Mark Yusko - Game Theory & Bitcoin: The Global Race No One Sees Coming

[@cryptoviewtoday]

Do you agree with Mark about the future of Bitcoin?

[@bella007adb]

Problem is that it’s not scarce. You can fork it and create an exact copy with added features. You can’t do that with gold. BTC is valuable because of network effect from first mover advantage and the greater fool theory.

[@khialaaloocompany590]

How does that make Bitcoin less scarce? You can fork all you want but if none of the nodes or miners move over to it, all you have is some code.

[@bella007adb]

@ a fork is functionally the same. It achieves all the properties and functions of Bitcoin, with potential improvements, eg Bitcoin cash. Now imagine a situation where all the gold in the world is replicated immediately but with some improvements. What would this do to the value of gold? Would people migrate to the new and improved version of gold. As I said the value of btc lies in its network value ie miners and nodes not in its scarcity.