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Proof of Money: The Big Idea Behind Bitcoin: What You Don’t Know about Why You Need It Audible Audiobook – Unabridged
Bitcoin can grow and secure your wealth for generations.
But the key is knowing how, why, and when.
Get ready to challenge what you think you know about money.
Bitcoin is a better all-in-one investment:
- No monetary debasement
- No intermediaries, brokers, managers
- No rehypothecation
- Full bearer asset you hold
- No need to financialize things you don't care about
Bitcoin is better than stocks and bonds:
- No centralization
- No counterparty risk
- No VIP, IPO, or insider privilege
- No CEO or executive decisions
Bitcoin digitizes gold:
- Makes it portable, divisible, verifiable, frictionless
Bitcoin is the "internet of money":
- 24/7 access, decentralized, permission-less, lightning fast
Bitcoin demonetizes income real estate:
- No maintenance, deterioration, property taxes, tenants, liens
- Liquid, fractional, instant, mobile
- Absolute scarcity and sovereign rights for anyone
Bitcoin revolutionizes money technology:
- Auditable, immutable, transparent, open-source
- Unhackable ledger of value secured by energy
Bitcoin improves the environment:
- Stabilizes electric grids
- Emits zero carbon emissions
- Removes methane and CO2 from others
- Consumes less than 0.1 percent of global energy
- Relies solely on wasted, discarded, stranded, renewable energy
Bitcoin is freedom for eight billion people:
- For the unbanked, oppressed, disenfranchised
- Sees no borders, race, religion, politics, sex, or status
- Equality of opportunity and value for all
Bitcoin is a separation of money from the state:
- Free from confiscation, sanction, manipulation, censorship
- Supports independence, activism, or privacy
- Accountable only to the holder, a bank of the brain
The secret to unlocking Bitcoin is understanding its principles and properties.
Whether you're a seasoned investor or a curious newcomer, this book will transform your relationship with money (and help you gain more of it).
- Listening Length7 hours and 37 minutes
- Audible release dateMay 12, 2023
- LanguageEnglish
- ASINB0C51JXSJL
- VersionUnabridged
- Program TypeAudiobook
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Product details
Listening Length | 7 hours and 37 minutes |
---|---|
Author | Terence Michael |
Narrator | Terence Michael |
Whispersync for Voice | Ready |
Audible.com Release Date | May 12, 2023 |
Publisher | 100 Percent Terry Cloth |
Program Type | Audiobook |
Version | Unabridged |
Language | English |
ASIN | B0C51JXSJL |
Best Sellers Rank | #113,909 in Audible Books & Originals (See Top 100 in Audible Books & Originals) #64 in Banks & Banking (Audible Books & Originals) #318 in Digital Currencies #339 in Banks & Banking (Books) |
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I have read around 15 books on Bitcoin/economics/economic history/the financial system.
This is now the book that I am currently recommending to my friends and family.
I probably knew 80% of what was in this book before reading it, but the way Terence Michael explains everything is simple, and frankly awesome.
No matter how much you already know about Bitcoin, or if you do not know anything, this book is more than worth reading and for many people will change their lives.
Here are a few notes that I took:
Purpose: To protect wealth with decentralized cryptographic software and transact any portion of that wealth permissionlessly to anyone, anywhere, without bias.
Although sentiment dips with necessary bear markets, adoption does not as it continues to go up. The graphs you should look at are # of addresses holding Bitcoin, and the hash rate(decentralized security of the system) - Hint - They go straight up and will continue to do so. The only graph that is going to go down is the available supply.
If an authority has to force you to choose a money/currency, then there is probably something wrong with it.
The paper gold(ETF/bank notes) to gold ratio is 250:1. This means that the true value of real gold is likely exponentially higher in terms of dollars than the market gold price. Paper gold violates the principle of demand and supply necessary for market prices. This is much less likely to happen with BTC due to multiple reasons - mainly transportability, and verifiability of reserves.
Without responsibility, you don't have freedom. Governments first take away responsibility, and in doing so, take away freedoms. (not the same, but makes me think about Uncle Ben)
Central banks and counterfeiters both double spend. Whether you add numbers to a computer screen or physically duplicate paper bills, the downstream effect is the same. All people who are wage earners, and/or transact in USDs have their time and value stolen from them.
The chapter on Bitcoin and energy is too good to summarize. Read it for yourself.
Bitcoin's ultimate value is it's agency for freedom. It allows individuals to focus on, pursue, and communicate their interests. One can specialize in whatever they want and then capture that value with BTC. Because of Bitcoin's superior monetary properties, no additional work or risk needs to take place to retain that value(no need to invest in random stocks or buy multiple houses that you don't need and other people do).
Bitcoin shifts the monetary premium from investment assets to itself. It improves the world by returning other assets to their utility value.
What good is "free" medical care", if the other necessities of life(food and housing) double and triple every few years?
The FDIC insures 9T in bank deposits. They hold 125B in assets. 98.6% of people's "safe" money/wealth is at risk during a future bank run.
Bitcoin removes broken money because it separates money from the state.
Bitcoin becomes welfare for the needy, poor, and disadvantaged. It provides economic equality so people can seek access to healthcare and education no matter where they are. - The example he uses of how Afghani women are currently using Bitcoin to get out of oppressive systems and out of poverty is amazing. Please read it yourself.
There is no need to defend Bitcoin with a military. People use it by choice. The same cannot be said of the USD(or any other currency).
Bitcoin makes it more expensive for a nation-state to go to war. Instead of being able to extract wealth from its(poorest) citizens by printing, the state will have to directly tax the citizens to go to war. It makes it cheaper for the state to just participate in the Bitcoin network.
Other book recs (but read "Proof of Money" first):
Bitcoin Evangelism - DeMint
The Internet of Money- Antonopoulos
Principles of Economics- Saifedean
The Creature From Jekyll Island - Griffin
Broken Money - Lyn Alden
Podcasts:
Bitcoin Audible - Guy Swann
What is Money - Breedlove
Reviewed in the United States on February 3, 2024
I have read around 15 books on Bitcoin/economics/economic history/the financial system.
This is now the book that I am currently recommending to my friends and family.
I probably knew 80% of what was in this book before reading it, but the way Terence Michael explains everything is simple, and frankly awesome.
No matter how much you already know about Bitcoin, or if you do not know anything, this book is more than worth reading and for many people will change their lives.
Here are a few notes that I took:
Purpose: To protect wealth with decentralized cryptographic software and transact any portion of that wealth permissionlessly to anyone, anywhere, without bias.
Although sentiment dips with necessary bear markets, adoption does not as it continues to go up. The graphs you should look at are # of addresses holding Bitcoin, and the hash rate(decentralized security of the system) - Hint - They go straight up and will continue to do so. The only graph that is going to go down is the available supply.
If an authority has to force you to choose a money/currency, then there is probably something wrong with it.
The paper gold(ETF/bank notes) to gold ratio is 250:1. This means that the true value of real gold is likely exponentially higher in terms of dollars than the market gold price. Paper gold violates the principle of demand and supply necessary for market prices. This is much less likely to happen with BTC due to multiple reasons - mainly transportability, and verifiability of reserves.
Without responsibility, you don't have freedom. Governments first take away responsibility, and in doing so, take away freedoms. (not the same, but makes me think about Uncle Ben)
Central banks and counterfeiters both double spend. Whether you add numbers to a computer screen or physically duplicate paper bills, the downstream effect is the same. All people who are wage earners, and/or transact in USDs have their time and value stolen from them.
The chapter on Bitcoin and energy is too good to summarize. Read it for yourself.
Bitcoin's ultimate value is it's agency for freedom. It allows individuals to focus on, pursue, and communicate their interests. One can specialize in whatever they want and then capture that value with BTC. Because of Bitcoin's superior monetary properties, no additional work or risk needs to take place to retain that value(no need to invest in random stocks or buy multiple houses that you don't need and other people do).
Bitcoin shifts the monetary premium from investment assets to itself. It improves the world by returning other assets to their utility value.
What good is "free" medical care", if the other necessities of life(food and housing) double and triple every few years?
The FDIC insures 9T in bank deposits. They hold 125B in assets. 98.6% of people's "safe" money/wealth is at risk during a future bank run.
Bitcoin removes broken money because it separates money from the state.
Bitcoin becomes welfare for the needy, poor, and disadvantaged. It provides economic equality so people can seek access to healthcare and education no matter where they are. - The example he uses of how Afghani women are currently using Bitcoin to get out of oppressive systems and out of poverty is amazing. Please read it yourself.
There is no need to defend Bitcoin with a military. People use it by choice. The same cannot be said of the USD(or any other currency).
Bitcoin makes it more expensive for a nation-state to go to war. Instead of being able to extract wealth from its(poorest) citizens by printing, the state will have to directly tax the citizens to go to war. It makes it cheaper for the state to just participate in the Bitcoin network.
Other book recs (but read "Proof of Money" first):
Bitcoin Evangelism - DeMint
The Internet of Money- Antonopoulos
Principles of Economics- Saifedean
The Creature From Jekyll Island - Griffin
Broken Money - Lyn Alden
Podcasts:
Bitcoin Audible - Guy Swann
What is Money - Breedlove
What truly distinguishes Michael’s work is his ability to demystify the technical and decentralized aspects of the blockchain and mining. He adeptly navigates through the complex mechanisms of bitcoin, including the deflationary features embedded within its algorithm, such as the halving events that ensure its scarcity and potential for value retention over time.
Beyond merely explaining these concepts, Michael engages with the broader implications of bitcoin’s design, such as its challenge to traditional financial systems and its potential to offer a more secure, transparent, and equitable alternative. His expert analysis is not just informative but also highly persuasive, making a strong case for considering bitcoin as a serious financial instrument in today’s digital age.
For anyone who has felt overwhelmed by the jargon and technicalities often associated with cryptocurrency discussions, Michael’s book offers a refreshing and enlightening perspective. It stands out as an essential read for those looking to grasp the fundamental principles of bitcoin and its significance in the evolving landscape of global finance.
I've never heard anyone explain and break down the case for Bitcoin with such clarity and simplicity. The author has an uncanny ability to explain the complexity of Bitcoin with simple, direct language.
If you are ready to be enlightened, get this book today. You will not be disappointed.
Reviewed in the United States on March 9, 2024
I've never heard anyone explain and break down the case for Bitcoin with such clarity and simplicity. The author has an uncanny ability to explain the complexity of Bitcoin with simple, direct language.
If you are ready to be enlightened, get this book today. You will not be disappointed.
On the other hand, bitcoin requires to prove that work happened, just like gold needs to be mined at a high expense, bitcoin is mined at a high expenditure of energy and computing processing power. This is not the book to get into the technical details of bitcoin, but rather the perfect book to understand money and the sequence of events throughout history that led to the existence of bitcoin. Should be mandatory reading at high schools or colleges around the world.
Definitely worth a space on your bookshelf. Read it twice.