bitcoin

Gresham's Law has nothing to do with Bitcoin

pillar

> People in this coiny fantasy land are not stupid — they know that the gold content is what matters. At some point, someone will realize the bad coins don't have as much gold as they claim and will develop a preference for the good ones. So, if I'm John the Blacksmith and I want to buy some iron, and I have a stash of coins — some good, some bad — I would rather keep the good coins and spend the bad coins. Why? Because I want to keep as much gold as possible, of course.

Does this apply to people spending fiat instead of sats?

>  So, if I'm John the Blacksmith and I want to buy some iron, and I have a stash of coins — some good, some bad — I would rather keep the good coins and spend the bad coins. Why? Because I want to keep as much gold as possible, of course.

Here again. If everyone would rather spend the bad coins and keep the good ones, doesn't this gives the bad coins a chance of being superior over the good ones in circulation?

I mean this is interesting.