Enrico on Nostr: Bitcoin is not a piece of software or a product like a car or a "Facebook", Bitcoin ...
Bitcoin is not a piece of software or a product like a car or a "Facebook", Bitcoin is a protocol and more importantly an idea: the idea of digital scarcity. You cannot improve absolute digital scarcity because that's already *the* thing. The software we run is just a means to achieving such absolute digital scarcity and certainly can be improved and that's why we have development happening and new ideas coming up. Those are "new" bitcoins that by social consensus become "Bitcoin", the Schelling point in game-theory terms. But your friend refers to a different, incompatible token I guess. How would it be better? Faster? Cheaper? More secure? Well these all could fall in the "improvement" category but the real question would be "would it more absolutely scarce?", I believe it could not be "more" scarce, so at best it would be "as scarce as" so it would simply candidate to be the next evolution of Bitcoin and at that point it will be the market deciding it's faith, would bitcoiners elige this "equivalently scarce" token as the replacement to Bitcoin? I doubt, they wouldn't have the incentive for that. So it would need to be the non-bitcoiners jumping on that bandwagon to build more critical mass than Bitcoin but can you imagine that happening with all the network effect, projects, investments, brand recognition and deeply committed people that Bitcoin has? And for something that's at best as scarce as? That's a very remote chance, that's how I see it, you decide for yourself like everyone: self responsibility about your future and your wealth
Published at
2023-07-19 09:44:44Event JSON
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"content": "Bitcoin is not a piece of software or a product like a car or a \"Facebook\", Bitcoin is a protocol and more importantly an idea: the idea of digital scarcity. You cannot improve absolute digital scarcity because that's already *the* thing. The software we run is just a means to achieving such absolute digital scarcity and certainly can be improved and that's why we have development happening and new ideas coming up. Those are \"new\" bitcoins that by social consensus become \"Bitcoin\", the Schelling point in game-theory terms. But your friend refers to a different, incompatible token I guess. How would it be better? Faster? Cheaper? More secure? Well these all could fall in the \"improvement\" category but the real question would be \"would it more absolutely scarce?\", I believe it could not be \"more\" scarce, so at best it would be \"as scarce as\" so it would simply candidate to be the next evolution of Bitcoin and at that point it will be the market deciding it's faith, would bitcoiners elige this \"equivalently scarce\" token as the replacement to Bitcoin? I doubt, they wouldn't have the incentive for that. So it would need to be the non-bitcoiners jumping on that bandwagon to build more critical mass than Bitcoin but can you imagine that happening with all the network effect, projects, investments, brand recognition and deeply committed people that Bitcoin has? And for something that's at best as scarce as? That's a very remote chance, that's how I see it, you decide for yourself like everyone: self responsibility about your future and your wealth",
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