re Nash Needs a Closed System We Don't Have That - jalToorey/IdealMoney GitHub Wiki

This IS a significant and relevant question and it's been buried by works such as Bryan Solstin’s Bitcoin and Nash Equilibrium (a title which even references the concept wrong semantically) and Mark’s Goodwin's Book The Bitcoin-Dollar and chapter in it “The Nashian Orientation (Of Bitcoin)”. It’s also been buried by the constant assertions on the Censorship Industrial platform aka the internet aka social media that “Bitcoin is Nash Equilibrium" etc.

I DO point out in many writings of mine that the Nash Equilibrium is a type of balance point in a strategies (multiple player strategies etc.) optimized type scenario from which we would derive optimal strategies but for real time scenarios that aren’t necessarily situations between players using optimal strategies.

The Nash Equilibrium of a game is the necessary strategy to know how to derive ALL best responses for ALL scenarios.

Thus we can consider in this email not only what is being asked for perhaps with regard to the existence of Bitcoin, and with respect to the global financial system, but also that the question shows the questioner (and Epstein) understands what I have explained here (ie above) and what is in bold.

The question is answered by Jal and only by Jal (as opposed to conmen, imposters, and plagiarizers) in the essay series The Nashian Orientation of Bitcoin Enumerated Series

And one can start with this essay to see that it IS DIRECTLY addressed here:

…a framework from John Nash’s proposal Ideal Money and find a very curious and valuable synthesis with zero complexity distance between Nash’s proposal and Hayek’s proposal when traversed together. This works two-fold to give us a framework (a Nash Equilibrium literally) to traverse Hayek and also to help align our understanding of Hayek to then understand Nash’s proposal.

~On the Tools and Metaphors Necessary To Properly Traverse Hayek’s Denationalization of Money In the Face and Light of Bitcoin

And here using a Nash technique:

The Nash equilibrium is a formal game theory concept very often misapplied to phenomena that don’t properly fit within the confines of its axioms. We announced we are going to knowingly misapply it in this way in order to still draw out a special insight.

We claim Nash would approve of the use of this as a reasonable application of it.

And then we derived from Nash’s Equilibrium proof the corollary that if we can render Hayek’s problem down to that of a game we can prove it to be solvable (albeit perhaps only by the mathematics and confines of game theory).

~On the Sharpening of the Tools Necessary As a Computational Shortcut for Understanding Hayek’s Proposal The Denationalization of Money in The Context of the Existence of Bitcoin

It’s illustrated here (Nash’s Equilibrium):

And extended here esoterically (ie WLOG):

Jal's Equilibrium