I have been studying the difference between Fiat and Bitcoin but I still get it twisted to understand what a Fiat mean, I would like the experienced members here to tell me the difference, I got to understand what a Bitcoin is all about but still confused on Fiat .
Thank you all
Just to add to what other members have said.
Fiat is the physical paper/coins money that approved as legal tender by the government of the country. In other words, they're money backed by the government. The naira, Euro, dollar are all fiat's. Its completely under the governments control and they can always print at will.
And from what have read, the word fiat as I have been thinking isn't even an English word but Latin. It's more like a decree or would authority.
Bitcoin you already know, so basically bitcoin could be said to be the opposite of fiat by features.