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fiat money

Bitcoin: A Fiat Currency?

fi·at n. 1. An arbitrary order or decree. 2. Authorization or sanction: government fiat. [Medieval Latin, from Latin, let it be done, third person sing. present subjunctive of fier, to become, to be done; see bheu- in Indo-European roots.] Robert Murphy, Austrian school economist who became better known in wider circles after challenging Paul Krugman […]

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Bitcoin in a nutshell

Bitcoin In A Nutshell …

The following are some definitions invented by participants of some Bitcoin-dedicated forums I occasionally frequent as a response to a challenge of defining Bitcoin and what it does in a nutshell. I’ve decided to put them together for your attention because I found some of them to be both accurate and insightful. “Bitcoin is the […]

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