Bitcoin’s Greatest Feature Is Also Its Existential Threat | WIRED

Over the last three decades, the world has witnessed the power of open networks: blockchains, social media, the very web itself. What makes them so powerful is that their value is related not just to the number of users, but the number of potential links between users. This is Metcalfe’s law—value in a network is quadratic, not linear, in the number of users—and every open network since has followed its prophecy.

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