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>but ethereum/bitcoin aren't fiat currencies? Fiat currencies are created by fiat (legal declaration). No government created either, so no, they are not fiat c
by ty_a 9y ago
>but ethereum/bitcoin aren't fiat currencies?
Fiat currencies are created by fiat (legal declaration). No government created either, so no, they are not fiat currencies.
- beberlei 9y agoyou can assume that the bitcoin/ethereum code-base are the modern/digital version of a legal declaration. But I meant in the sense that they don't have intrinsic value like gold.
- polotics 9y agoWell you cannot eat, drink or breath gold either... Gold is impossible to fake, but ETFs based on double-counted collateral and various other fixing fixes have made it a fool's errand to preserve capital with gold.