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Bitcoin is consumable so it doesn't actually qualify as a fiat currency. Independent of its USD exchange rate it can be used on the Bitcoin blockchain regardles
by boh 9y ago
Bitcoin is consumable so it doesn't actually qualify as a fiat currency. Independent of its USD exchange rate it can be used on the Bitcoin blockchain regardless of third party support. People seem to dissociate bitcoin as a digital object and see it merely as a tradable unit of currency.
- niceperson 9y agoYeah, that's a feature and it can be used that way, but is its price being justified by that alone? No, it isn't. Most of it comes from it's price relative to the USD which basically tethers it to the USD.