21 sats \ 2 replies \ @mudbloodvonfrei 23 Jul 2023 \ on: Gresham's Law should NOT be applied to Bitcoin. bitcoin
What does decentralization have to do with it? Why use perfectly good sats when I can use easily-printed fiat? I can do spend-and-replace but that's essentially the same thing - I'm converting shitty money to good money to avoid spending my existing stash of good money.
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1 sat \ 0 replies \ @Undisciplined 23 Jul 2023
That's exactly the reasoning behind Gresham's Law. Part of what we're trying to do is essentially destroy the bad currency, so that people will adopt the good currency. Another part though is very intentionally fighting against Gresham's Law, by creating Bitcoin economies, to provide people who don't particularly care about Bitcoin reasons to adopt it.
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1 sat \ 0 replies \ @bitcoincaragua OP 23 Jul 2023
A decentralized currency provokes the wrath of centralized slave owners, to the point of prohibiting the circulation of bitcoin. If today, which is still legal, nobody is interested in learning how to pay, whether out of greed or ignorance of how it works, what will it be like if it is banned?
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