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Is fiat currency any different? My coins and bills don't have any intrinsic value either, but they are still currency.
by colejohnson66 5y ago
Is fiat currency any different? My coins and bills don't have any intrinsic value either, but they are still currency.
- not2b 5y agoIf your debts and bills are denominated in the currency of your country, the bills and coins have value because you know how many of them you need to pay what you owe. So yes, if we ever got to the stage where your rent is priced in some coin, that coin would correspond to a currency. But until then, it's more like a volatile stock and "currency" is a misnomer.