Trace Mayer’s 2015 article identifies seven network effects driving Bitcoin’s success: speculation, merchant and consumer adoption, enhanced security, developer interest, financialization, and potential world reserve currency status. These effects, the article argues, create a powerful positive feedback loop, making Bitcoin increasingly valuable and difficult for competitors to surpass. The article emphasizes Bitcoin’s advantages over traditional finance and other cryptocurrencies, highlighting its decentralized nature, transparent codebase, and potential for disrupting established financial systems. Ultimately, the piece predicts Bitcoin’s continued growth and dominance. Source – https://nakamotoinstitute.org/mempool/the-seven-network-effects-of-bitcoin/
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