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Gresham Law: Gold Vs Bitcoin
I will start this post with a bit of history. I grew up in Lebanon in the 1970s and early 1980s, during the civil war. At the time, the Lebanese lira held remarkably steady. Despite the collapse of the state and the fragmentation of authority, the exchange rate was steadily depreciating but at a very slow and orderly pace. Daily transactions continued. Shops functioned. Money circulated. This stability reflected a concrete mechanism. During that period, the Palestine Liberation Organization operated from Beirut and later from northern Lebanon. The PLO received substantial inflows of US dollars from external sponsors. ... (full story)
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