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To: dennisw

I have no doubt a lot of people have made real money with crypto. By any definition, however, any crypto is the “fiat-est” of fiat currencies.

No thanks


6 posted on 04/13/2022 5:29:10 PM PDT by muir_redwoods (Freedom isn't free, liberty isn't liberal and you'll never find anything Right on the Left)
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To: muir_redwoods

There are two meanings of the word “fiat” that are both implied when people refer to fiat currencies.

The first meaning is “faith”, as in, not redeemable for a standard unit of a commodity at a bank. I agree that crypto meets this definition.

The second is “at the stroke of a pen”, i.e. that more currency may be produced at will and without limit. Crypto does not meet this definition.

The US dollar satisfies both definitions, though.


10 posted on 04/14/2022 5:23:09 AM PDT by oblomov
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