Bitcoin is more similar to fiat than gold-backed currency in this regard.
All I’ve tried to say is that btc is different from fiat in its “indirect” or “closer” connection to energy. I misused the word “backed”. You got me... This type of arrogance is what turns people off from the entire industry.
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My first respond to u was u aren't using correct definitions. U retort u have an economics degree. How can I address anything u say if u are using ur own definitions while implying\asserting they are standard?
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U are also using the word fiat wrong. I don't believe u have a degree in economics. And its ur fault for jumping at me for pointing out u aren't using these words correctly and so ur assertions can't useful meaning.
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the algorithmic regulation of computational power makes it exactly the opposite in reality. it is a type of super fiat
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Mark, but it would still be “indirectly” tied to energy in a way that fiat is not, no? (Algorithmic regulation aside)
End of conversation
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