Bitcoin, Gresham’s Law, and the Evolution of Currency Behavior
As the landscape of global economy continues to evolve, certain financial principles remain applicable even with the passing of centuries.
As the landscape of global economy continues to evolve, certain financial principles remain applicable even with the passing of centuries.
In the realm of economics, the term “hard money” has traditionally referred to currencies backed by tangible assets such as gold or silver.
A careful framework for Bitcoin value: what proof of work, scheduled issuance, utility, network effects, and mining costs can – and cannot – say about market price.
Last reviewed August 29, 2026.