#Fiat money is a government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it, hence it is backed by Bullshit!

Fiat and โ€œCryptoโ€ #Shitcoins are defined as Securitiesโ€ฆ

SECURITY โ€” Protection; assurance; indemnification. The term is usually applied to an obligation, pledge, mortgage, deposit, lien, etc., given by a debtor in order to assure the payment or performance of his debt, by furnishing the creditor with a resource to be used in case of failure in the principal obligation. Collateral given by debtor to secure loan. Document that indicates evidence of indebtedness.

Fiat is NOT money at all! #OptOut and take #SelfCustody of #PrivateKeys with #Bitcoin ๐Ÿ’ช๐Ÿผ๐Ÿค‘

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Well, fiat is certainly money in the sense that you can use it to actually buy things. Thatโ€™s not really true for bitcoin.

Do you buy things with land?

No, but nobody is claiming land is money. Also, land physically exists.

Fiat is certainly NOT money by definition.๐Ÿ‘๏ธ๐Ÿ‘๏ธ๐Ÿ‘๏ธ๐Ÿ‘๏ธ๐Ÿ‘๏ธ๐Ÿ‘๏ธ๐Ÿ‘๏ธ๐Ÿ‘๏ธ๐Ÿ‘๏ธ

That isnโ€™t accurate at all tho, thatโ€™s not how the federal reserve works, and there is government oversight.

Beat it!

The federal reserve?

Which dictionary are you using?

๐Ÿ˜ฑ๐Ÿ˜ฑ๐Ÿ˜ฑ๐Ÿ˜ฑ๐Ÿ˜ฑ๐Ÿ˜ฑ what the frig, why is nobody talking about this

I am.