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78 percent of Bitcoin currency stashed under digital mattress

http://arstechnica.com

More than three-quarters of the digital coins in the Bitcoin digital currency scheme aren't circulating because they remain dormant in user accounts that have never participated in outgoing transactions, a recently published study has found.

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roryn3kids's picture
Created by roryn3kids 1 year 26 weeks ago – Made popular 1 year 26 weeks ago
Category: Money   Tags:

Gresham's Law

workingclasshero 1 year 26 weeks 2 days 7 hours ago

If a currency is being hoarded it's typically a good sign for the currency. Bad money pushes out good money. Meaning people feel like it's good money and hoard it and try to pass off their bad money "fed notes". In late roman times copper coins and silver coins were severely debased, but Constantine's pure gold solidus's standard was rigidly maintained, as a result is was hoarded by the rich because their wealth would not be effected by rampant inflation.

I have a box full of those little copper coins, nearly as worthless as they were 1700 years ago.

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