top | item 26612328 (no title) moralsupply | 5 years ago A mafia or some other organization capable of enforcing rules over people could create a fiat currency too. discuss order hn newest 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 valueThat'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 load replies (1) 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.
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 valueThat'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 load replies (1) 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.
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 load replies (1)
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.
danShumway|5 years ago
> parties engaging in exchange agree on its value
That's Bitcoin. That's what Bitcoin is.
o_p|5 years ago
moralsupply|5 years ago
Don't be surprised if some people laugh at your face, though.