Post
Topic
Board Serious discussion
Re: The grim truth about cryptocurrency community
by
MeGold666
on 02/07/2024, 10:10:51 UTC
In economics, Gresham's law is a monetary principle that states "bad money drives out good money." For example, if you have hard money like Bitcoin in circulation, whose inflation decreases every 4 years and moves towards zero, and the dollar, which is printed uncontrollably and quickly loses purchasing power, people will tend to spend the bad form of money that loses purchasing power day by day and save the good form of money whose purchasing power increases.

The inflation is there to incentivize spending (using) currency.

Money that's not being used is not money and Bitcoin is currently losing it's main purpose (Digital Cash) and becoming nothing more than a legal Ponzi scheme.

https://en.wikipedia.org/wiki/Ponzi_scheme