Gresham's law is a monetary principle stating that "bad money drives out good".

Which explains why it's bring used as a store of value now, not being used to buy a coffee.

https://video.nostr.build/3220401589608e1406d102379c5cc0c4ca9bea883991195531e732c438dcf6a4.mp4#m=video%2Fmp4&dim=486x270&blurhash=i9CiayTMD%24Dg00xuRSsjakT%3AD%24M%7CxbJ6xtn5xbxH4T8%5Ebb%3Fc.AxvRjtQWU%2C%5Bx%5BWBsoi%5Dofg4IUNa1k%25O%251ITm%2BM%7BtQIoWC&x=37bce60a143143239e8fddf24f999b1a0d1a0db494a54f8acc79de088f939529

Bitcoin isn't there yet, but it's inching closer to the line... The characteristics of money are:

1). Durability

2). Portability

3). Divisibility

4). Uniformity

5). Limited supply

6). Acceptability

#bitcoin

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Discussion

Gresham's law mostly applies to forms of money with the same face value. If I have a pre-1964 quarter that I know is worth ~$5 then I am not going to spend it like it's 25ยข.

Thier's law generally applies to monetary competition. Bitcoin is just still in a boostrapping phase. Awareness & understanding has to spread before it starts diving out the bad money.