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A comment on Luna Cryptocurrency Collapse: How UST Broke. Parent comment

Re:Luna Cryptocurrency Collapse: How UST Broke by thrwyoilarticle on Friday May 13, 2022 @06:30PM (#31373201)
Another fun fact: Bitcoin is fiat. You can't redeem it for anything.
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Re:Luna Cryptocurrency Collapse: How UST Broke by jmyeet on Friday May 13, 2022 @06:33PM (#31373215)
Bitcoin isn't a fiat currency by definition. it's not issues by a government and is not legal tender. It's not even a currency. It's an asset.
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Re:Luna Cryptocurrency Collapse: How UST Broke by thrwyoilarticle on Friday May 13, 2022 @06:35PM (#31373227)
It's literally called bit-coin.
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Re:Luna Cryptocurrency Collapse: How UST Broke by jmyeet on Friday May 13, 2022 @06:38PM (#31373251)
And North Korea's official name is the Democratic People's Republic of Korea ("DPRK").

What's your point?

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Re:Luna Cryptocurrency Collapse: How UST Broke by thrwyoilarticle on Friday May 13, 2022 @06:44PM (#31373295)
The analogy fails because calling it Bitcoin implies a desire for it to be viewed as a currency, not an asset, in the same way DRPK implies a desire to be viewed as D, P and R.
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Re:Luna Cryptocurrency Collapse: How UST Broke by chii on Saturday May 14, 2022 @12:16AM (#31375040)
Fiat requires that a central authority declaring that it is.

Bitcoin, by design, has no such central authority.

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Re:Luna Cryptocurrency Collapse: How UST Broke by thrwyoilarticle on Saturday May 14, 2022 @05:13PM (#31382540)
No, it simply requires that it's not backed by a commodity.
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