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Bitcoin's Social Value
- Satoshi Nakamoto invented Bitcoin, a technology for sending scarce numbers.
- Its value comes from social acceptance, not inherent technology.
Dogecoin's Unexpected Success
- Dogecoin, a parody cryptocurrency based on the Doge meme, is now worth billions.
- This demonstrates how arbitrary tokens can gain value through social acceptance.
Copying Bitcoin's Code
- Copying Bitcoin's code doesn't replicate its value due to social coordination and network effects.
- Social acceptance and a large miner pool contribute to Bitcoin's legitimacy and security.