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0 sats \ 1 reply \ @F 23 Feb 2023 \ parent \ on: Monero Konferenco 2023 bitcoin
In economics, Gresham's law is a monetary principle stating that "bad money drives out good". For example, if there are two forms of commodity money in circulation, which are accepted by law as having similar face value, the more valuable commodity will gradually disappear from circulation.
More monero will be created forever, it is not as scarce as bitcoin. Based on Gresham's law, Bitcoin will more likely go out of circulation more quickly than monero's endless tail emission, thus making bitcoin the good money here (disappearing)
yeah I know what it is, but in the world's only free market, the dark web, that's not what we observe is it? Bitcoin is not driving Monero out, Monero is driving Bitcoin out. This is because it is better money directly due to it's homogeneity/fungibility, an essential quality of good money, which monero possesses, and bitcoin does not possess.
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