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thrwyoilarticle
on May 13, 2022
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Luna Cryptocurrency Collapse: How UST Broke
Another fun fact: Bitcoin is fiat. You can't redeem it for anything.
jmyeet
on May 13, 2022
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Bitcoin isn't a fiat currency by definition. it's not issues by a government and is not legal tender. It's not even a currency. It's an asset.
thrwyoilarticle
on May 13, 2022
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It's literally called bit-coin.
jmyeet
on May 13, 2022
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root
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And North Korea's official name is the
Democratic
People's Republic of Korea ("DPRK").
What's your point?
thrwyoilarticle
on May 13, 2022
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The analogy fails because calling it Bitcoin implies a desire for it to be viewed as a currency, not an asset, in the same way DRPK implies a desire to be viewed as D, P and R.
chii
on May 14, 2022
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Fiat requires that a central authority declaring that it is.
Bitcoin, by design, has no such central authority.
thrwyoilarticle
on May 14, 2022
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parent
[–]
No, it simply requires that it's not backed by a commodity.
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