Yes, I would agree that #Bitcoin could develop into a widely accepted form of payment under the framework of game theory.
Nash equilibrium: No actor can change their strategy without incurring a disadvantage. In this case, the Nash equilibrium for #Bitcoin could mean that it is accepted as a widely recognized form of payment because:
1. Most actors cooperate: Most actors, including governments, institutional investors, and consumers, cooperate and accept #Bitcoin as a form of payment.
2. The costs of defection are high: The costs of defection, i.e., refusing to accept #Bitcoin as a form of payment, are high because this could lead to a loss of competitiveness and a decrease in market value.
3. The benefits of cooperation are great: The benefits of cooperation, i.e., accepting #Bitcoin as a form of payment, are great because this could lead to an increase in efficiency, security, and transparency of transactions.
In this scenario, #Bitcoin could be accepted as a widely recognized form of payment because it meets the needs of most actors and the costs of defection are high. This would mean that #Bitcoin fulfills the three main functions of money:
1. Medium of exchange: #Bitcoin is accepted as a medium of exchange to buy goods and services.
2. Store of value: #Bitcoin is accepted as a store of value to store and transfer value.
3. Unit of account: #Bitcoin is accepted as a unit of account to measure prices and values.
Overall, the game theory shows that #Bitcoin could be accepted as a widely recognized form of payment under certain conditions, if most actors cooperate and the costs of defection are high.
#BITCOIN IS π― SOUND MONEY