Topic: Gresham's law - Antonopolous (Read 174 times)

So I watched a video of mr. Antonopolous (several) first thing I'd like to mention that he's quite brilliant and an avid public speaker. He made me think differently about several things already. Such as money being a means of communication.

Now in one of his video's he talked about Greshmam's law which means that when a less valueable currency is introduced or circulating the more valueable currencies, the ones with more intrinsic value will start being used less thus effectively removing them from circulation. Cause why spend a silver dime when you can use a dime of nickel for the same item?
Silver having more intrinsic value, most likely more value than what is stamped on the dime as what its supposedly worth. Are we seeing the same with Bitcoin? It is ment as a currency but it is becoming more and more like an asset. Most people don't recommend spending Bitcoin at all, thus we effectively remove it from circulation whilst giving up the things we see as less valueable such as paper money. Are we seeing Gresham's law in effect with Bitcoin? I don't consider it to be bad or good, but unsure of the consequences, in my own reasoning I then see Bitcoin become more valueable in the future because we already attach a certain value to this and recommend getting rid of the less valueable currencies to save the ones we really favor. Now you can't use the silver dime to buy goods anymore (USA 60's-70's?) but you can sell the silver to someone who collects it/saves it or a bullion for more than what you could have bought with it in the 60's-70's(?).

Are we seeing Gresham's law in effect with Bitcoin. But what does this mean then for circulating currencies such as dollars and euro's? Surely they won't vanish because we save our bitcoin, they keep circulating? Same as what happened with silver and paper in the USA 60-70's(?).