Have I Been Pwned: Pwned websites
haveibeenpwned.com
Have I Been Pwned allows you to search across multiple data breaches to see if your email address or phone number has been compromised.
  • Breach date: 16 October 2024
  • Date added to HIBP: 7 November 2024
  • Compromised accounts: 420,961
  • Compromised data: Email addresses, Usernames
  • Echo Dot@feddit.ukEnglish
    1·
    2 months ago

    It just means that it is a representation of some other wealth. Gold isn’t fiat because gold itself is the thing that has value, currency is fiat because it is a representation of value not in and of itself valuable.

    All currency is by definition fiat because all currency is a representation of value. And the crypto Bros keep telling us that bitcoin and similar are currency so they are therefore fiat.

    • ililiililiililiilili@lemm.eeEnglish
      1·
      2 months ago

      Value of anything only exists in the minds of humans. No value is inherent to anything. You’re absolutely correct that gold isn’t fiat. But gold could absolutely be used as currency. Its in circulation and used as a medium of exchange. You’re also right that crypto is a currency. But its not a fiat currency. Crypto and fiat are both mediums of exchange not backed by a commodity. The key distinction is that fiat also relies on trust from the issuing institution.