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Topic: Bitcoin hyperadoption is inevitable if you understand game theory. - page 2. (Read 1855 times)

hero member
Activity: 770
Merit: 504
Welcome and thanks for your post. I too believe that bitcoin is the future of the financial industry and I am happy to be apart of the process so early on.
 
That was my mistake.  I watched bitcoins explode in their 2013/14 bubble and inwardly thought, "Damn.  I missed that boat.  I wish I hadn't of dismissed those things when I heard about them in 2011..." 
 
But on the outside I hated... and tried to poke holes in the protocol and the idea... but the longer I did, the more I learned and realized that I was wrong.  Bitcoin is one of the greatest technological advances in the history of mankind. 
 
And now, seeing the price crash so low has made me a believer with a time-sensitive passion.  I have seen this before.  In my years on the stock market I have seen the dark nights before the dawn, and I now recognize the patterns involved. 
 
The fear and worry don't phase me.  If bitcoins dropped to $50, I'd just buy more.  Because this is more powerful than any stock.  The deflationary nature is downright explosive as a store of value, and anything less than moon is cheap as long as the faith in the protocol is increasing.
hero member
Activity: 770
Merit: 504
OP has nothing to do w game theory.

Only thing inevitable is that if crypto currencies becime mainstream it won't be bitcoin
 
 
Ahh, you are wrong. 
 
Game Theory, especially in mass involves predicting the movements of the masses before they are able to understand it themselves.  You have to analyze WHY a lemming would do something, and get there first.  Those who saw this pattern with Google, the original iPhone, Netflix, etc etc etc made tremendous amounts of money. 
 
Bitcoin is the same.  It's something the common man desperately needs, but doesn't realize it yet.  The winning move is to heavily attack it, early. 
 
In poker (another bastion of game theory), there are four play styles but only tight and aggressive wins.  Investing and successful speculation are no different.  You hold your chips tightly (don't bet on every single opportunity) but when a good opportunity comes, you ATTACK it hard (i.e. bitcoin). 
 
As for bitcoin not being the winner of the crypto battles, you fail to understand the value of the blockchain and established brand.  This isn't an issue of MySpace and dodos... this is an issue of why an Internet 2.0 never took off. 
 
bitcoin has the largest and longest ledger.  It has the largest market cap.  Those things won't be uprooted, and I think at this point even those in power can't do it.  It's like a super virus that will keep mutating, similar to how torrents and the pirate bay can't be shut down effectively. 
legendary
Activity: 2464
Merit: 1145
bitcoin has alot of advantage as the first mover with its network effect but i would not say it is inevitable that bitcoin will be adopted from the mass.
( i'm actually more and more inclined to say that bitcoin (probaly) will be adopted by the richer part of society)
blockchaintech though will definitely be adopted in transaction and consesus systems.
legendary
Activity: 1260
Merit: 1000
World Class Cryptonaire
Welcome and thanks for your post. I too believe that bitcoin is the future of the financial industry and I am happy to be apart of the process so early on.
hero member
Activity: 784
Merit: 500
OP has nothing to do w game theory.

Only thing inevitable is that if crypto currencies becime mainstream it won't be bitcoin
hero member
Activity: 770
Merit: 504
I run http://www.reddit.com/r/gameofmoney,
,
a subreddit dedicated to pursuing game theory, finance, behavior, and cryptocurrencies.  Grin
 
I have been criticized repeatedly for being too bullish on bitcoin, and sometimes people try to hold my past experiences against me, but these are dismissible trolls.  Bottom line, I formally studied computer science, and have pursued psychology and the stock market for years now.  And I can clearly see the future of crypto. 

Those of us who grew up in the nineties and watched the internet disrupt the world have seen it before.  Both the internet and bitcoin are and were unwanted communication juggernauts by those who were unprepared for them.   
 
The funny thing is, the ones who fought hardest against the internet were the ones who faced a loss of power due to it.  Newspapers, the RIAA, and others who acted as gatekeepers of information hated the thought they would be replaced with sites like this one.  They hated the idea that people would freely share information without them, including news, songs, ideas, etc. 
 
We aren't out of that evolution yet and are still seeing the explosion of this concept.  Governments are still reeling from the realities of a full blown information age where they have to astroturf and manipulate information instead of outright controlling it. 
 

 
Enter bitcoin and cryptocurrency.   Huh
 
Except it disrupts money, not communication. 
 
We saw it happen as we grew up, and we tried to tell the 'adults'.  "The internet will change everything!  In the future..." and we got a fucking pat on the head and were told to stop tying up the god damn phone lines with those noises. 
 
To be fair, most of us were just trying to download naked women line by line anyway, but we still saw the possibilities and future of the technology. 
 
"I'll wait for bitcoin 2.0" 
 
Just like you're waiting for internet 2.0, right?  Consensus and first to market are powerful, especially for decentralized technology.  The reason MySpace went the way of the dodo is because it was a centralized system that was replaced by a *better* centralized system, Facebook. 
 
Bitcoin as a store of value and information won't be replaced.  It can be complimented by other crypto, which is why I also believe in Dogecoin, but it won't be replaced any time soon.  Every day that blockchain ledger exists it grows more valuable.  I recently embedded a poem and declaration in it and that will persist for the rest of time.  That's how powerful the blockchain is. 
 
And trolls, haters, and PR firms hired to disrupt bitcoin online would have you believe that in the future it will go to zero.  **No**.  It cannot.  Math and psychology won't allow that. 
 
It already has too strong of a foothold and its viral nature is causing it to explode like a meme, the same way that other innovations in finance have exploded in popularity.  The progression is clear: 
 
Trade & Barter -> Money -> Banking -> Interest -> Bonds -> Stocks -> Derivatives -> Cryptocurrency      Wink
 

 
All roads lead to cryptocurrency, and whether you like it or not, it's coming and it will change everything.  You can't fight an idea this strong, and the only solution is to adapt.  We learned the hard way we couldn't fight the internet... will those in power really be so stupid this time as well? 
 
Fortunes will rise with the rise of cryptos, same as any other disruptive technology.  And I'm going to be there, on board the train as we head to space.  I've watched from the sidelines as bitcoin soared and been that hater who said, "This is stupid" but what I really wished deep down was that I hadn't been such a doubter to begin with and had gotten on the train earlier. 
 
Well no more.  That's why I'm ferociously pro-crypto now.  I studied computer science for many years so I know the technology is sound.  I have studied psychology for many more so I understand the mindset of people and why adoption curves happen (and how the only way to beat them is to get on board with promising new ideas quickly while they are still 'dumb'), and I understand the internet because I've lived through the rise of it. 
 
This is wisdom folks.  This is the Game of Money.  And crypto is going to be a winner.   
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