Saifedean Ammous is a Palestinian-Lebanese economist, engineer and professor, known worldwide for his interest in Bitcoin and the development of cryptocurrencies. His book The Bitcoin Pattern has become a must read to understand both digital and fiat money. Currently, Ammous is dedicated to teaching courses and conferences on economics, has a podcast and is an economic advisor in El Salvador, a country that uses bitcoin as its official currency.
1 What do we know about Saifedean Ammous?
Saifedean Ammous is a person who has kept a low profile on social media and other media, so we have little information about his personal life. However, we know that he was born in 1980 and was raised in Lebanon during the country's turbulent times, in the midst of the civil war. We can also say that he is an academic man who has been interested in train in different areas of knowledge: In 2003 he graduated in mechanical engineering from the Lebanese American University; Later, in 2004, he completed a postgraduate degree in Development Management at the London School of Economics. Finally, he completed a doctorate in Sustainable Development at Columbia University in the United States.
Saifedean Ammous is an academic man who supports the development of Bitcoin technology. On the other hand, has carried out extensive teaching work. He was a professor of economics at the Lebanese American University from 2009 to 2019. He currently teaches courses on the functioning of bitcoin and on the economic tradition of the Austrian school. In addition, it has a podcast called “The Bitcoin Pattern”, in which the topics taught in the courses are debated and discussions between students and guests are promoted. In 2018 he published his most popular book so far: The Bitcoin pattern: the decentralized alternative to central banks, which has been translated into 37 languages. Later, in 2021 he published The Fiat Pattern: Debt Slavery as an Alternative to Human Civilization, which is available in 12 languages. In 2023 he published his latest book titled Principles of Economics, a text that addresses the economic tradition of the Austrian school.
It is not the first book about Bitcoin
Some promote the book The Bitcoin Pattern as the first academic text on the subject, however, this is not true: Andreas Antonopoulos is an entrepreneur and professor who has been responsible for disseminating information about Bitcoin through easily accessible and understandable books. He is a renowned author with several important publications, including Mastering Bitcoin: Unlocking Digital Currencies (2014), Mastering Bitcoin 2nd Edition: Programming the Open Blockchain (2017), and Mastering Ethereum: Building Smart Contracts and dApps (2018). Currently, Ammous has an online academy where it offers its students a series of courses to learn about economics, fiat money and digital money. It is also possible to access his podcast, where he regularly brings together various guests and specialists on the subject. On the other hand, on his X account he remains an activist who seeks to raise awareness about the war in Palestine, while at the same time promoting the use of cryptocurrencies and the decentralization of money. He is also responsible for promoting his third book, Principles of Economics, and answering questions about its content.
2 What is the main focus of the book The Ammous Bitcoin Pattern?
In this book, Ammous conducts a comprehensive exploration of how Bitcoin technology works and its place in monetary history. It is a text that, in a simple and easy to understand way, brings together economic, technical and motivational aspects related to the Bitcoin world. In turn, Saifedean explains how this currency can be converted into a global settlement and value standardcontributing to a more equitable and prosperous world. On the other hand, Ammous proposes that, while bitcoin is not necessarily an alternative to gold, can function as a global reserve currency and “disrupt” the role played by central banking. In addition, the book reviews basic elements about the history of money, its investment and production, which helps to understand the birth of bitcoin as a revolutionary and decentralized option. According to Saifedean, it is important to know what money is and how it works in today's society in order to understand the advantages of having a digital currency in our modern economy.
One of the covers of the book “The Bitcoin Pattern”, extracted from the PDF.
What are Ammous's arguments in favor of Bitcoin?
One of the main aspects of Bitcoin that Saifedean defends in his book is decentralization. According to the author, this technology can operate without a central bank or without an authority that controls it. reduces the risk of manipulation and corruption.
Likewise, the author highlights that Bitcoin fulfills the traditional functions of money: it is a medium of exchange, it has a store of value and a unit of account. However, its resistance to censorship and its digital nature make it a suitable system for online commerce and international transactions. Ammous also highlights the importance of individual sovereignty, as Bitcoin allows people to have total control over your money, without the help of intermediaries. This promotes financial autonomy, which is very relevant in contexts of political and economic instability. On the other hand, he comments on the importance of blockchain technology, which offers a transparent and secure system to carry out transactions.
A book for everyone
The Bitcoin Pattern functions as a “general monograph” on money. It is a book that, through clear and simple language, acts as a useful learning method that allows you to digest more advanced concepts of economics and finance. In general terms, it is a pedagogical and entertaining text that can instruct non-experts and, at the same time, enrich specialists and bitcoiners.
3 What is the impact of “The Bitcoin Pattern” on the cryptocurrency market?
Ammous's book has become an essential work that allows you to know the transformative potential of Bitcoin. It is a text that has contributed to popularizing digital money as a concept, allowing it entry to a broader audience and not just technology enthusiasts. Likewise, the author provides legitimation by presenting Bitcoin not as a speculative investment, but as a reliable and solid alternative to the traditional monetary system. In short, Ammous has stimulated a broader discussion about monetary policies and the future of the economy. It is a book that generates a positive impact in the world of cryptocurrencies because stimulates the curiosity of the uninitiated and, on the other hand, it sets a precedent for future academic books. In addition, it works as a guide for those authors who wish to study the parameters and advantages of this technology.
Where can I download Ammous's book?
Saifedean Ammous's books, both the Bitcoin Pattern and the others, can be purchased on Amazon. It is also possible to buy them directly from their official website, where you have the option of requesting them in physical format. It is also available on platforms such as PlanetadeLibros, in case you wish to access the digital format.
4 How did Saifedean become an economic advisor for Bitcoin in El Salvador?
In 2023, Saifedean Ammous was appointed as economic advisor to the National Bitcoin Office in El Salvador. This means that the author offers advice on elements related to monetary policybut without obtaining remuneration, since Ammous refused to receive payment for his participation. In fact, the professor assured that his interests are purely ideological, since he wants to support the economic freedom policy that President Bukele intends to promote. In fact, in a conference held in early 2024, Ammous highlighted that using Bitcoin will allow Salvadorans to plan their future with greater confidence. Furthermore, he made a comparison with traditional fiat systems, where short-term profits are the ones that take priority, while digital money is oriented towards long-term sustainable prosperity.
The incorporation of the economist took place after a meeting between him and Nayib Bukele, which took place in May of that same year. Among the tasks that Ammous performs as an advisor is diagnosing, planning and Follow up on all projects related to bitcoin. Let us remember that El Salvador is a country where bitcoin is legal tender since 2021.
Stacy Herbert, Max Keizer, Saifedean Ammous and President Bukele. Source: Bitcoin Office.
Bitcoiners in El Salvador
As a curious fact, Saifedean Ammous is not the only one that provides advice in El Salvador; The authorities also have the presence of Max Keizer, a renowned Bitcoin promoter. Keizer was named presidential advisor on Bitcoin and since then he has dedicated himself to giving talks and answering questions related to this technology. Likewise, more informally we find Brock Pierce, co-founder of Theter and billionaire promoter of cryptocurrencies, who has also been present in the election of Bitcoin as legal tender in the Salvadoran country.
5 What are Saifedean Ammous's other books about?
The Fíat Pattern: a controversial text
After writing The Bitcoin Pattern, Ammous published his second book, The Fiat Pattern: Debt Slavery as an Alternative to Human Civilization, where he makes an exhaustive analysis of the traditional monetary system. In this text, the author makes a forceful criticism of the influence of governments and banking entities on the course of the global economy. Likewise, Saifedean talks about how government intervention has generated global distortions in the food, science and education sectors. Faced with this hyperinflationary collapse, the author proposes Bitcoin as a safe and revolutionary alternative. It is important to note that the book is not a unilateral attack against fiat money, as it also talks about its advantages and how these made it possible for this type of exchange to be adopted globally. However, times change and with them production methods; Bitcoin is an alternative more in line with the needs of the future.
Principles of economics: an entertaining and complete explanation
In this text, Ammous shows us the concepts, principles and methods of economics in a simple and easy to understand way. The focus of the book is primarily university and student-oriented, but may be useful to curious readers and professional economists. During his years as a professor, Saifedean realized that most economics texts They tend to be heavy and confuse more than they clarify; For this reason, he decided to make a book with digestible and easily accessible approaches, with a pleasant and youthful language that could already be perceived in his previous works. With this book, Ammous established himself as an international author and has captured the interest of academics, economists and avid readers.