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USD is gov-fiat, decreed by the laws ("legal code") of government. Bitcoin is crypto-fiat, decreed by the laws of cryptography and computer code (Lawrence Less
by kylebrown 13y ago
USD is gov-fiat, decreed by the laws ("legal code") of government.
Bitcoin is crypto-fiat, decreed by the laws of cryptography and computer code (Lawrence Lessig's "code is law").
- Dylan16807 13y agoUSD is used outside the US plenty. A lot of its value is simply people preferring to use it, the same kind of potential value that bitcoin has. And that value works with or without cryptography and math and code, so I find crypto-fiat a silly term. All it needs is a ledger, and crypto is merely one (rather secure) method of creating one.