It is Gresham's law in action.
There will come a time when it doesn’t apply anymore. This will happen bit by bit, when people decide it is worth it.
It could be for example that spending bitcoin is more convenient, quicker or cheaper then the alternative.
Then it will become the medium of exchange and later on unit of account.
It is the gradual process of becoming money. This definition will not be true for everyone at the same time.
kevin21 / Kevin
npub1mw…uvesg
2023-05-23 14:42:55
in reply to nevent1q…gu65
Author Public Key
npub1mwn42790v22vckr45g00922mfhrujmvex4wfsl52ygdpamwmckmqjuvesgPublished at
2023-05-23 14:42:55Event JSON
{
"id": "0f91f0d7bfc150ef9ab6eb1e6e42cabe9c26ec08eafbd204cfaf4003951c302b",
"pubkey": "dba75578af6294cc5875a21ef2a95b4dc7c96d99355c987e8a221a1eeddbc5b6",
"created_at": 1684852975,
"kind": 1,
"tags": [
[
"e",
"61b830ca3e96ed3951b2fec6728508d056f89be8bbf734802b9522469bc2e4ea"
],
[
"e",
"5af550d6e559a85c311296c1be3871eb3c67604774902a1761f260adb1f1924a"
],
[
"p",
"82bdee506e769ebc94ee2f362d07c1960dce40bac650d826a42f8e0c019c3c96"
],
[
"p",
"7b991f776d04d87cb5d4259688187a520f6afc16b2b9ad26dac6b8ee76c2840d"
]
],
"content": "It is Gresham's law in action. \n\nThere will come a time when it doesn’t apply anymore. This will happen bit by bit, when people decide it is worth it. \n\nIt could be for example that spending bitcoin is more convenient, quicker or cheaper then the alternative. \n\nThen it will become the medium of exchange and later on unit of account. \n\nIt is the gradual process of becoming money. This definition will not be true for everyone at the same time.",
"sig": "c9bf3b678e527efd0549e6a7f76a977a5ee9cec71a6d878c3c7727b2814c023f744efc867c2df5ed93845aa2053f5d5c21b8b3003caef012e9fe256febada4fb"
}