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Can Bitcoin Be Copied?odysee.com/@TraderUniversity:a/can-bitcoin-be-copied:f?r=8T2xqWjtafHWYGxQBSsrbw1wQPm7sWRq
187 sats \ 6 comments \ @Undisciplined 13 May 2024 bitcoin_beginners
This was one of my big concerns about Bitcoin. Is it really scarce, if an unlimited number of Bitcoin-like networks can be created?

Video Description

In this video, I discuss how it is very easy to copy paste Bitcoin's code, TikTok's code, basketball game rules, and the English language-- as well as how difficult it is to copy paste network effects, which are what really matters.
You can copy Bitcoin's code, but it's impossible to bring along Bitcoin miners, nodes, hodlers, exchanges, wallets, Bitcoin's global brand, companies building on Bitcoin, etc.
Your new version of Bitcoin is not going to be able to catch up with El Salvador, Bitcoin Jungle, Bitcoin Beach, etc. Bitcoin already has a 15 year head start, and huge market cap north of $1 trillion.
Bitcoin remains the apex predator not just of currencies, but also of all assets, which continue to trend to zero against BTC.
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69 sats \ 3 replies \ @grayruby 13 May 2024
Yes, you can copy Bitcoin like I can copy a 360 slam dunk. You can try but horribly fail and injure yourself in the process.
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50 sats \ 2 replies \ @Undisciplined OP 13 May 2024
That's more or less the message from the video.
Still, it wouldn't totally surprise me if a country attempted something like this. Could we see China make a copy of the code, mine up a ton of coins, and then peg/replace their currency with their own bitcoin network?
That would eventually fail, but it might be a step along the path we're on.
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69 sats \ 0 replies \ @grayruby 13 May 2024
I guess that's possible if there is catastrophic failure of a currency, a country could try to legitimize their trash by claiming to peg it to their version of bitcoin.
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41 sats \ 0 replies \ @machuPikacchu 13 May 2024
We all hope something like that would fail, but it's not guaranteed. Not to give them any ideas but they produce so much of what the modern world consumes that at some point they can require their trade partners to pay in whatever currency and enforce whatever exchange rate gives them the best deal. If they continue to outcompete everyone else then this becomes a real concern.
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21 sats \ 0 replies \ @Athena 13 May 2024
No. Never! Nothing can replace Bitcoin.
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21 sats \ 0 replies \ @BitcoinAbhi 13 May 2024
I don't think so. Because I believe "there is always imitation but never equality."
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