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by pier25
2649 days ago
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> Of course, this coin only has value because of trust in JPMC I would not trust JPMC but fiat money (dollars, euros, etc) only has value because of trust in governments. "Fiat" is latin for "because I said so". I'm only half joking. https://www.merriam-webster.com/dictionary/fiat |
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That's not really true. the value of a currency comes from what you can do with it. E.g. I think $20k is a lot of money because I know it is enough to buy a car. That has nothing to do with the government, only the market.