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The Evolution of Chess
Game theory says some games are designed for highly skilled players to evolve over time. In Bitcoin, the idea of indeterminacy or variance call it a dice. I like games that have some element entropy in there that it kind of shakes it up a bit and then works perfectly with Bitcoin.
One of the most important topics in Bitcoin is this idea of game theory and the mutually reinforcing incentives to keep the entire network balanced and beneficial to all participants. Preston Pysh and Scott Lindberg cover all sorts of interesting ideas around Bitcoin’s overall game theory on today's episode.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
02:30 - An overview of Game Theory.
12:53 - The critical difference between infinite and finite games.
23:21 - What Satoshi had to consider when designing Bitcoin from the start.
38:04 - What are some of Scott's favorite game theory aspects found in Bitcoin?
42:51 - How Scott designed a playable game around Bitcoin.
46:27 - The iteration process for designing games that are playable and balanced.
56:19 - How game designers account for skilled players playing a game with unskilled players.
01:03:28 - What Volatility does to a games design.
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