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Ander comments on Bitcoin value and small probability / high impact arguments - Less Wrong Discussion

4 Post author: vbuterin 31 March 2015 04:48PM

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Comment author: Ander 31 March 2015 09:38:02PM 0 points [-]

You still have to account for the probability of Bitcoin holders seeing the change coming and deciding to modify the Bitcoin codebase to adapt the new desirable features, but still use the Bitcoin ledger (aka current ownership of Bitcoins).

I don't know how to evaluate the probabilities of these various outcomes happening, however it only costs about 10-20% more to go from 'buy X bitcoins' to 'buy X bitcoins, and also diversify by buying an equivalent percentage stake in all other promising blockchain technologies'.

If you do that you can change the equation from Bitcoin winning and continuing to have value, versus the blockchain technology succeeding and some instance of it continuing to have value.