The Bitcoin-Dollar: An Economic Monomyth

by Mark Goodwin

Money is a technological tool that communicates settlement between parties. The ultimate goal of money is to transmit trust within context, typically over time and over space. The distinction of the need for value settlement between time and space has allowed for a separation between commodity and currency. The dollar has arguably been the closest we have seen to succeeding at both of these tasks until the launch of Bitcoin at the start of 2009. The transitional period we are about to experience is simply the current iteration of an eternal concept of humans and money – an economic monomyth. If this book could have been written without using the words dollar or bitcoin, it would have. Yet an economic system that grows and regulates itself purely by the actions of its participants and not its rulers is a distortion of the status quo. Bitcoin is a state change of money, settlement, and economic policy that takes us out from underneath the poles of the currency and commodity dichotomy.


“In a world where money is abundant, you will find your freedoms are not. Consider the implications of The Bitcoin-Dollar.”
—HodlMagoo, Bitcoin Nym

“A sobering look at how Bitcoin could evolve to interact with our wider financial system, without the ‘Number Go Up’ noise or cultish certainty of predestined domination.”
—Shinobi, Bitcoin Researcher and Author

“A novel meditation on the implications of a world defined by competing Bitcoin, crypto, and fiat financial systems, Goodwin’s book is a timely addition to the canon. More than ever, Bitcoin is distinguishing itself as the world’s first apolitical money, and Goodwin is among the few writers exploring the implications of this powerful transformation.”
—Pete Rizzo, Bitcoin Historian at Bitcoin Magazine

“Mark Goodwin’s The Bitcoin-Dollar comes at a critical time in Bitcoin’s existence now that it has pierced the firmament of the mainstream. Chock full of easily recallable quotes from the likes of John Nash and Jorge Luis Borges, his book serves as a call to action by asking questions and providing potential answers for how Bitcoin might work in a world where the U.S. dollar will continue to exist. Goodwin achieves this through a smart, succinct dive into the idealism of Bitcoin and pairs it with a balanced, realistic view of the world that is sorely lacking elsewhere. Mandatory reading for the learned Bitcoiner and will remain on my desk for the foreseeable future.”
—George Kaloudis, Senior Research Analyst at CoinDesk

“The Bitcoin-Dollar gives an incredible overview of why Bitcoin won’t replace the U.S. dollar system but will become the dollar system. A must-read for anyone interested in finance, economics, and the future of democracy.”
—L0la L33tz, Author and Privacy AdvocateMark Goodwin is an author, journalist, photographer, and the current Editor-in-Chief of Bitcoin Magazine. Goodwin has been publicly in the Bitcoin space since 2017, and began writing for Bitcoin Magazine in 2021. Originally from Massachusetts, Goodwin has spent the last decade in the Bay Area, and when not at his desk can be found walking his dog or performing in various musical outfits.

Genres: Economics

222 pages, Kindle Edition

Published November 12, 2023

About the author

Mark Goodwin is a Christian author and host of the popular Prepper Recon Podcast which interviews patriots, preppers and economists to help people prepare for the uncertain times ahead. His previous fiction series, The Days of Noah spent several months at number one on the Amazon best-sellers list in multiple categories. His first series, The Economic Collapse Chronicles, also hit the Amazon best-sellers list in several categories.

Reviews

[Raul Valdez · Rating 4 out of 5]

The Bitcoin-Dollar: An Economic Monomyth by Mark Goodwin offers a comprehensive exploration of Bitcoin’s integration into the global financial system. Here’s a balanced assessment of its strengths and weaknesses:

5 Reasons The Bitcoin-Dollar is worth a read:
1. In-Depth Analysis: Goodwin provides a thorough examination of Bitcoin’s role in the financial landscape, offering readers a nuanced understanding of its potential impact.
2. Historical Context: The book traces the evolution of money, highlighting the transition from traditional currencies to digital assets like Bitcoin, which enriches the reader’s perspective.
3. Technical Clarity: Complex concepts related to blockchain technology and cryptocurrency are explained in an accessible manner, making the subject approachable for a broad audience.
4. Future Outlook: Goodwin discusses potential scenarios for Bitcoin’s future, considering both opportunities and challenges, which provides a balanced view of its prospects.
5. Engaging Narrative: The author’s writing style is engaging, combining scholarly analysis with storytelling, which keeps readers invested in the material.

5 Reasons The Bitcoin-Dollar May seem lame:
1. Perceived Bias: I found the book overly optimistic about Bitcoin’s future, potentially overlooking significant risks and challenges.
2. Limited Critique: Goodwin may not sufficiently address the criticisms and potential downsides of Bitcoin, such as regulatory hurdles and environmental concerns.
3. Repetitive Themes: Certain concepts are reiterated throughout the book, which could lead to redundancy and affect the pacing, this got boring.
4. Assumed Knowledge: While technical aspects are explained, the book occasionally assumes a level of prior knowledge that might be challenging for newcomers to the subject.
5. Lack of Diverse Perspectives: The narrative primarily reflects a pro-Bitcoin viewpoint, potentially neglecting alternative perspectives within the cryptocurrency discourse.

Overall, The Bitcoin-Dollar offers valuable insights into Bitcoin’s potential role in the financial system but may benefit from a more balanced exploration of its challenges and criticisms.

[Mark Berger · Rating 3 out of 5]

Early chapters that describe the U.S. Treasury replacing Federal Reserve Notes with bitcoin backed bonds and currency were useful. The rest of the book, not so much.