[danShumway]

Again, what can you point to saying that's the definition of a fiat currency? This Wikipedia article does not mention a mafia. It mentions:

> parties engaging in exchange agree on its value

That's Bitcoin. That's what Bitcoin is.

[o_p]

Then any currency would be fiat making the word meaningless. Bitcoin haves an intrisic value like gold, the energy it takes to create a btc. Fiat money can be made out of thin air as the fed can just print more money

[danShumway]

> the energy it takes to create a btc

Sounds good. How do I convert my bitcoin back into electricity? Is there a Python function for that or something? Would be very useful to have on hand during blackouts.

I mean, that's the whole point of the article we're commenting under. Bitcoin is not a battery, it is a sink. You can't get the electricity back.

Not to mention that if the value of Bitcoin was actually determined by its electricity cost, then Bitcoin and Etherium wouldn't be making moves right now towards Proof of Stake.

[moralsupply]

Go ahead and call Bitcoin a "fiat currency" if that suits your narrative.

Don't be surprised if some people laugh at your face, though.