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41 sats \ 2 replies \ @denlillaapan 26 May \ parent \ on: Gresham's Law has nothing to do with Bitcoin bitcoin
perceived to be undervalued by the market
this is incorrect. It's not a subjective perception, but an arbitrage-style price ceiling/floor guaranteed by a mint or a government.
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44 sats \ 1 reply \ @SimpleStacker 26 May
Right, i agree, but all I'm saying is that whether by perception or by objective arbitrage, the strategic incentives are similar, resulting in similar dynamics.
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10 sats \ 0 replies \ @Undisciplined 26 May
The important difference is that there's no fixed exchange rate with bitcoin.
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