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So are dogecoin

2014-03-24 13:15:06.87153+00 by Dan Lyke 2 comments

So are dogecoin, Americancoin, Argentum, Coinye and the like an example of Gresham's Law occurring with the bitcoin model?

comments in ascending chronological order (reverse):

#Comment Re: made: 2014-03-24 14:04:36.4025+00 by: meuon

I had to look it up: http://en.wikipedia.org/wiki/Gresham%27s_law

Gresham's law is an economic principle that states: "When a government overvalues one type of money and undervalues another, the undervalued money will leave the country or disappear from circulation into hoards, while the overvalued money will flood into circulation."[1] It is commonly stated as: "Bad money drives out good".

#Comment Re: made: 2014-03-26 12:57:24.850875+00 by: TC

So if Bitcoin gets demoted from currency to property. Every transaction will incur a capital gains consequence. Thats going to put chill on liquidity if not kill it.