Cykros on Nostr: This phenomenon is known as Gresham's law, where bad money chases out good money ...
This phenomenon is known as Gresham's law, where bad money chases out good money people people hold what is good and spend what isn't, when given the choice. If you're at a store with a gift card, which do you spend first, fiat or your gift card? The same applies with fiat vs sound money.
That bitcoin ISN'T spent, despite being so widely accepted, indicates strength, not weakness.
Published at
2024-09-07 22:02:05Event JSON
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"content": "This phenomenon is known as Gresham's law, where bad money chases out good money people people hold what is good and spend what isn't, when given the choice. If you're at a store with a gift card, which do you spend first, fiat or your gift card? The same applies with fiat vs sound money.\n\nThat bitcoin ISN'T spent, despite being so widely accepted, indicates strength, not weakness.",
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