[infecto]

BTC is fiat right?

[hgsgm]

It's decentralized fiat, so sort of hybrid between fiat and hard.

[Veen]

No, fiat currencies are backed by states and central banks. BTC has some of the qualities of fiat currency—no commodity backing, etc—but it's not usually classified as one.

[wonderwonder]

If it's declared legal tender by government declaration or fiat, it's fiat currency. Btc is fiat currency in el Salvador

[Veen]

It's legal tender in El Salvador. Whether that makes it a fiat currency is a matter of definitions, so not really worth quibbling about.

[wonderwonder]

I'm not quibbling. It's fiat currency in El Salvador by any definition.

[ashwagary]

Fiat money is created by decree without effort. Bitcoin is not "fiat" no matter who adopts it.

[wonderwonder]

It's fiat in a very limited number of countries. It's fungible.

[kylebenzle1]

BTC (one version of "Bitcoin") is a digital ponzi scheme for morons controlled by the for profit companies Blockstream and Bitfinx.

BCH, the original version of Bitcoin is a Peer-to-Peer Digital Cash network, a replacement of government "fiat" currency.