Gresham's law is a little more complicated and it requires particular conditions to exist. Generally speaking, it's when you have two legally mandated versions of the same currency, but where one version is inherently more valuable (the good) than the other (the bad). So a good example would be US dimes, which used to be silver, and were changed over to cheaper metals in 1964. When this happened, there were two versions of dimes in circulation at the same time, the real silver dimes (the good) and the lower value metal dimes (bad), both in circulation at the same time and both legally mandated to be "10 cents." But people knew better, so when it came time to spending, people preferred to hold onto their good silver dimes, and happy to use (spend) their cheap metal dimes when they went to the store to purchase a pack of gum for 10 cents. Over time, the good dimes were kept in people's storage or even melted down, while the bad dimes came to dominate the supply, thus the "bad" replaced the "good." Now let's apply this to what Haejin is saying. I personally do not understand exactly what he is means here, and if he is reading I would love it if he elaborated on how Gresham's law applies here. Is he referring to Gresham's law specifically as it applies to AST or Crypto generally? I suppose he is saying that fiat is the bad, because it is being debased through overprinting, and crypto is the good, because it has better controls on supply. But if this is the case, how will it play out?