Fiat equals able to produce more via printing..... this is not possible with certain crypto currencies....
If central bankers ushered it in, why did it start with a decentralized system....? You'd think they wouldn't introduce a piece of tech that is non centralized and out of their direct control...
No. Fiat currency means it is not backed by anything tangible. It's has value because various institutions SAY it has value (that is the "fiat" part). How more fiat currency is created has nothing to do with it.
The only currencies that have worked well historically for the long term have been backed by precious metals. Our current USD is called a "petro dollar" because it is backed by the value of oil... mainly due to Saudi Arabia agreeing to price their oil only in USD. That is how the USD became the world's reserve currency.
Catsfive clearly has his head up his ass regarding crypto... but he is not alone.
Fiat equals able to produce more via printing..... this is not possible with certain crypto currencies....
If central bankers ushered it in, why did it start with a decentralized system....? You'd think they wouldn't introduce a piece of tech that is non centralized and out of their direct control...
No. Fiat currency means it is not backed by anything tangible. It's has value because various institutions SAY it has value (that is the "fiat" part). How more fiat currency is created has nothing to do with it.
The only currencies that have worked well historically for the long term have been backed by precious metals. Our current USD is called a "petro dollar" because it is backed by the value of oil... mainly due to Saudi Arabia agreeing to price their oil only in USD. That is how the USD became the world's reserve currency.
Catsfive clearly has his head up his ass regarding crypto... but he is not alone.