But Gresham’s Law only applies when two forms of money in circulation are accepted by law as having similar face value. Despite the fact that Gersham’s Law doesn’t apply to bitcoin because its value isn’t dictated by any state, the paper argues that something akin to it would play out within a country where both a global cryptocurrency and domestic currency are used. Here, it might be ... I recently read about Gresham's law, and it seemed kind of counterintuitive at first, but it makes sense. However does this mean that bitcoin will be driven out of circulation, if more people hold it because its commodity value is more than its 'face' value? Is this a good or bad thing? And would this be likely... In turn, bitcoin price would likely rise as well since its supply is hard-capped at 21 million. According to Gresham’s Law, bad money would drive out good money, which in this case would be bitcoin that people would be incentivized to hold as a store value against a constantly depreciating currency like the US dollar. Yang Accepts Bitcoin Gresham's Law and Bitcoin, discuss... Greshams Law states (roughly) that bad (fiat inflatable) money drives out good (stable uninflatable). I don't know if this has been discussed before, but doesn't this imply that Bitcoin will tend to be hoarded and thus never replace fiat as a medium of exchange? So people will use fiat to pay for coffee, groceries and what not while hoarding Bitcoin for ... Gresham International heralded as one of the world’s best crypto law firms, made an announcement this week. They explained that Paraguay’s government accepted its proposal to help develop the ... At this point, Bitcoin isn’t widely spent due to Gresham’s law, which states that bad money drives out good money. What this means is that, when presented with two kinds of currency, individuals will be inclined to spend the inferior one and to hoard the superior one. Users of Bitcoin prefer to spend fiat currencies, as they have little faith in their long-term survival. They hold (or Bitcoin and Gresham’s Law “Bad money drives out the good.” -Sir Thomas Gresham (1519–1579), English financier during the Tudor dynasty What bitcoin hodlers know — or think they know — is that bitcoin is “good money” while dollars are “bad.”
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