Author Archives: Saifedean Ammous

A Beginner’s Guide to Austrian Economics

For years I had noticed how some of the smartest people I know all tell me that they find economics very difficult to understand. Doctors, engineers, businessmen, and many other highly intelligent people would all share a similar story: “I took a few economics courses in college and did well, but I didn’t understand anything/forgot […]

The Bitcoin Standard Book Tour Schedule

This Friday, Vienna will be the host of the first event on my book tour. A preliminary schedule is posted below, more dates will be added as they are confirmed. Vienna, May 18, at Capitalbank, Palais Esterházy Zurich, May 23, organized by Bitcoin Switzerland Association, at the Volkshaus. Munich, May 29 at MaibornWolff GmbH Paris, May 30, at Accenture Boston, MA, June […]

Cryptocurrencies and the functions of money

I have a new working paper for the Center on Capitalism and Society analyzing whether cryptocurrencies can perform the three traditional functions of money. The paper’s abstract: This paper analyzes five cryptocurrencies’ monetary supply growth, credibility, and stability, to evaluate whether these currencies have a viable monetary role as a medium of exchange, store of […]

The “blockchain technology” fiction

Four months ago I published a piece in American Banker discussing the strangely trendy topic of “blockchain technology”, in which I explain my skepticism of the entire notion that “the technology behind bitcoin” could serve any useful function for the financial intermediaries it was specifically designed to replace. Bitcoin’s technology is as useful to the banks trying […]

Academic Paper on bitcoin

Last year I published an academic paper in the Journal of Private Enterprise analyzing the economics of Bitcoin. Looking back, the parts of the paper with the most relevance today are the ones explaining the functioning of the bitcoin block-chain and the economics of the currency. Recent events make me think the discussion of smart contracts was […]