This news content argues that Bitcoin is a form of fiat currency because its value is determined by the collective decision of individuals who use and validate it. Unlike traditional fiat currencies, which are backed by the authority of governments, Bitcoin derives its value solely from the consensus of its users. While Bitcoin is often described as digital gold or a commodity, the article asserts that it is not a physical raw material but rather a database that exists due to the arbitrary decision of its users. The article concludes that while Bitcoin may have unique characteristics and potential global economic impact, it is ultimately a form of stateless fiat currency.



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