Cryptocurrencies have value because of the tech and networks that support them. Fiat currencies have value because of sovereign fiat (legal tender laws). These two things are mutually exclusive. “Fiat cryptocurrency” is not a thing.
You are viewing a single comment's thread from:
I guess it depends on how you outline cryptocurrencies.
Tether is (as their website states) a "digital currency" or "digital token."
I guess the main distinction to draw there is that cryptocurrencies fit all the qualities of money, whereas fiat currencies do not (particularly store of value).
the tech supporting cryptos doesn't provide them with intrinsic value. It would be the same as saying that fiat currency have value because of the quality of their paper and the difficulty of printing fake bills.
While I suppose it is possible to believe that, say, Bitcoin has value because other people think it has value, it's clearly naive to say that the world's largest supercomputer burning more than fifty terrawatts of electricity has no value and does not lend any to the network/currency that runs on top of it.
Both fair arguments and impossible to prove.
I prefer to think of FIAT cryptocurrencies as centralized cryptocurrencies. Actually, in my opinion, there is nothing wrong with this. However, speculating on centralized cryptocurrencies is entirely different and depends on the central authority and the FIAT. I have no issue with national currencies using blockchain and decentralized ledger to have a digital version of their currency. A few nations are looking into this and it will have a lot of benefits.
Yeah, national cryptocurrencies would be my ideal situation...anewequationofexchange.info. I think it would change the world as we know it in so many positive ways we can’t even see them all.
!BEER
View or trade
BEER.Hey @abitcoinskeptic, here is a little bit of
BEERfrom @definethedollar for you. Enjoy it!Learn how to earn FREE BEER each day by staking your
BEER.