18th November 2017
Bitcoin is an excellent illustration of Gresham’s law
My FB comment:
The early adoption stage is now over. Even communist newspapers like the New York Times are pimping the Bitcoin.
I now believe 2018 will mark the rapid upward trajectory of the S curve of adoption. And since most people are not selling but holding their Bitcoin, its price may well skyrocket 10+ times next year. And it still won’t be late to buy it, since it will outpace almost all other asset classes for at least the next 10 years.
This also shows how huge is the pent up demand to get out of fiat currency which is degraded by central banks at an alarming rate each year.
This is also called Gresham’s Law – with bad money (dollars) driving out good money (Bitcoin). People are getting rid of bad money as rapidly as possible and hoarding the good money.