Then for Bitcoin specifically, as Ground pointed out it could leverage Greshams law. If a number of currencies are interconnected easily & accessibly then the theory goes that "bad money drives out good". What this means is that as Libra will be based on a basket of fiat currencies then over time inflation will lower its purchasing power. As Bitcoin is deflationary over time barring any major ... #Bitcoin dangerously close to the 200 DMA. Will support hold? Why Bitcoin’s settlement is revolutionary compared to fiat or gold, Square first time BTC buyers double, Fed posts job for crypto researcher, $55k BTC by 2020, crypto news, and more! You are at: Home » Coinbrief » Bitcoin » OECD: Bitcoin is Promising, But Can Never Become Currency By Coinbrief Last updated on June 19, 2018 at 18:27 3 Comments The Organization for Economic Co-operation and Development (OECD) has released a paper on Bitcoin , exploring its potential and the risks involved in its use. Gresham’s law en de Bitcoin? Vanuit de lens van Gresham’s wet is het zeer moeilijk om vast te stellen of de Bitcoin een te hoge of te lage waarde heeft. De waarde wordt bepaald door een vrije marktwerking binnen op dit moment een kleine sentimentele kapitaalmarkt. 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 ... 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.” That’s not necessarily because they just like bitcoin, or don’t like dollars, or just happen to be inveterate contrarians. It’s ... 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 Gresham’s law ruled colonial money as it rules all currencies. The law states: if two types of money are valued the same by law even though the market values of one is higher than the other ... 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...
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