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moralsupply | 5 years ago

A mafia or some other organization capable of enforcing rules over people could create a fiat currency too.

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danShumway|5 years ago

Again, what can you point to saying that's the definition of a fiat currency? This Wikipedia article does not mention a mafia. It mentions:

> parties engaging in exchange agree on its value

That's Bitcoin. That's what Bitcoin is.

o_p|5 years ago

Then any currency would be fiat making the word meaningless. Bitcoin haves an intrisic value like gold, the energy it takes to create a btc. Fiat money can be made out of thin air as the fed can just print more money

moralsupply|5 years ago

Go ahead and call Bitcoin a "fiat currency" if that suits your narrative.

Don't be surprised if some people laugh at your face, though.