[XorNot]

What is Bitcoin but a collectivist agreement that something has value? Those bits aren't reimbursable. You can't get that electricity back for them once it's spent - unlike gold, which holds some real world value by virtue of being the element it is.

Bitcoin advocates rage about fiat, while trading the ultimate fiat currency since it doesn't take too many people deciding they don't want Bitcoin (say: landlords, farmers/wholesalers) before the currency is useless.

[vertex-four]

Actually, fiat money means something else. According to Wikipedia: "Fiat money is currency which derives its value from government regulation or law".[0] It doesn't mean "currency which derives its value from a collectivist agreement".

[0] http://en.wikipedia.org/wiki/Fiat_money