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You don't know what fiat actually means. Fiat means, in a short and sweet manner, the government can force you to use it. No one can make you use bitcoin. If th

• quesera 13y ago
  > Fiat means, in a short and sweet manner, the government can force you to use it. Fiat, both from the original Latin, and in practice, means "it shall be". In the case of money, it means that the token has no intrinsic value, and is not directly convertible into a backing resource with value. Its only value is that given to it by decree of the issuer. There is no component of government compulsion in the definition. In practice, some fiat monies are the only accepted legal tender currencies for some purposes (e.g. taxes) but it is not a requirement. A successful fiat currency implies that there is acceptance among users in its fiat value, and some of the most historically effective ways to get people to go along with your assertions boil down to making ultimatums backed up with sharp sticks.