Quote from: freetx on July 02, 2011, 01:56:33 PM

This is known as "Gresham's Law" which is: Bad money drives out good.

Fiat is hot-potato money.

This is not entirely true.

Gresham's Law states that bad money drives out good only as long as there is a law requiring people to use the "bad" money.
Since the Bitcoin is decentralized and independent, and therefore by its very nature "lawless", it should drive out all the bad (fiat) currencies. So states Gresham's Law.

Not "bad" money drives out "good", but Government Force!

.