[dragonwriter]

> just a minor nitpick, but bitcoin is also fiat currency.

Bitcoin is not "fiat currency" by the most common definition(currency whose value is supported by the mandate -- or "fiat" -- of a government for its use in certain domains, but which is neither a directly-useful commodity on its own nor backed by a promise of exchange for a commodity.)

Bitcoin is "fiat currency" by another broader definition ("currency that is neither a generally-useful commodity on its own nor backed by a promise of exchange for a commodity"), which has historically largely been equivalent to the more common definition, because prior to Bitcoin and similar cryptocurrencies, no one was using unbacked currency that weren't supported by government fiat.

Its probably better to use a different term for the broader definition, since there is no fiat necessarily involved, there are meaningful differences between unbacked currencies supported by government fiat and those that aren't, and there are now meaningful examples of unbacked currencies without the support of a government fiat.