From: "E. ALLEN SMITH" <EALLENSMITH@ocelot.Rutgers.EDU>
Date: Wed, 29 Nov 1995 02:33:58 +0800
To: frantz@netcom.com
Subject: Re: Bitbux could eliminate some domestic currencies?
Message-ID: <01HY6DKHWT5S8WYPWJ@mbcl.rutgers.edu>
MIME-Version: 1.0
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From:	IN%"frantz@netcom.com" 27-NOV-1995 02:55:15.66

Gresham's law says that the bad money drives the good money out of
circulation.  Does this mean that real cash is better than ecash ;-).
------------------
	You may realize this (due to the smiley), but what Gresham's law says
is that hard to distinguish bad money druves good money out of circulation. If
something is distinguishable, then it works the other way around (see the
replacement of the ruble by the dollar in pre-modern Russia, for instance).
	-Allen