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Can you point to any indicator that it's anything else? EDIT: https://en.wikipedia.org/wiki/Fiat_money https://en.wikipedia.org/wiki/Fiat_money
by oh_my_goodness 4y ago
Can you point to any indicator that it's anything else?
EDIT: https://en.wikipedia.org/wiki/Fiat_money https://en.wikipedia.org/wiki/Fiat_money
- tsimionescu 4y agoIs there a central bank that can print or sell Bitcoin to stabilize its price? Is there a central bank that can set rates for BTC credits and deposits? If not, in what way is BTC a fiat currency?
- oh_my_goodness 4y ago"Fiat" means it didn't exist until somebody said "this is money". https://en.wikipedia.org/wiki/Fiat_money https://en.wikipedia.org/wiki/Fiat_money
- sesm 4y agoDoesn’t a network that allows money transfer world-wide constitute ‘use value’?
- rightbyte 4y agoHah ... nice. Interesting. So Bitcoin was a fiat currency all along.
- tsimionescu 4y agoThat's not exactly true, since representative money work in a similar way. Also, coins eith a fixed possible supply, such as Bitcoin, act more like commodities than fiat money.
- rurp 4y agoIt's neither controlled by government fiat, nor is it commonly used to buy 99.99% of the things people use real currencies for.
- CaptainZapp 4y agoYes, I totally can. Bitcoin and other crypto is definitely not fiat currency, because virtually nobody will sell me a pack of cigarettes or a croissant for crypto currency.
- not_enoch_wise 4y agoBuuuut I bet there is an NFT of a croissant smoking a cigarette