In the previous part of this story, I told you about the events that kicked off a book-reading frenzy and culminated with the publishing of my first book. This follow up article is more about the reading journey itself. I will share with you some of the books that helped me understand Bitcoin better and why I believe they are important.

The idea of writing a second part to my first article came to me when I had the chance to meet with Phil Champagne. Phil is the author of a great Bitcoin book called The Book of Satoshi, and he recently contacted me on Twitter. His message was as simple as it was encouraging; he complimented me for an interview I did a few weeks ago on Radio-Canada Première about my book. I was surprised that he wrote to me in French, since his book had been published in English. Throughout the conversation, I learned that Phil, who now lives in California, is actually from Quebec, just like me. This unlikely meeting of two Quebecer Bitcoin authors couldn’t limit itself to DMs on social media. We had to meet! I had so many questions, especially about the process that brought his book to fruition.

As Phil was passing through Quebec for a few weeks, we made time in our schedules to meet up in beautiful Bromont for lunch. 

We are both deeply fascinated by Bitcoin and quickly dove into the subject. Phil explained that he discovered Bitcoin in 2012, through his cousin, and he immediately felt that this new technology fit right in with the Austrian School of economics. When he looked at Bitcoin, he saw the principles of this heterodox school of economics finally being applied in the Information Age.

Listening to him, I realized how much our writing processes differed. We entered Bitcoin in two different eras, two very different realities. In 2012, learning resources about Bitcoin consisted only of writings by Satoshi Nakamoto him/herself, posts on specialized forums, the venerable Bitcoin Magazine as well as some videos on YouTube. It was fascinating for me to hear Phil describe the resources he used in his writing process. It also made me think that some people could be interested in hearing about the resources I used for my writing process.

Obviously, when I got into Bitcoin in 2018, there were a lot more resources available, making it a much easier to get educated on the subject. A lot of quality information was available, on multiple platforms; notably in the form of books, podcasts and articles. I thought it would be a good idea to share my thoughts about the resources I used, like Phil shared his information gathering journey with me.

The Bitcoin Standard

This book by Saifedean Ammous, The Bitcoin Standard, is what started it all for me. In order to understand Bitcoin, it’s important to understand money first, to which much of the text is dedicated to explain. Unlike Phil, who was already acquainted with the Austrian School, my introduction to that economic theory was provided by the writings of Ammous.

This revelation, of what money really is, as well as how much damage was wrought by monetary devaluation throughout history, grew into a thirst for more knowledge. 

Mastering Bitcoin and Programming Bitcoin

After The Bitcoin Standard, it was essential for me to understand Bitcoin on a technical level. To do so, I leaned on the good old book Mastering Bitcoin by Andreas Antonopoulos. An excellent read, perhaps the best to perfect one’s knowledge about how Bitcoin works. However this isn’t something I’d recommend to beginners. We’ll come back to that. Besides this long, interesting (and sometimes intimidating) read, I dove into what I consider the next step: Programming Bitcoin by Jimmy Song. It was a lot of fun to go over everything I’d learned in Mastering Bitcoin but from a programmer’s POV. Essentially, the goal of Programming Bitcoin is to literally rewrite the code of Bitcoin in Python. Not a book for everyone, but still very instructive for a developer like me.

Inventing Bitcoin

And so, after having churned through the two Bitcoin “bibles”, I could move on to THE book to understand how Bitcoin works, Inventing Bitcoin by Yan Pritzker. Clocking in at around 100 pages, it goes through everything you have to know about Bitcoin and how it works. Yan presents the subject in an accessible way for everyone, and I strongly recommend that you read it!

What Has Government Done To Our Money?

Having laboured past the inner workings of Bitcoin, I was still only at the beginning. I knew what a good currency looked like, but I hadn’t mastered the subject of State-issued currencies and how they were used. One of the first books on my list for that part of the “curriculum” was a title that often came up in the book recommendations of bitcoiners: What Has Government Done to Our Money? By Murray N. Rothbard. An excellent introduction to the world of State currencies.

The Case Of Zimbabwe

By that point, my head was full of scenarios derived from State-issued currencies. One thing led to another and I read three books in a row on hyperinflation in Zimbabwe. I challenge you to read any one of those books and tell me that Bitcoin’s value is based on nothing. This was a very enjoyable part of my Bitcoin research. Two of the books being true accounts, they left me daydreaming about the exotic wildlife in Zimbabwe, not to mention the heat at the border with South Africa and chaotic dirt roads, for two months straight. But to go back to our topic, these first-hand accounts about the horrors of hyperinflation make us ponder why we left the Gold Standard in the first place. Especially for countries with weak currencies, State-issued money isn’t always the best idea.

The Price Of Tomorrow

But I didn’t stop there. Next was The Price Of Tomorrow by Jeff Booth. This one fascinated me. Long story short, Jeff predicts that because of technological advances, our future is deflationist by default, meaning central banks won’t be able to artificially maintain inflation forever. Jeff describes how the current system is fuelled by debt and easy credit. A must-read to grasp the cost (in accumulated debt) of our current economic system’s need for perpetual growth!

The Lessons Of History

The following book on my list is The Lessons Of History by Will and Ariel Durant. This book was recommended to me on Twitter (like most of the books in this article). A short but incredibly interesting read. People often say that history repeats itself. Personally, I had the strange impression that reading this book would help me predict the future! In the end, though, I discovered interesting correlations, notably between war and religion, availability of food, education and birth rates, but also between the advantages of certain geographic traits and technological advances, the evolution of moral codes and the transformation of economic systems. Reading this book obviously won’t give you the power to see the future, but it teaches us about what changes over time and what tends to remain constant.

Layered Money

Probably the most important book on my list. Layered Money by Nik Bhalia is THE book about Bitcoin with the most content on money systems in history. If monetary history interests you, this is the book for you. However, it’s also a book that lays out a plan of monetary evolution with Bitcoin as the unit of measurement. Reading this work will allow you to imagine in a credible way a world where Bitcoin is the world’s reserve currency.

The Blocksize War

This is the book I finished reading most recently: The Blocksize War by Jonathan Bier. What this book contributed to my life and my “bitcoiner” condition is remarkable. It gave me all I needed to know to understand the importance of this mad era in Bitcoin’s history, as well as better appreciate its impact on the current ecosystem. The author gave quite the gift to bitcoiners like me, who joined the movement after 2017. If it interests you to know how a small group of cypherpunks stood up to the corporate interests that attempted to take control of Bitcoin, don’t hesitate to pick up this book.

Honourable Mentions

I read several other books on Bitcoin. Notably, 21 Lessons by Gigi, The Little Bitcoin Book, Bitcoin: Sovereignty Through Mathematics by Knut Svanholm, The Book Of Satoshi by Phil Champagne, Why Buy Bitcoin by Andy Edstrom and Bitcoin Money by Michael Caras. Some of them taught me the importance of Bitcoin and how it would change the world, others informed me on its origins, and some refreshed my memory on what makes a good currency. I recommend them all!

Conclusion

People often ask me on Twitter: what is my conclusion after reading all these books? My answer is always: “I had to write a book!” Yet I didn’t write a book because my conclusion was long or complex. Much to the contrary, my conclusion about Bitcoin was very simple: Bitcoin has all it needs to become the next world reserve currency. What motivated me to write was reflecting on an extensive research process. As I mentioned at the beginning of this article, compared to 2012, when Phil Champagne wrote his book, my learning path was much simpler given the quality of materials available in 2018. The drawback was that I had more blind spots in my understanding of Bitcoin, which pushed me to do research and read many works on three subjects: the history of money and its characteristics, how blockchains work and, especially, how State currencies work.

Tout sur Bitcoin

Hence my book, Tout sur Bitcoin (Everything about Bitcoin). The goal is to introduce you to these three subjects in a format and a way that remains accessible to all. It will give you the basics, so that you can go on your own learning paths with the books that are recommended to you in my book, and in this article. English translation is in progress, coming soon!

Translated by Jonathan LeBlanc