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A comment on Another successful DAO attack recursive split. Parent comment

Re:Another successful DAO attack recursive split by mbrock on Sunday June 19, 2016 @01:03PM (#11933646)
Dictionary definitions of fiat money involve states that enforce the legal tender status of the money. In that sense, BTC is not fiat money.
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Re:Another successful DAO attack recursive split by abritinthebay on Sunday June 19, 2016 @02:08PM (#11933900)
True, "fiat money" would technically be "inconvertible paper money made legal tender by a government decree."

Bitcoin by contrast is "inconvertible digital money made legal tender by no-one because it's not legal tender".

So.. it's fiat in the sense that "by fiat" sense - which is where fiat money as a term comes from, but not in the strict "fiat money" sense of the phrase.

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Re:Another successful DAO attack recursive split by gnaritas on Monday June 20, 2016 @01:11PM (#11939388)
Fiat also means money that isn't a commodity or backed by a commodity. Bitcoin is fiat in this sense the same as USD. Additionally, the blockchain and it's rules are a form of government that is issuing bitcoin and thus it qualifies as government issued as well. You don't have to be a state to be a government.
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