Read_472 - The Fiat Standard - Chapter 1 [Saifedean Ammous]

"For the reader who has become familiar with the operation of bitcoin, a good way to understand the operation of fiat is by drawing analogy to the operation of bitcoin using concepts like mining, nodes, balances, and proof of work. My aim is to explain the operation and engineering structure of the fiat monetary system and how it operates, in reality, away from the naive romanticism of governments and banks who have benefited from this system for a century." - Saifedean Ammous Today we dig into Chapter 1 of the sequel to the seminal work in the Bitcoin ecosystem, The Fiat Standard. The book is being published on Saifedean.com chapter by chapter before its final release, and you can subscribe to get his courses and the other chapters as they release. But today we dig into the first chapter, the ideas, and a new mindset for examining the failures and successes of fiat money. This is not to be missed. The Fiat Standard - Chapter 1: https://saifedean.com/the-fiat-standard-chapter-1/ A huge Thank You to the Bitcoin Audible Sponsors: Hexa Wallet - Mobile wallet, seedless, batching, custom fees, multiple accounts & more (guyswann.com/Hexa) BitBox - Minimal, user friendly, secure, Swiss made, open source, hardware wallet (guyswann.com/BitBox) LVL.co - The first Free, no-fee exchange & Bitcoin banking services! --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message