Re:Bitcoin becomes Legal Tender in El Salvador
by ben_w on Wednesday June 09, 2021 @04:27AM
(#27445553)
I think you’re mixing up “fiat currency” with “legal tender”. The former being “money created and backed by the power of a government” and the latter being “money which a government says courts are required to recognise when offered as payment for a debt”.
If we were on the gold standard, gold would be legal tender, even though it isn’t fiat.
If we were on the gold standard, gold would be legal tender, even though it isn’t fiat.