Bitcoin’s popularity is on the rise these days after an extremely successful 2020. In the middle of a pandemic when the global crisis hit, BTC was an asset that performed above all expectations.
The mass adoption of Bitcoin and crypto has been one of the main goals that the crypto industry had, and there have been a lot of moves made in this direction. Things continue to go great in 2021 as well.
Real Vision co-founder and macroeconomic expert Raoul Pal said that Bitcoin’s network creates a stronger grip on its users than Facebook.
According to the online publication the Daily Hodl, during an interview with Layah Heilpern, the macro guru notes that companies like Google, Twitter, and Facebook have long deployed behavioral economics – they all did this by “rewarding users with dopamine hits” after they get a “like” or a “follow.”
Bitcoin rewards users with money
As the same online publication notes, Bitcoin, according to Pal, is the ultimate version of the system we talked about above because it rewards users who join the network with capital instead of vanity.
“Bitcoin is the perfect behavioral network because it rewards you in money. The more people you bring into the network, the more your money goes up. That by definition will create tribalism because everybody’s now incentivized for their network to go up more than the other network and for all other networks to fail,” he said.
He continued and pointed out that “It is an incredibly powerful tool for building a network where you have money attached to it. So imagine if every Facebook like was a dollar, imagine what that would do. Or everybody you brought onto Facebook paid you in Facebook shares. That’s what Bitcoin is.”
He also said that BTC is extremely powerful, and this is the reason for which it creates narratives – he said that BTC is like a “religion, it’s all about getting more and more people into it.”
Check out more about what he had to say in the original article posted by the Daily Hodl. Also, check out the video above to see what more Pal has to say about the king coin.