This is our Bitcoin Reading list for 2017. In order to obtain a basic understanding of both Bitcoin itself and its economic ramifications this is the list of books and resources that we recommend that you review. After reading these books you will have a better understanding of Bitcoin and its implications which will aid you in determining if it is something you want to get involved in as a means of wealth preservation in the upcoming financial collapse. As a few key features of Bitcoin that you should remember while you go through this material is that it’s:
- Decentralized – Meaning there is no server to shut down or any way to stop it without first hacking or turning off millions of computers all around the world
- Trustless – You hold your own bitcoins and you do not rely on anyone to give you permission to use, spend or hold your bitcoins.
- Immutable – Bitcoin’s blockchain is unable to be changed by anyone, meaning no one can undo/reverse your transactions or take your bitcoins from you
- Limited Supply – There will never be more than 21 million bitcoins created (with about 16 million currently in circulation).
- Predictable Monetary Supply – Bitcoin can never undergo hyperinflation like fiat (USD, EURO, Pesos etc) will. Current inflation rate is about 4% and will drop to about 1% in a few years.
- No Possibility of Capital Controls – This means you can always spend your bitcoin however you want, there is no server or central authority to stop or limit how and when you spend your bitcoins.
After going through the resources below you will see how Bitcoin serves as a solution to many of the monetary and fiscal problems that all national (fiat) money will and is undergoing.
Step 1: Understanding Money Creation
This video will help you understand how the federal reserve loans money to government and how banks create money out of thin air
Step 2: Monetary and Fiscal Policy Risk and the Dollar’s Downfall
|The Death of Money||The Death of Money – James Rickards
“The next financial collapse will resemble nothing in history. . . . Deciding upon the best course to follow will require comprehending a minefield of risks, while poised at a crossroads, pondering the death of the dollar.”
The international monetary system has collapsed three times in the past hundred years, in 1914, 1939, and 1971. Each collapse was followed by a period of tumult: war, civil unrest, or significant damage to the stability of the global economy. Now James Rickards, the acclaimed author of Currency Wars, shows why another collapse is rapidly approaching—and why this time, nothing less than the institution of money itself is at risk.
Step 3: Market Risks, Bubbles and Collapses
|Irrational Exuberance||Irrational Exuberance – Robert Shiller
New York Times bestseller, Nobel Prize-winning economist Robert Shiller, who warned of both the tech and housing bubbles, cautions that signs of irrational exuberance among investors have only increased since the 2008-9 financial crisis. With high stock and bond prices and the rising cost of housing, the post-subprime boom may well turn out to be another illustration of Shiller’s influential argument that psychologically driven volatility is an inherent characteristic of all asset markets.
In other words, Irrational Exuberance is as relevant as ever. Previous editions covered the stock and housing markets–and famously predicted their crashes. This edition expands its coverage to include the bond market, so that the book now addresses all of the major investment markets. It also includes updated data throughout, as well as Shiller’s 2013 Nobel Prize lecture, which places the book in broader context.
In addition to diagnosing the causes of asset bubbles, Irrational Exuberance recommends urgent policy changes to lessen their likelihood and severity–and suggests ways that individuals can decrease their risk before the next bubble bursts. No one whose future depends on a retirement account, a house, or other investments can afford not to read this book.
Step 4: Understanding How a Financial Collapse Might Take Place
|The Road to Ruin||The Road to Ruin – James Rickards
A drumbeat is sounding among the global elites. The signs of a worldwide financial meltdown are unmistakable. This time, the elites have an audacious plan to protect themselves from the fallout: hoarding cash now and locking down the global financial system when a crisis hits.
Since 2014, international monetary agencies have been issuing warnings to a small group of finance ministers, banks, and private equity funds: the U.S. government’s cowardly choices not to prosecute J.P. Morgan and its ilk, and to bloat the economy with a $4 trillion injection of easy credit, are driving us headlong toward a cliff.
As Rickards shows in this frightening, meticulously researched book, governments around the world have no compunction about conspiring against their citizens. They will have stockpiled hard assets when stock exchanges are closed, ATMs shut down, money market funds frozen, asset managers instructed not to sell securities, negative interest rates imposed, and cash withdrawals denied.
If you want to plan for the risks ahead, you will need Rickards’s cutting-edge synthesis of behavioral economics, history, and complexity theory. It’s a guidebook to thinking smarter, acting faster, and living with the comforting knowledge that your wealth is secure.
Step 5: Life Beyond The Nation State
|The Sovereign Individual||The Sovereign Individual – James Davidson
In The Sovereign Individual, Davidson and Rees-Mogg explore the greatest economic and political transition in centuries — the shift from an industrial to an information-based society. This transition, which they have termed “the fourth stage of human society,” will liberate individuals as never before, irrevocably altering the power of government. This outstanding book will replace false hopes and fictions with new understanding and clarified values.
Step 6: Enter Bitcoin – The Vision
This is the vision of Bitcoin as written by Satoshi Nakamoto himself in 2009. It is still available in its original version here: http://p2pfoundation.ning.com/forum/topics/bitcoin-open-source
Step 7: Bitcoin Whitepaper
There is no substitute for reading Bitcoin’s Whitepaper yourself. At least try to understand the basic ideas behind its proof of work, blocks creating a blockchain, decentralization, mining and supply limits with block halvings.
The reproduction of the whitepaper on this website has colored some of the illustrations. If you want to read the original PDF you can download it from our website here: Original Bitcoin Whitepaper
Step 8: Mastering Bitcoin
|Mastering Bitcoin||Mastering Bitcoin – Andreas Antonopoulos
Mastering Bitcoin is essential reading for everyone interested in learning about bitcoin basics, the technical operation of bitcoin, or if you’re building the next great bitcoin killer app or business. From using a bitcoin wallet to buy a cup of coffee, to running a bitcoin marketplace with hundreds of thousands of transactions, or collaboratively building new financial innovations that will transform our understanding of currency and credit, this book will help you engineer money. You’re about to unlock the API to a new economy. This book is your key.
This book will help you learn everything you need to know about decentralized digital money, which is one of the most exciting technical revolutions in decades. Just as the Internet has transformed dozens of industries – from media and entertainment to retailing, travel and many more – decentralized digital money, in the form of crypto-currencies, has the ability to transform the foundations of money, credit and financial services. It also has the power to transform other social activities and institutions that we don’t usually associate directly with money, such as corporations, governance, voting and the law.
If you know how to use Github you can also read this book for free at: https://github.com/bitcoinbook/bitcoinbook
Step 9: Additional Bitcoin Articles
Bitcoin Speculative Attack – What happens when fiat wages war against Bitcoin
Hyperbitcoinization – Likely Fast adoption of Bitcoin, rather than slow
The Complete Satoshi – All forum posts, code, emails written by Satoshi Nakamoto
Is now a good time to buy Bitcoin? – Ask yourself these questions
Step 10: Additional Bitcoin Videos
Currency Wars and Bitcoin’s Neutrality – Andreas Antonopoulos
Bitcoin 101 – Introduction to the Future of Money
Bitcoin Q&A: Divisibility and deflationary monetary policy
If you have any other suggestions for good books or videos about Bitcoin please post them below.