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Mining bitcoin for fiat is not its purpose.

• minimaxir 11y ago
  The alternative is to just buy Bitcoin with fiat instead of running random hardware from a startup for days to get any meaningful value.
• seiji 11y ago
  I believe it's called "money." As in, "I wish to exchange my fantasy internet points for money."
  • VMG 11y ago
    > I believe That's why it is called "fiat"
    • teraflop 11y ago
      That's a snappy one-liner, but "a currency which has value because people believe in it" applies just as well to Bitcoin as it does to the US dollar.
      • jfb 11y ago
        It also doesn't make any damn sense, given that "fiat" is Latin for "let it be done", not "I believe".
• detaro 11y ago
  Why is "USD worth of Bitcoin" not a reasonable approximation for the value you get from the bitcoins it generates?