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My point is that Bitcoin is no different from fiat. In fact, it can't be anything but fiat because it has no physical representation.
by benchmarkist 2y ago
My point is that Bitcoin is no different from fiat. In fact, it can't be anything but fiat because it has no physical representation.
- fixprix 2y agoFiat can be minted easily. Bitcoin cannot any faster than the rate that it is mined. Massive difference. And the key reason why the dollar continually depreciates.
- benchmarkist 2y agoFiat means faith and that's all you have with bitcoin, faith in the algorithms that make the ledger very hard to mutate without spending the required "effort" to "mint" the entries on the ledger. You can believe whatever you want but as I said previously you're better off convincing people to sell you services for your bitcoins instead of arguing with random strangers on the internet about cryptographic hashing functions.