'Bitcoin is a multi-leader multi-follower Stackelberg game.…
'Bitcoin is a multi-leader multi-follower Stackelberg game. '
'It is also an infinite game'
'bitcoin uses the red queen hypothesis'
The bitcoin games bind the players and the signalling is adequately rewarded.
what kind of games are in hashcash?
Replies
Signaller: I am committed to processing transactions on this network, notice how I spend this energy and have to wait most of a day for the reward. I have to distribute my signal; it is as important as the ability to create it.
for the other players, the psychology of receiving this signal is simple; the rules of the game are known, by receiving the honest signals, the other parties will also be willing to receive their signals
In other proof of work systems like hashcash without games I know of to play, I do not see how the receiver has means to develop acceptance of the signal.
It must be that the one who receives the signal plays as an important of a role as the signaler.
In the wild these processes (signal and its reception) evolve together.
In bitcoin the artificial signal is within a delicate framework for its reception. Participants are paid; coopetition is part of the edifice.
To construct a signal for which its reception requires logic alone strikes me as a signal which will most often fail to be received adequately.