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Fiat money is not the same thing: - anyone can issue Bitcoin - if anyone accepts Bitcoin they accept it regardless of origin With fiat money, there are additi
by AstralStorm 7y ago
Fiat money is not the same thing:
- anyone can issue Bitcoin
- if anyone accepts Bitcoin they accept it regardless of origin
With fiat money, there are additional rules to limit money laundering and theft. (e.g. paper trail audit rules and special markings on banknotes - money matching these laws is not to be accepted)
Plus you cannot just issue say Zimbabwe dollars anywhere, that's considered a forgery. Likewise you can only issue Bitcoin if you do manage to notify the decentralised ledger that you have mined it. (Which is why verification is slow.)