[hn_throwaway_99]

> The key quality of a fiat currency is that it is spun out of air without intrinsic value.

... as imposed (that is, "by fiat") by some governmental organization.

Bitcoin's "true" value may be dubious, but it's most definitely not a fiat currency.

[bluetwo]

The type of organization that created it doesn't matter.

[hn_throwaway_99]

It absolutely matters, because fiat currency, by definition, has the full power of the state (i.e. legal authority, taxing authority, police/military authority) backing it. The same is not true of Bitcoin.