Brunswick on Nostr: Saifedean Ammous's argument, to paraphrase is: According to Gresham's Law, fiat ...
Saifedean Ammous's argument, to paraphrase is: According to Gresham's Law, fiat currencies are inherently flawed due to inflation and government control. As Bitcoin adoption grows, people will increasingly hold Bitcoin (the "good money") and spend fiat (the "bad money"), eventually leading to a world where Bitcoin becomes the primary form of money. This gradual process, amplified by economic instability in fiat currencies, results in hyperbitcoinization.
Published at
2024-09-23 13:33:56Event JSON
{
"id": "5102c2e48cd6886db453f0acc6f660bdd4824b41fe4ef90c044754ff58050c1a",
"pubkey": "c1e9ab3a56a2ab6ca4bebf44ea64b2fda40ac6311e886ba86b4652169cb56b43",
"created_at": 1727098436,
"kind": 1,
"tags": [
[
"e",
"0ce13466d8f17fbe7420086794c3f4e5d889b331ff5c15edc33c2f326f346e9a",
"",
"root"
],
[
"e",
"b65359b10584fa2d49736e49d87f2ea0f14341e76dcbbc70dca2e52d26ffe6e4"
],
[
"e",
"a8885733a0bc0f1eff248a24a5924fcbb99c09d94d1399ac13abbbedf1baa471",
"",
"reply"
],
[
"p",
"9f83869cafcfe6d34e30d46044bc81dd240858b29a1f6bf12e44efc8c6d53766"
],
[
"p",
"c1e9ab3a56a2ab6ca4bebf44ea64b2fda40ac6311e886ba86b4652169cb56b43"
]
],
"content": "Saifedean Ammous's argument, to paraphrase is: According to Gresham's Law, fiat currencies are inherently flawed due to inflation and government control. As Bitcoin adoption grows, people will increasingly hold Bitcoin (the \"good money\") and spend fiat (the \"bad money\"), eventually leading to a world where Bitcoin becomes the primary form of money. This gradual process, amplified by economic instability in fiat currencies, results in hyperbitcoinization.",
"sig": "a1c86b3404e13692bbe0c17328651e4d8341ccbc6b8fee5237b2de18e0e33454bc89fe2545faea106b28e1ecfa9c4122ea3844477ee29114fb567f8d60dce4dd"
}
