“Bitcoin is a classic network effect, a positive feedback loop | RevalCoin

“Bitcoin is a classic network effect, a positive feedback loop. The more people who use Bitcoin, the more valuable Bitcoin is for everyone who uses it, and the higher the incentive for the next user to start using the technology. Bitcoin shares this network effect property with the telephone system, the web, and popular Internet services like eBay and Facebook”, — Marc Andreessen, co-founder of IT corporation Netscape Communications.

The entrepreneur is confident that thanks to cryptocurrencies, people will not overpay for their purchases or pay fees for money transfers. This will be a chance to significantly reduce transaction costs.