Post
Topic
Board Economics
Re: Semantics of "fiat"
by
Erdogan
on 15/02/2015, 00:26:21 UTC
That's right. I am also aware that the word is used nowadays to describe paper money.

Fiat paper money and bitcoin both have no value for direct use, that is probably the connection, but bitcoin is not fiat.

Then you do realize that this is an informal and highly inaccurate use of the term, and not the technical definition used by economists.

War is peace, my friend.



No, the technical definition is what I wrote above. And war is certainly not peace, why would you say that?