Quote from: teukon on February 07, 2015, 07:37:29 PM

Quote from: amspir on February 07, 2015, 05:55:40 PM

In my opinion, Bitcoin is the ultimate fiat currency, since it has no inherent value (you can can't use it for anything other than paying someone else bitcoin). It is a currency issued by "decree" through a protocol enforcing a consensus of users and miners.

The term "fiat" in this context describes the root of the value of a currency, not its issuance.

And the root of the value is? Without a network of computers and people and businesses willing to trade it for something of value, what exactly is that value?