"This rationale also completely demolishes the “blockchain not Bitcoin” mantra as the Schelling point is purely based on bitcoin the money, not blockchain the technology." - Willem Van Den Bergh
Why do communication protocols tend towards monopoly? What is it in the nature of networks that lends dominance in a single medium, in the way VHS killed the very existence of BetaMax, how Blu-ray pushed HD-DVD into obscurity? What can Schelling Points, the Lindy Effects, and what we know about networks inform us about these unique systems, and do they demonstrate the limits of free markets? Don't miss this incredible piece from Willem "On Schelling Points, Network Effects, & Lindy."
A great listen to accompany this one is Nick Szabo's "Shelling Out"
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