How do you perceive the evolution of #money in the context of #Bitcoin?
Is #Bitcoin merely a #cryptocurrency, or does it represent a fundamental shift in how we understand #value and exchange?
#v4v #askNostr
Discussion
Moves the monetary aspect away from state control, exchange for the longest time has been under control by governments and is susceptible to any policies they deem fit.
Offers everyone a chance at equal access and ownership of their value, there is no centralized figure to marginalize others as it's all V4V and peer to peer.
Still grapple over the energy costs of Bitcoin and how it makes it unfair for some without the access to this energy, ultimately it will depend on those already in the space and how they treat the peer to peer V4V system.
Fundamental shift.
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 💯 SOUND MONEY
солнышко светит как ядерный взрыв ... и так каждое утро))))
I confirm that it is the added value that saves the financial state from all sovereignty.
Money tends towards 1