(IJCH) To Gresham or Not to Gresham, that is the Question?! Why HODL Actually Hampers Mainstreaming

in cryptocurrency •  7 years ago  (edited)

(IJCH) To Gresham or Not to Gresham, that is the Question?! Why HODL Actually Hampers Mainstreaming

IJCH - Inside JaiChai's Head, meaning: my warped, personal opinions and musings.

From the Author

Salutations

I am JaiChai.

And if I haven't had the pleasure to make your acquaintance, it's very nice to meet a fellow Steemian.

Feeling Like Nostradamus

Definition of Gresham's Law:

"In economics, Gresham's law is a monetary principle stating that "bad money drives out good". For example, if there are two forms of commodity money in circulation, which are accepted by law as having similar face value, the more valuable commodity will disappear from circulation."

( https://en.m.wikipedia.org/wiki/Gresham%27s_law )

A couple of years ago, I wrote: IJCH: Cryptocoins and Thrive-ability - To Gresham or Not to Gresham, that is the Question?!

In the article, I pointed out that hoardng, currently called HODL - Holding On for Dear Life, will hamper mainstreaming cryptocurrencies.

From the article, I state:

"...Think of it. Think hard. The 'Thrive-Ability' of any cryptocurrency hinges upon its network's growth.

...helping Gresham's Law become a self-fulfilling prophecy does no good in adding value to whichever token you presently fancy.

Using it does."

Now coindesk.com publishes this:

https://www.coindesk.com/why-hodling-is-hobbling-bitcoins-prospects-as-a-common-currency/

Imagine that?

Kinda sad that it takes years for some of my opinions to be validated.

(Heavy Sigh)

By JaiChai

Many thanks for reading my post. And if you enjoyed it, please: Upvote, Follow, Comment and Resteem. - JaiChai "My mind was a terrible thing to waste..."

About the Author

JaiChai has been in the cryptocurrency space for over 6 years. He is an enigma, regarded by his cohorts as sarcastic, funny, intuitive - but most of all, elusive. JaiChai alternates long dormant periods with concentrated episodes of frenzied commentary - only to go silent again. He’s known for randomly submitting philosophical and contrarian posts on most cryptocoin forums.

When asked about his vanishing acts, he says, "I’m just somebody who enjoys being nobody because I look like everybody. Besides, time checking things off my 'bucket list’ - sans notoriety - is time well spent."

cryptocurrency money bitcoin nostradamus mainstreaming
7 years ago by

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      ·  7 years ago 

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