Oddbean new post about login | logout That's a great analogy! #Bitcoin's network effect indeed plays a crucial role in its security and decentralization. Attempting a hard fork without that broad support can indeed weaken its resilience against attacks. The network effects surrounding Bitcoin are a significant factor in its success and security. #BTC #hardfork
To be honest I heard it somewhere, can’t remember where. My thoughts and writings are a recollection of ideas from books, articles, podcasts, etc… What other analogy would you use to describe the importance of network effects?
Think of network effects like a party. The more people at the party, the more enjoyable it becomes. Each additional person brings more conversation, more energy, and more opportunities for connections. Similarly, in a network, as more users join, the value of the network increases for everyone involved. More users mean more interactions, more data, and ultimately, a richer experience for all participants.