{"id":632242,"date":"2024-07-30T16:30:13","date_gmt":"2024-07-30T16:30:13","guid":{"rendered":"https:\/\/wncen.com\/?p=632242"},"modified":"2024-07-30T11:43:17","modified_gmt":"2024-07-30T11:43:17","slug":"research-firm-bitcoin-game-theory","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/research-firm-bitcoin-game-theory\/","title":{"rendered":"Research Firm Predicts Bitcoin Game Theory In Global Adoption Race"},"content":{"rendered":"

In an analysis released<\/a> on Monday, ASXN, an emerging crypto research firm, outlines the dynamics of global Bitcoin adoption through the lens of game theory. The report titled “The Game Theory of Bitcoin Adoption Among Nations” provides an examination of how nations can leverage mathematical game theory to strategically adopt Bitcoin.<\/p>\n

The report follows on the heels of Donald Trump’s announcement<\/a> at the Bitcoin 2024 conference that he\u2019ll convert all BTC\u2019s owned by the US government through enforcement actions into a \u201cstrategic Bitcoin stockpile\u201d.<\/p>\n

Bitcoin Game Theory Explained<\/h2>\n

The report begins by framing BTC adoption within the broader context of game theory, a discipline that evaluates the strategic decisions made by individuals or entities under conditions of uncertainty and competing interests. According to ASXN, “Game theory provides a structured framework to predict the outcomes of nation-level strategies in adopting digital currencies, taking into account not only the economic benefits and technological advancements but also the potential geopolitical shifts.”<\/p>\n

Related Reading: Minimal Bitcoin On-Chain Resistance Ahead: Price Set For New ATH?<\/a><\/div>\n

According to the concept of ‘First Mover Advantage’, early adoption of BTC can position nations advantageously on several fronts. The report states, “Nations acting as first movers in the Bitcoin arena may set precedents in legal and regulatory frameworks, attract global crypto enterprises, and secure a significant share of the blockchain innovation landscape.”<\/p>\n

However, it contrasts these advantages with the pitfalls of premature regulatory frameworks and the volatility of Bitcoin\u2019s market value, which could pose substantial risks to national economies. The report adds, \u201cOnce a few influential nations adopt Bitcoin, others will follow suit to avoid being left behind \u2013 creating a bandwagon effect. This effect is driven by both the returns to adoption as well as the risks of non adoption. This is when the Bitcoin adoption cycle enters the steepest part of the s-curve.\u201d<\/p>\n

\"S
S curve adoption | Source: X @asxn_r<\/figcaption><\/figure>\n

The ‘Payoff Matrix’\u2014a fundamental tool in game theory\u2014is applied by ASXN to dissect the decision-making process of countries considering Bitcoin adoption for nations. ASXN elaborates on how this matrix helps countries assess the potential returns and risks associated with various strategic choices. “Each nation faces a unique matrix based on its economic structure, political climate, and market dynamics. The optimal strategy, while generally skewing towards adoption due to the projected global ascendancy of cryptocurrencies, must still be tailored to individual national circumstances,” the report elaborates.<\/p>\n

\"Payoff
Payoff matrix of Bitcoin adoption | Source: X @asxn_r<\/figcaption><\/figure>\n

Furthermore, the report also introduces the concept of the ‘Best Reaction Function’ in the context of Bitcoin adoption, explaining how nations develop strategies by anticipating the decisions of others. “A nation\u2019s strategy is influenced not only by its direct gains from adopting Bitcoin but also by the expected actions of other nations, which might alter the global economic and technological landscape,” the report states.<\/p>\n

Related Reading: Bitcoin Bull Cycle Likely To Go On Till Mid-2025: CryptoQuant CEO<\/a><\/div>\n

The researchers add how the bandwagon effect could play out; \u201cThe logic plays out something like \u2013 Nation 1 assesses the cost benefit trade off and decides on adoption. Nation 1 realizes that all other nations are also going to choose adoption, Nation 1 concluded that, given that all nations will choose adoption, they should increase adoption speed so as not to lose competitive edge. Slowly, then all at once.\u201d<\/p>\n

ASXN uses several real-world applications to illustrate the theoretical concepts discussed. The case of El Salvador<\/a> is examined in depth, showcasing how its early adoption has influenced other nations’ perceptions and strategies towards Bitcoin. The analysis extends to how Wisconsin\u2019s pension fund investment<\/a> in Bitcoin ETFs reflects a broader trend of sub-national entities assessing cryptocurrency as a viable component of their financial strategies, and the substantial commitment by MicroStrategy<\/a> is highlighted as a corporate parallel to national strategies.<\/p>\n

Looking forward, the report discusses the potential future trajectories of Bitcoin adoption, influenced by both technological advancements and evolving geopolitical dynamics. It specifically addresses Robert Kennedy Jr.’s proposal<\/a> at Bitcoin Nashville 2024 to acquire 550 BTC daily until the US amasses 4 million BTC, which represents 19% of the total available BTC supply. This approach aims to reflect the proportion of global gold reserves that the US currently maintains in comparison to other countries.<\/p>\n

\"Gold
Gold reserves top 15 | Source: X @asxn_r<\/figcaption><\/figure>\n

And the Bitcoin game theory is already playing out.\u00a0\u201cWhilst the ideas Trump presented at Bitcoin Nashville may or may not happen, the simple fact he publicly acknowledged Bitcoin & it’s properties is a win & we are already seeing early signs of the effects of this,\u201d the researchers conclude.<\/p>\n

They refer to Johnny Ng, a member of Hong Kong’s Legislative Council, who has been advocating<\/a> for the incorporation of Bitcoin into the city’s financial reserves following Trump\u2019s announcement.<\/p>\n

At press time, BTC traded at $66,660.<\/p>\n

\"Bitcoin
BTC price, 1-week chart | Source: BTCUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image created with DALL\u00b7E, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

In an analysis released on Monday, ASXN, an emerging crypto research firm, outlines the dynamics of global Bitcoin adoption through the lens of game theory. The report titled “The Game Theory of Bitcoin Adoption Among Nations” provides an examination of how nations can leverage mathematical game theory to strategically adopt Bitcoin. The report follows on the heels of Donald Trump’s announcement at the Bitcoin 2024 conference that he\u2019ll convert all BTC\u2019s owned by the US government through enforcement actions into a \u201cstrategic Bitcoin stockpile\u201d. Bitcoin Game Theory Explained The report begins by framing BTC adoption within the broader context of game theory, a discipline that evaluates the strategic decisions made by individuals or entities under conditions of uncertainty and competing interests. According to ASXN, “Game theory provides a structured framework to predict the outcomes of nation-level strategies in adopting digital currencies, taking into account not only the economic benefits and technological advancements but also the potential geopolitical shifts.” Related Reading: Minimal Bitcoin On-Chain Resistance Ahead: Price Set For New ATH? According to the concept of ‘First Mover Advantage’, early adoption of BTC can position nations advantageously on several fronts. The report states, “Nations acting as first movers in the Bitcoin arena may set precedents in legal and regulatory frameworks, attract global crypto enterprises, and secure a significant share of the blockchain innovation landscape.” However, it contrasts these advantages with the pitfalls of premature regulatory frameworks and the volatility of Bitcoin\u2019s market value, which could pose substantial risks to national economies. The report adds, \u201cOnce a few influential nations adopt Bitcoin, others will follow suit to avoid being left behind \u2013 creating a bandwagon effect. This effect is driven by both the returns to adoption as well as the risks of non adoption. This is when the Bitcoin adoption cycle enters the steepest part of the s-curve.\u201d The ‘Payoff Matrix’\u2014a fundamental tool in game theory\u2014is applied by ASXN to dissect the decision-making process of countries considering Bitcoin adoption for nations. ASXN elaborates on how this matrix helps countries assess the potential returns and risks associated with various strategic choices. “Each nation faces a unique matrix based on its economic structure, political climate, and market dynamics. The optimal strategy, while generally skewing towards adoption due to the projected global ascendancy of cryptocurrencies, must still be tailored to individual national circumstances,” the report elaborates. Furthermore, the report also introduces the concept of the ‘Best Reaction Function’ in the context of Bitcoin adoption, explaining how nations develop strategies by anticipating the decisions of others. “A nation\u2019s strategy is influenced not only by its direct gains from adopting Bitcoin but also by the expected actions of other nations, which might alter the global economic and technological landscape,” the report states. Related Reading: Bitcoin Bull Cycle Likely To Go On Till Mid-2025: CryptoQuant CEO The researchers add how the bandwagon effect could play out; \u201cThe logic plays out something like \u2013 Nation 1 assesses the cost benefit trade off and decides on adoption. Nation 1 realizes that all other nations are also going to choose adoption, Nation 1 concluded that, given that all nations will choose adoption, they should increase adoption speed so as not to lose competitive edge. Slowly, then all at once.\u201d ASXN uses several real-world applications to illustrate the theoretical concepts discussed. The case of El Salvador is examined in depth, showcasing how its early adoption has influenced other nations’ perceptions and strategies towards Bitcoin. The analysis extends to how Wisconsin\u2019s pension fund investment in Bitcoin ETFs reflects a broader trend of sub-national entities assessing cryptocurrency as a viable component of their financial strategies, and the substantial commitment by MicroStrategy is highlighted as a corporate parallel to national strategies. Looking forward, the report discusses the potential future trajectories of Bitcoin adoption, influenced by both technological advancements and evolving geopolitical dynamics. It specifically addresses Robert Kennedy Jr.’s proposal at Bitcoin Nashville 2024 to acquire 550 BTC daily until the US amasses 4 million BTC, which represents 19% of the total available BTC supply. This approach aims to reflect the proportion of global gold reserves that the US currently maintains in comparison to other countries. And the Bitcoin game theory is already playing out.\u00a0\u201cWhilst the ideas Trump presented at Bitcoin Nashville may or may not happen, the simple fact he publicly acknowledged Bitcoin & it’s properties is a win & we are already seeing early signs of the effects of this,\u201d the researchers conclude. They refer to Johnny Ng, a member of Hong Kong’s Legislative Council, who has been advocating for the incorporation of Bitcoin into the city’s financial reserves following Trump\u2019s announcement. At press time, BTC traded at $66,660. Featured image created with DALL\u00b7E, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":632248,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,85204,656,679,1119,1122,1144,78790],"class_list":["post-632242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-game-theory","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-price","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nResearch Firm Predicts Bitcoin Game Theory Among Nations<\/title>\n<meta name=\"description\" content=\"ASXN, an emerging crypto research firm, outlines the dynamics of global Bitcoin adoption through the lens of game theory.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. 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Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. 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