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Why does Bitcoin have value?
Sure, It has a monetary policy enforced by law (code), but people often forgets that software is a social endeavor.
I started designing a model to solidify the understanding of the organizational dynamics of Bitcoin.
1/10 https://bit.ly/bitcoinamphibious
Sure, It has a monetary policy enforced by law (code), but people often forgets that software is a social endeavor.
I started designing a model to solidify the understanding of the organizational dynamics of Bitcoin.
1/10 https://bit.ly/bitcoinamphibious
Departed from the great article by @hasufl "Unpacking Bitcoin's Social Contract", where he emphasizes that Bitcoin is the result of constant social interaction.
Most importantly for me, he refers to it as an institution.
2/10
Most importantly for me, he refers to it as an institution.
2/10
Institutions are frameworks of behaviour, that induce, promote and punish the activities that occur under their influence. Layers of conduct make them possible, informal & formal. The 1st is the cultural foundation and the 2nd the visible, hierarchical and bureaucratic body
3/10
3/10
Formal and informal institutions need each other to create progress & stability. However, the line between the formality and inform. in Bitcoin isnt clear. That’s bc they arent separate but conforms the same entity, sharing and excluding parts of these institutional natures
4/10
4/10
Just like a frog (aquatic and terrestrial), Bitcoin is amphibious.
It has the advantage of having the rigidity of a formal institution, but without the exclusive hierarchy; and the decentralization of the informal institution, but without the inevitable fragmentation.
5/10
It has the advantage of having the rigidity of a formal institution, but without the exclusive hierarchy; and the decentralization of the informal institution, but without the inevitable fragmentation.
5/10
Neo institutionalism is a field that studies why just infrastructure and resources aren't enough to succeed, but it’s necessary a complex social fabric
It’s not just the tech & policy, but also the social fabric around Bitcoin what makes it valuable and perpetuated in time
6/10
It’s not just the tech & policy, but also the social fabric around Bitcoin what makes it valuable and perpetuated in time
6/10
But only through historical conflict, the resolutions can give shape to functional institutions.
Bitcoin started a metamorphosis since the leaving of Satoshi that was consummated in the very symbolic failed attack by those who signed the New York Agreement in 2017.
7/10
Bitcoin started a metamorphosis since the leaving of Satoshi that was consummated in the very symbolic failed attack by those who signed the New York Agreement in 2017.
7/10
The following concepts could be understood more integrally within the model of the Amphibious Institution (organizational dimension) and its relation and dependency on the monetary and technological dimensions:
- Code is Law
- Smart Money
- Conservative Law Change
8/10
- Code is Law
- Smart Money
- Conservative Law Change
8/10
Plus, here you can find a different way to understand Nassim Taleb’s complexity items and how we can apply them to the life cycle of organizations, thus Bitcoin as well.
When will Bitcoin die?
9/10
When will Bitcoin die?
9/10
Plz share and stay tuned. I’ve written more texts around this matter, one of them will be published in a popular site soon.
This is a simplification of the content, so would be nice if you read the essay (or listen, @bitcoinaudible u up?)
Special thanks to @Narodism!
10/10
This is a simplification of the content, so would be nice if you read the essay (or listen, @bitcoinaudible u up?)
Special thanks to @Narodism!
10/10
Huge thanks for the inspiration to:
@0xB10C @nic__carter @lopp @jimmysong @LukeDashjr @hodlonaut and u/stackingsatseveryday.
Probably this would insterest you:
@CitizenBitcoin @Bquittem @dergigi @stephanlivera @Croesus_BTC @Leishman @giacomozucco @bitcoinheiros
@0xB10C @nic__carter @lopp @jimmysong @LukeDashjr @hodlonaut and u/stackingsatseveryday.
Probably this would insterest you:
@CitizenBitcoin @Bquittem @dergigi @stephanlivera @Croesus_BTC @Leishman @giacomozucco @bitcoinheiros
