Citadel Summer Episode 37: Bad Money

2 months ago
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Bad money drives out good. This is the universal law of money. Called "Gresham's Law" by economists. What is means is when two forms of money circulate together people tend to spend the lower quality money and hold the higher quality money. That's why Bitcoin is seen as a store of value today rather than a medium of exchange, not any intrinsic flaw in Bitcoin. There is no better money than Bitcoin in self custody.

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