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Network effect - same thing for Facebook. The more valuable bitcoin is the more secure and more resilient. Thus purely by price appreciation bitcoin is doing hi
by kwikiel 9y ago
Network effect - same thing for Facebook. The more valuable bitcoin is the more secure and more resilient. Thus purely by price appreciation bitcoin is doing hiperbitcoinization - once people realize that fundamental value of fiat currency is a myth, more fiat currencies will collapse
- 0bsidian 9y agoThis is exactly right. If you create a company and copy Facebook's code, the resulting company will not be worth as much as Facebook. Why? Because much of Facebooks' valuation derives from its network. Bitcoin is the same.
- notahacker 9y agoThe problem with being by design a fungible commodity is that your network lock-in isn't anywhere near as strong as Facebook's. Or AOL's...