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only way to deal with those corporations will be through Bitcoin (that’s right, they won’t, or rather can’t, accept fiat like US Dollar) Bitcoin is fiat.
by mmanfrin 13y ago
only way to deal with those corporations will be through
Bitcoin (that’s right, they won’t, or rather can’t, accept
fiat like US Dollar)
Bitcoin is fiat.
- oleganza 13y agoIt is not a fiat in a sense "imposed by the ruler". The point of fiat is that someone has control over it. Bitcoin is exactly like gold: people simply agree that it has some value for them, without anyone forcing them to accept it as payment.
- vinceguidry 13y agoIt's pretty much the opposite of fiat. A fiat currency can have its value directly manipulated by the issuing state through excessive currency issue or regulation, manipulation by 'fiat'. Bitcoin is only worth what people think it's worth. It's not regulable in the sense a national currency is and the supply is controlled not by state actors, but an algorithm.