and currency crashes.
After reading the book, I have become more convinced that Bitcoin provides the possibility of becoming a world reserve currency.