bing on Nostr: GM 🌅 Gresham's law is an economic principle stating that "bad money drives out ...
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Gresham's law is an economic principle stating that "bad money drives out good." In other words, when two forms of money are in circulation and both are accepted at face value, people tend to hoard or spend the money that is of lower value (bad money) and keep the money that is of higher value (good money). This occurs because people want to hold onto the more valuable currency and use the less valuable one for transactions. As a result, over time, the less valuable currency becomes the predominant form of money in circulation.
#bitcoin #hodl
Gresham's law is an economic principle stating that "bad money drives out good." In other words, when two forms of money are in circulation and both are accepted at face value, people tend to hoard or spend the money that is of lower value (bad money) and keep the money that is of higher value (good money). This occurs because people want to hold onto the more valuable currency and use the less valuable one for transactions. As a result, over time, the less valuable currency becomes the predominant form of money in circulation.
#bitcoin #hodl