Game theory: how carefully engineered incentives turn the greedy nature of people into a useful tool for humanity.
Discussion
Good topic; the unstoppable clock that ticks in Bitcoins favor.
While I definitely agree and believe Bitcoin is the inevitable “winner” of this series of events set in motion 13+ years ago, there are so many facets to the game theory.
One that i am always focusing on is the attack vector that is shitcoining. Though truth and awareness typically always wins out (particularly in a society with free flow of information) there’s no denying the people that use ignorance of people to divert interest and capital away from Bitcoin.
What really striking is the difference in adoption between countries closest to the fiat spigot and those ravaged by the implications of fiat. Those who are proximal to the creation of fiat have (many times unrealized) financial privilege that blinds them from what true utility and decentralization is and means.
Circling back to your suggestion; one thing that drives the game theory of Bitcoin adoption is necessity.
In summation; the quote necessity is the mother of invention, or in this case adoption.
Actually I don't see shitcoining as an attack to Bitcoin more than gambling is an attack to the USD. It's rather an attack on people, temporarely diverting them from understanding true, sound, honest money. But this is more like a tuition fee at the University of Life, they will learn their lesson the hard way and probably will becoming more bitcoiners than others that were just lucky to have friends who guided them by hand directly to Bitcoin.
My take on the game theory is that rules are self enforcing and people being greedy and following self-interest are benefitting everyone, like for example miners. Bitcoin and the whole human race live in a super- symbiotic relationship, as individuals we can act according to our own will and altogether benefit the super-symbiont which is our society
Interesting and valid take. My thoughts align fairly well; I guess it depends on one’s perception of what the end goal is and what that can realistically look like.
It’s a spectrum; our predictions of and manifestations of the future.
Typically solidifying in some grey area between the two.
I think game theory is in effect as a sole result of Bitcoin being inherently sans-narrative. Any narrative that (temporarily) describes/addresses it is valid only in the minds and beliefs of the masses within the contemporary paradigm.
If we ever, as a global community accept Bitcoin as a standard we will have achieved throwing off the mandates and imbalances inherent in fiat; it’s important the reliance of fiat on narratives.