Five on Nostr: You're analysis contains some truth but you don't mention another natural incentive ...
You're analysis contains some truth but you don't mention another natural incentive that arises from the permissionless nature of bitcoin.
You only need to get burnt a couple of times till you realize that sending payments to whoever, whenever with 100% control and better privacy IS in an increasing number of cases a big factor as to what money we use.
You left out important benefits of bitcoin intimately tied to situations related to medium of exchange when you were talking about "why people don't spend bitcoin".
So ultimately Gresham's law contains some truth but is a simplification and is therefore false. How else do you justify real people spending bitcoin today?
You only need to get burnt a couple of times till you realize that sending payments to whoever, whenever with 100% control and better privacy IS in an increasing number of cases a big factor as to what money we use.
You left out important benefits of bitcoin intimately tied to situations related to medium of exchange when you were talking about "why people don't spend bitcoin".
So ultimately Gresham's law contains some truth but is a simplification and is therefore false. How else do you justify real people spending bitcoin today?