> Fiat is backed by tax base. The general form of this is, it's backed by something that will accept it as payment. But then the same is true of non-fiat curre

> Fiat is backed by tax base. The general form of this is, it's backed by something that will accept it as payment. But then the same is true of non-fiat currencies. The value of a currency is simply, what can you get when you spend it?