I recently read about Gresham's law, and it seemed kind of counterintuitive at first, but it makes sense. However does this mean that bitcoin will be driven out of circulation, if more people hold it because its commodity value is more than its 'face' value? Is this a good or bad thing? And would this be likely... Gresham’s law en de Bitcoin? Vanuit de lens van Gresham’s wet is het zeer moeilijk om vast te stellen of de Bitcoin een te hoge of te lage waarde heeft. De waarde wordt bepaald door een vrije marktwerking binnen op dit moment een kleine sentimentele kapitaalmarkt. Bitcoin and Gresham’s Law “Bad money drives out the good. ”-Sir Thomas Gresham (1519–1579), English financier during the Tudor dynasty. What bitcoin hodlers know — or think they know — is that bitcoin is “good money” while dollars are “bad.” That’s not necessarily because they just like bitcoin, or don’t like dollars, or just happen to be inveterate contrarians. It’s ... In turn, bitcoin price would likely rise as well since its supply is hard-capped at 21 million. According to Gresham’s Law, bad money would drive out good money, which in this case would be bitcoin that people would be incentivized to hold as a store value against a constantly depreciating currency like the US dollar. Yang Accepts Bitcoin We’re essentially witnessing Gresham’s Law in action. When people get their hands on bitcoin, they’re going to HODL! They’re going to bury that so deep, to ensure they have the good money saved for their children, for their future. And they’re going to trade the bad money for bitcoins. Nowadays, all money is bad money compared to Bitcoin. For the first time, Bitcoin is helping ... At this point, Bitcoin isn’t widely spent due to Gresham’s law, which states that bad money drives out good money. What this means is that, when presented with two kinds of currency, individuals will be inclined to spend the inferior one and to hoard the superior one. Users of Bitcoin prefer to spend fiat currencies, as they have little faith in their long-term survival. They hold (or
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