[awt]

How could Gresham's Law apply to Bitcoin if it were not divisible? Or are you suggesting that comic books could be considered money (one property of which is divisibility) to the same degree as Bitcoin? Hopefully we agree that divisibility is not an "ostensible" characteristic of Bitcoin, but a "factual" characteristic of it?

Also your tendency to define things in binary terms (liquid/illiquid, value/no value) is troubling.

Why the struggle to pretend not to be able to tell the difference between Bitcoin and limited edition comic books?

[tptacek]

I'm not "pretending" anything. I think the difference is illusory, except for the fact that you can actually read the comic book, so it has some marginal real utility.