Saifedean Ammous is an economist and a best-selling author. His book “The Bitcoin Standard” is one of the most well-known books about Bitcoin. Published in 2018, The Bitcoin Standard has been translated into 38 different languages, with over 1 million copies sold.
Saifedean Ammous was born on October 24, 1980, in Lebanon, and grew up during the times of the Civil War. Based on his LinkedIn account, Ammous holds a bachelor’s degree in Mechanical Engineering from the American University of Beirut, a Master's in Development Management from the London School of Economics, and a PhD in Sustainable Development from Columbia University.
Starting his professional career as a teaching assistant at Columbia University in 2005, Ammous was then promoted to the role of instructor and also held the position of Visiting Scholar at the University’s Center on Capitalism and Society. From 2009 to 2019, he worked at the Lebanese American University as a lecturer in economics, assistant professor, and associate professor.
In 2019, he left the institution to start his website Saifedean.com and The Bitcoin Standard podcast, where he discusses Bitcoin and broader economic sentiments with guests. Along with this, Ammous offers online economics courses and holds seminar discussions. In May 2023, he joined the National Bitcoin Office of El Salvador as an Economic Adviser to provide advice on the country’s economic policies.
Starting his professional career as a teaching assistant at Columbia University in 2005, Ammous was then promoted to the role of instructor and also held the position of Visiting Scholar at the University’s Center on Capitalism and Society. From 2009 to 2019, he worked at the Lebanese American University as a lecturer in economics, assistant professor, and associate professor.
In 2019, he left the institution to start his website Saifedean.com and The Bitcoin Standard podcast, where he discusses Bitcoin and broader economic sentiments with guests. Along with this, Ammous offers online economics courses and holds seminar discussions. In May 2023, he joined the National Bitcoin Office of El Salvador as an Economic Adviser to provide advice on the country’s economic policies.
Saifedean Ammous’s Books and Views on Economics and Bitcoin
Saifedean Ammous is an advocate of the Austrian School of Economics, according to which people, not governments, create markets and should make economic decisions.
Talking about his economic beliefs in an interview with Lex Fridman, Ammous said:
I consider myself an Austrian school economist and the starting point of all Austrian economics is that all value is subjective. So obviously, you know, value only exists because humans choose to make the valuation.
Austrian theorists put great emphasis on financial freedom and are against inflation and government-printed money.
These principles align with the concept of Bitcoin, which was created in 2009 as electronic money that functions without central authorities. Saifedean Ammous is a Bitcoin maximalist who has previously criticized Ethereum (Ether) and other altcoins. He argues that Bitcoin’s technology, particularly the Proof of Work consensus mechanism, provides a new form of money in a most secure and decentralized way.
In his first book, The Bitcoin Standard, Ammous discusses how money standards have changed over the last 100 years, transforming from the silver standard to the gold standard and then to fiat currencies. The author covers the reasons behind these changes in monetary systems, stating that, for example, during the 19th century, the world was on the gold standard. At that time, the precious metal served as money or backed government currencies because it is durable and cannot be destroyed. However, as gold became increasingly scarce with concentrated reserves, governments faced economic challenges and switched to a printed money system.
Referring to fiat money in the book, Ammous mentions inflation and centralization issues and suggests that Bitcoin could become the new global monetary standard due to its limited supply and decentralization.
Ammous’s next book after The Bitcoin Standard is The Fiat Standard, which was published in 2021 and has been translated into 24 languages. The book discusses the origin of the fiat monetary system and how it works. On his website, Saifedean.com, the economist mentions that while The Bitcoin Standard explains Bitcoin’s essence and its potential social and economic implications, The Fiat Standard examines current monetary technology and “its many modes of failure”.
In 2023, Saifedean Ammous presented two new books: Principles of Economics and Fiat Food, co-authored with journalist Matthew Lysiak. Principles of Economics covers fundamental concepts, including the Austrian approach and the role individuals play in the economy. Fiat Food, on the other hand, is written in an investigative style, discussing the impact of fiat currencies on the food and health industries and highlighting their deep connection to broader economic systems and their influence on society. Diving into the topic, the authors explain how decentralized systems, like Bitcoin, could offer solutions for reclaiming autonomy.
Saifedean Ammous’s Personal Life and Hobbies
From his public posts, it is known that Ammous’s father is a surgeon who has worked in various places facing crises and severe conditions. In one of his podcast episodes, the economist interviewed his brother Ahmad Ammous, a medical doctor and Bitcoin enthusiast, to discuss issues in modern medicine.
On a personal note, Saifedean Ammous is married to Afkar Barakeh and has a daughter named Jasemina. His hobbies include playing and watching football, as well as grilling.
Anahit Avetisyan
Author
Web3 writer and crypto HODLer with a keen interest in market trends and recent technologies.
