4 ms·
"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
by 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.