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Bitcoin and social media similarities

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I am a bit new to bitcoin and money so please bear with me. I've been thinking about similarities between how money and bitcoin work and social networks, wanted to share my thoughts and hear out what you guys might think as well! I'm really eager to learn more about it, I feel we're so early.

You know how we're all more connected than ever, right? Like, how you're friends on Instagram with someone you met once at a party? The same goes for money. The more connections in a money network, the easier it is to trade stuff. Everybody in the network is connected by the same type of money they use to show and store value.

So, think about how fun it is when a new friend joins your group chat. That's the same with money networks – every time someone new hops on board, everyone in the network benefits. This is what we call "network effects", and it nudges people towards using the same type of money.

Now, let's talk about "hard" and "soft" money. Hard money keeps its value over time, and soft money, well, it's kind of like buying a brand-new phone that loses half its value as soon as you open the box. Naturally, we're all more into hard money because who wants their cash to lose value?

The tricky thing about trading is that what you want, where and when you want it doesn't always match up with what others have to offer. It's like trying to find a vegan, gluten-free, organic dessert at a random small-town bakery – not an easy task! That's why we lean towards a type of money that can tackle all these problems, and this money will become the most popular.

Basically, the money market is like a reality TV show – there's room for only one winner (or, at least, a few finalists). More people using the same type of money means it's easier to trade. But, just like your favorite TV show, the winner isn't always who you expect. It really depends on the market and what they're looking for in their ideal type of money.

submitted by /u/ComfortableAttractio
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