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The aside in the third sentence really bugged me. It seemed to imply that Bitcoin isn't a fiat currency, but considering it, like the US Dollar which it mention
by dkuntz2 13y ago
The aside in the third sentence really bugged me. It seemed to imply that Bitcoin isn't a fiat currency, but considering it, like the US Dollar which it mentioned, doesn't have any intrinsic value, isn't it also a fiat currency?
- bencoder 13y agoDepends what is meant by being "fiat". Most people consider fiat to be government/state created money rather than just having no intrinsic value. 3 definitions listed here: http://en.wikipedia.org/wiki/Fiat_money http://en.wikipedia.org/wiki/Fiat_money I think the intrinsic value argument is pointless. Gold for example, has some value outside of it being a medium of exchange, but the price of gold is very divorced from its usefulness in industry or its attractiveness so the fact that it has "intrinsic" value doesn't mean much.