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In this video I look at Bitcoin as a Schelling Point or Focal Point. I walk you through what a Schelling Point is and how it relates to a Nash Equilibrium and why Bitcoin will earn this status by replacing gold. This is one of the many game theoretic concepts that can be applied to Bitcoin.
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Sources:
On Schelling points, network effects and Lindy: Inherent properties of communication - Willem Van den Bergh:
/ on-schelling-points-ne...
Willem Van den Bergh on Twitter:
/ willem_vdbergh
Game Theory 101: Focal Points - William Spaniel:
• Game Theory 101: Focal...
Schelling Point: Cooperating Without Communicating - Naval Ravikant:
• Schelling Point: Coope...