Economics

Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies

Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies

  • Downloads：3287
  • Type：Epub+TxT+PDF+Mobi
  • Create Date：2021-04-03 13:51:39
  • Update Date：2025-09-06
  • Status：finish
  • Author：Nik Bhatia
  • ISBN：1736110519
  • Environment：PC/Android/iPhone/iPad/Kindle
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Summary

In this fascinating deep dive into the evolution of monetary systems around the globe， Nik Bhatia takes us into the origins of how money has evolved to function in a "layered" manner。 Using gold as an example of this term， he traces the layers of this ancient currency from raw mined material， to gold coins， and finally to bank-issued gold certificates。 In a groundbreaking manner， Bhatia offers a similar paradigm for the evolution of digital currencies。 Bhatia's analysis begins in Renaissance Florence with the gold Florin coin and a burgeoning banking culture， continues with the evolution of central banking， and concludes with a vision for the future of our international monetary system。 As central banks around the world prepare to launch their own crypto-competitors， Bhatia illustrates how the invention of Bitcoin created a seismic shift in money and merged the monetary and cryptography sciences。 His unique analysis of "layered money" illuminates money markets for the general reader and shows how Bitcoin is becoming a trusted global currency。 Readers will come away with an understanding of the mechanics of our financial system， why the dollar is deeply entrenched despite its state of disrepair， and how Central Bank Digital Currencies （CBDCs） and cryptocurrencies will interact in our new monetary future。

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Reviews

Jason Dick ，

This book is interesting view into how and why Bitcoin may replace Gold as the backstop of the financial system。 Great insights with a wonderful way to conceptualize this transformation。

Daniel Murray ，

The Best Compact Explanation of Monetary History & BitcoinI’ve read about 10 books on Bitcoin and the history of money， banking，and Bitcoin。 This book is the most compact and clearly-written one I’ve read。 Highly recommended。

Alejandro Guariguata ，

Perfect sized book It gets to the point and explains spectacularly well how the current monetary system works。 Bitcoin isn’t even that large a part of the book but it doesn’t have to be。 Once you see how fragile the current system is it makes Bitcoin look like a much more attractive alternative

Roman Zadorozhnii ，

«Bitcoin is antifragile because it thrives off global monetary disorder within the dollar pyramid and is resilient to the threats， slander， and legislation from dismissive bureaucratic entities。 The plain truth about Bitcoin is that nobody controls it。 It has become the first-ever government-free， universally accessible digital currency。 And for these reasons， all currencies in the purely digital realm will face price discovery in BTC terms。 This means that all digital currencies， from cryptocur «Bitcoin is antifragile because it thrives off global monetary disorder within the dollar pyramid and is resilient to the threats， slander， and legislation from dismissive bureaucratic entities。 The plain truth about Bitcoin is that nobody controls it。 It has become the first-ever government-free， universally accessible digital currency。 And for these reasons， all currencies in the purely digital realm will face price discovery in BTC terms。 This means that all digital currencies， from cryptocurrencies to CBDCs， will be measured in BTC， just like the Bretton Woods agreement in 1944 mandated all currencies be measured in USD» 。。。more

Warren Mcpherson ，

This book uses a metaphor of a hierarchy of money to show the role bitcoin will play in a networked financial system。 This framework for thinking about different forms of money builds on the work of Perry Mehrlings that analyses the existing system。 I have long considered Merlings ideas to be critical for understanding bitcoin， this book makes the connection explicit。 While we all have a strong familiarity with money， virtually all "financial" analysis looks past money itself and we rarely spend This book uses a metaphor of a hierarchy of money to show the role bitcoin will play in a networked financial system。 This framework for thinking about different forms of money builds on the work of Perry Mehrlings that analyses the existing system。 I have long considered Merlings ideas to be critical for understanding bitcoin， this book makes the connection explicit。 While we all have a strong familiarity with money， virtually all "financial" analysis looks past money itself and we rarely spend much time examining what money is。 With only a superficial understanding of money， bitcoin is nonsense， and no explanation of the technology can change that。 This book envisions a new hierarchy for digital money and gives the reader a sense of how the pieces would relate to each other in a way that inevitably parallels the familiar system。For an example of how this will help， consider the number of times you have entertained comparisons of transaction rates of credit card systems to bitcoin。 It is pretty easy to sense how the comparison is not meaningful but it can be hard to say exactly why。 The hierarchy of money makes it obvious that bitcoin core never needs to be a credit card。The forward-looking material is a little more speculative and there is a good chance our understanding of these relationships will be refined in the future。 In particular， there is more than one legitimate thesis about what alternative currencies will hold value in the future。 There is also a very good chance the system will pick up significant complexity as it becomes a transmission mechanism for AI。 But even for developments beyond the scope of this book， the layering concept will be valuable and likely critical。This book does a great job of developing a clear system for understanding the money of the internet。 。。。more

John ，

A very clear & concise explanation of money creation throughout the layers of the banking system。 Starts with developments driven by the gold Florin， the Banks of Amsterdam & England， the rise of Gold and the United States dollar as the world's reserve currency， the supplanting of Gold by U。S。 Treasuries， and finally the emergence of Bitcoin as a new primary layer of money。 A very clear & concise explanation of money creation throughout the layers of the banking system。 Starts with developments driven by the gold Florin， the Banks of Amsterdam & England， the rise of Gold and the United States dollar as the world's reserve currency， the supplanting of Gold by U。S。 Treasuries， and finally the emergence of Bitcoin as a new primary layer of money。 。。。more

Andrew Schrader ，

Great overview and explanation of how money has historically worked， using the concept of layers rather than overly complicated models of assets vs。 liabilities on a balance sheet。 It’s a much easier way of visualizing the way money moves and who controls what in a monetary system。 Looking at money through this lens， it becomes easy to see how and why BTC became the first layer asset in a digital system — and why there can be no other。 My suggestion？ Be a first layer holder。 Own your own keys。 ✌ Great overview and explanation of how money has historically worked， using the concept of layers rather than overly complicated models of assets vs。 liabilities on a balance sheet。 It’s a much easier way of visualizing the way money moves and who controls what in a monetary system。 Looking at money through this lens， it becomes easy to see how and why BTC became the first layer asset in a digital system — and why there can be no other。 My suggestion？ Be a first layer holder。 Own your own keys。 ✌️ 。。。more

Reference

google book https://www.google.com/search?tbm=bks&q=Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies

hathitrust digital library https://babel.hathitrust.org/cgi/ls?q1=Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies&field1=ocr&a=srchls&ft=ft&lmt=ft

The British Library https://bll01.primo.exlibrisgroup.com/discovery/search?query=any,contains,Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies&tab=LibraryCatalog&search_scope=Not_BL_Suppress&vid=44BL_INST:BLL01&lang=en&offset=0