The Fiat Standard

Saifedean Ammous
Biweekly chapters from Saifedean Ammous' The Fiat Standard, the sequel to The Bitcoin Standard
Created 02 Nov 2020
  • Chapter 17: Can bitcoin fix this
    02 Aug 2021 • < 1 min read
    Perhaps the most common misconception about bitcoin among fiat economists is that they imagine it needs their educated official approval, and a regulatory green light, to be adopted as money. Governme...
  • Chapter 16: Bitcoin cost benefit analysis
    02 Aug 2021 • < 1 min read
    The first section of this chapter explains the nature of the trade-off between fiat and bitcoin. Fiat only scales by having an authority able to decree the reality of the ledger. That ultimately leads...
  • Chapter 15: Bitcoin and energy markets
    06 Jul 2021 • < 1 min read
    Bitcoin Mining: Anti-fiat technology As discussed in the first section of this book, the fiat standard solves the problem of spatial salability of physical money by replacing the need to move the phys...
  • Chapter 14: Bitcoin Banking
    28 Jun 2021 • < 1 min read
    Savings technology Chapter 5 surveyed the historical evolution of the technologies used to fulfill the function of savings. Up until the nineteenth century would save in physical silver or gold coins....
  • Chapter 13: Bitcoin Scaling
    16 Jun 2021 • < 1 min read
    This chapter examines the magnitude of the scaling problem, and the challenges Bitcoin will face on its way to a much larger volume of transactions. Due to its nature as a hard money, I argue it is no...
  • Chapter 12: Why Bitcoin Fixes This
    09 Jun 2021 • < 1 min read
    Chapter 12: Why bitcoin fixes this Part I of this book examined the operational mechanisms of fiat money, while part II focused on the broader economic, social, and political implications of the use o...
  • Chapter 11: Fiat Fuels
    24 May 2021 • < 1 min read
    One of the most notable consequences of the closing of the gold exchange window in the 1970s was the significant and unprecedented increase in the prices of oil, the first significant increase in the ...
  • Chapter 10: Fiat Science
    03 May 2021 • < 1 min read
    Whereas the last chapter examined the effect of fiat on the human body through its impact on food markets, this chapter examines the pervasive effect of fiat on the human mind, through its impact on t...
  • Chapter 9 (pt2)
    12 Apr 2021 • < 1 min read
    4. The Harvest of Fiat Seed oils and soy products have legitimate industrial uses, corn, soy, and low-fat milk are passable cattle feed, though not as good as letting cattle graze. Processed flour and...
  • Chapter 9: Fiat Food (pt1)
    12 Apr 2021 • < 1 min read
    1. Fiat farms 2. Fiat diets 3. Fiat foods 4. The Harvest of Fiat 5. Sound Food 6. Fiat soils Money, being a part of every economic transaction, has a pervasive effect on most aspects of life. The mech...