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#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
Lex Fridman Podcast
Is Bitcoin the Superior Technology?
Bitcoin is considered superior to other cryptocurrencies like Ethereum, Bitcoin Cash, and other hard forks due to its pragmatic truth perspective. The argument is that money's value is derived from its liquidity and network effects, making it a winner-takes-all market. New entrants into the money market are incentivized to choose the currency with the deepest liquidity and the most network effects. Bitcoin's attributes of inflation resistance, liquidity, and network effects position it as the digital equivalent of gold, implying that there is likely to be only one digital gold in the market. The Bitcoin Cash fork serves as a case study supporting this argument by demonstrating that despite having similar properties to Bitcoin, Bitcoin's superior network effects make it the preferred choice in the digital currency space.
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