techfeudalist on Nostr: The people who are surprised by bitcoin don’t understand Gresham’s / Thiers law. ...
The people who are surprised by bitcoin don’t understand Gresham’s / Thiers law.
Yes, some early folks believed that it was just P2P currency. Nope. It’s mildly amusing to see them dump their coins in disgust.
Ya gotta understand the process.
Store of value <— you’re here
Medium of exchange
Unit of account
At some point it will move to the next level and be a medium of exchange. No point in getting upset that it isn’t there yet. We’re making good progress.
Yes, some early folks believed that it was just P2P currency. Nope. It’s mildly amusing to see them dump their coins in disgust.
Ya gotta understand the process.
Store of value <— you’re here
Medium of exchange
Unit of account
At some point it will move to the next level and be a medium of exchange. No point in getting upset that it isn’t there yet. We’re making good progress.