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.
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.