All money is fiat money, yes even gold, people quibbling over different types of fiat are just showing they know no history.
All money may be “fiat money,” but would you rather hold the currency issued by a supercomputer sitting somewhere you don’t even know, or the currency issued by a global superpower with a dozen aircraft carriers and thousands of ICBMs?
well, no, the “fiat” aspect is that some government decrees (aka fiat, a decree) the value. Now the actual value of money is a product of a consensual reality. Conversion rates and prices just reflect quantifiable buy-in to the consensus...