I wasn't aware of this until recently:
Discussion
Usually misunderstood. Only applies to fiat money combined with a commodity i.e. coins being clipped.
Thier's Law more applicable to Bitcoin.
There is no bad money in a free market of money.
Yes, this:
https://river.com/learn/terms/t/thiers-law/
We are spending "bad" fiat money, while keeping "good" Bitcoin money.
Interesting 🤔
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obviously it's only due to our _distorted_ perception of reality
¯\_(ツ)_/¯
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> Copernicus postulated the principle that "bad money drives out good"
[Monetae_cudendae_ratio](https://en.wikipedia.org/wiki/Monetae_cudendae_ratio)
While studying political economy in early 1980s it was explained during a lecture that _good money_ is hoarded and replaced in circulation with less waluable one. It was presented as _Copernicus law_.
That itself is enough good explanation for _hodl_ attitude in regard to #bitcoin.
Learned about this relatively recently
I knew about this because of my involvement with Friendsreunited an early social network in the UK back in the early 2000's.