Actually, no, Gresham’s Law was specifically about how use of bank notes, fiat currency, which was always more liquid and available on credit, especially in good economic times, drove people to hoard gold and silver in vaults and other holdings in a reserve for bad times when credit was bad and merchants would demand gold and silver in payment, or else accept fiat and other notes at a steep discount when public confidence in such institutions was low.
Actually that’s pure bullshit, as anyone who can look it up can see.
Citations here to the actual sources.
https://www.yours.org/content/the-fallacy-of-gresham-s-law-as-it-relates-to-bitcoin-9163ea1c77b6/
Its a provable fact that people will hoard sound money, like gold and silver, in good times, when credit is cheap and fiat money holds value due to high public confidence in the issuers of fiat. When times are bad, inflation and interest rates rise due to low confidence, credit is hard to come by, and those who have hoarded their gold and silver and cannot obtain credit, will liquidate such to pay their bills. This is Greshams Law in practice. In our case, bitcoin, which was designed to mathematically replicate the macroeconomic behavior of Gold and Silver, is “good money”, where fiat money of central banks and government is bad money, that is easier for people to use in good economic times, but which has low confidence in bad times (like we see in Zimbabwe, and Venezuela), and bad times put a premium on use of sound monies, like gold, silver, and bitcoin, which is why bitcoin trades in Zimbabwe at a much higher price than it does in more stable economies.
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If you want to site Gresham’s Law and say I’m wrong about it, stop making whiney excuses about why Gresham’s Law should be defined the way you want it to be and accept that you were wrong in trying to correct me.
I’m not wrong, and nothing you’ve said has disproven anything I’ve said.
