Gresham s law only applies in situations where one money commodity is trading at an artificially lower prize. I.e. when the state sets the price. but with bitcoin / monero we have a free market determining the prize.
Discussion
You're absolutely right, didn't kmow about that takes. That just reinforces my original point that it is not a good excuse for bitcoin to lose market share on retail payments.
yep! that point stands! in free market - especially black markets - the participants want the best money possible - because they are free to demand it!
from wikipedia The law states that any circulating currency consisting of both "good" and "bad" money (both forms required to be accepted at equal value under legal tender law) quickly becomes dominated by the "bad" money.
so, a debased currency that is legally bound to a higher price than it would otherwise have on the free market. in this situation people get rid of their artificially overvalued coins first. understandably so.
and I misspoke on my previous post, artificially HIGHER prize/purchasing power