Comment: The ONLY characteristic that doesn't fit is Government mandate

In post: Bitcoin Reaches All Time High Market Capitalization

In reply to comment: Bitcoin is Fiat? (see in situ)

The ONLY characteristic that doesn't fit is Government mandate

Submitted by rp4pres on Fri, 02/08/2013 - 17:52. Permalink

It has all of the other fiat characteristics.

Created out of thin air..
No intrinsic value...

So it is not backed by Gold or Silver or anything.

Just because we are told anyway, that some average Joe created it doesn't negate it's fiat status.

—

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