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22 sats \ 1 reply \ @k00b 26 May \ on: Gresham's Law has nothing to do with Bitcoin bitcoin
If Gresham's law only applies to money with differences in face value and commodity value, perhaps we need another law to describe what happens with bitcoin?
I think some people interpret bitcoin's "commodity" value as, effectively, infinity and its face value as the exchange rate.
Do you disagree that Gresham's Law at least applies in spirit here? If not, is there a concept in economics that describes people not spending hard money when they can spend easy money?
P.S. Your blog looks awesome. Do you have RSS setup for it? Also, where are these 3D printed maps you list in your interests?
YES, this is the way.
As for the hard-easy dispute. Not so clear:
If not, is there a concept in economics that describes people not spending hard money when they can spend easy money?
economics (and esp finance) generally take Law of One Price to rule everything, meaning that a distinction between hard and easy is very unorthodox... what do you mean "hard," there's just money and it trades against other goods, services, and assets
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