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RE: Why do you hate fiat said the cryptignorant
One could argue that Bitcoin is a completely different beast. It is not issued by a central bank, quite the opposite. It has a decentralized nature that makes it impossible to "print" more and manipulate its price. The "physical"aspect of it is nonexistent but it is backed by the mining operations, the blocks are limited and will become rarer as time passes. It is a type of digital gold, decentralized and rare.
Even Gold has no intrinsic value to it. You can't eat gold or build shelter with it, the value is what we believe it is. The difference from the fiat Dollar to Gold is that we can't just print or make Gold from nothing, just like Bitcoins it needs to be mined.
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I am not saying bitcoin is the same as money, just that they are both fiat currency. I am not saying gold has a value, just that one dollar represents one gold pound, or something else if it wasn't a fiat currency. A bitcoin doesn't represent one dollar or one piece of bread or anything, instead it is a fiat currency dictated by supply and demand for that currency.
Take a look at a snippet from Investopedia:
The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of. Historically, most currencies were based on physical commodities such as gold or silver, but fiat money is based solely on faith. Fiat is the Latin word for "it shall be".