“Layered Money” By Nik Bhatia – Bitcoin Magazine

“Those willing to accept bills and other forms of deferred settlement demonstrate to us that money is fundamentally hierarchical. If a merchant demanded gold payment upfront for the delivery of goods, it was his right to do so. But if another merchant accepted a bill that represented a promise to pay gold later, his willingness to defer final settlement is proof alone that the layers of money are not a construct of bankers but immanent in the human tendency to keep tabs with each other.”

Nik Bhatia, “Layered Money: From Gold And Dollars To Bitcoin And Central Bank Digital Currencies”

With publishing numbers on the rise, the market is filled with far too many books that are heavier than they are useful. But Nik Bhatia’s “Layered Money: From Gold And Dollars To Bitcoin And Central Bank Digital Currencies,” published on January 18, 2021, bucks this trend by densely packing insights about the monetary system into fewer than 200 pages.

Layered Money” is a paradigm-shifting book that provides an intuitive mental model with which to view the history, evolution and future of money. Concepts such as M1 vs. M2 money supply, treasury repo markets and eurodollars can be quite difficult to understand for lay people and “experts” alike. In “Layered Money,” Bhatia consistently turns these intimidating concepts into approachable knowledge with concise explanations and examples. In the end, the reader is left with a comprehensive understanding of why money is inherently hierarchical, the fragilities that exist within the current monetary infrastructure and how Bitcoin may provide the antifragile solution that humanity needs.

The central premise of “Layered Money” is to provide a new paradigm with which to view the concept of money. This approach aids the reader in understanding the increasingly complex monetary systems that humans have been building for centuries.

Readers who would find it difficult to dive…

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