The Game Theory Of Bitcoin

What is game theory? Simply put, if you are playing any game of strategy, like chess, any move you make in the game will have to be countered by your opponent. The strategic decisions that you and your opponent make will ultimately determine who wins and who loses the game.

So how does this relate to Bitcoin? Bitcoin is the greatest invention since the Gutenberg press. The Gutenberg press affected the game theory of how the Church and State worked and how information was shared with the world. When Johannes Gutenberg invented his press, he was essentially moving his chess piece to checkmate the Church. For the most part, up until the invention of the Gutenberg press, the Church and people in positions of power or education could read, write and spread whatever information they wanted. Before the printing press, there were limited copies of important writings such as the Bible. Any knowledge about the world mostly came from whatever your local town had available for a literate figurehead to read in church or school. Most people were not able to read or write, so they had to depend on others to gain their knowledge of the world. People were told what to learn, believe and how to live their lives by the Church. As long as the State and the Church controlled what the people were taught they could control the people’s ideologies.