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Author Topic: What is Fiat?  (Read 161 times)
weblouartisan
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June 10, 2018, 01:00:43 PM
 #21

Almost all everyday, I come across fiat on bitcointalk forum which get wondering why people normally use that term in relation to crypto currency. I decided to do research on the word but did not get the concept well. Since the word is circulating in bitcointalk forum and my searches are not helping to understand the concept of fiat better, I am sure the forum will help me understand it better this time around. Guys, I want to know much about the concept of fiat and what fiat has got to do with crypto currency.

Fiat is used to determine the cash of a country, it was a terminology that is being widely used by common people who are in the cryptocurrency world.

shaheer001
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June 10, 2018, 01:05:24 PM
 #22

Fiat money is paper money which a govt of any country declare as legal currency of that country like Dollar.Euro,Rupee etc. Fiat is the currency which has legal tenders used officially for purchasing goods etc.

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June 10, 2018, 01:39:13 PM
 #23

Fiat is the currency , the money that is used by the countries  issued by their banks and government .
Bitcoin and other cryto currencies are commonly compared to the "fiat" because the analisation of price is done on that basis only .
Since USD is widely popular throughout the world it is mainly compared to that only . Many ICOs sets a goal of getting a price opposite to USD through their coin.

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June 10, 2018, 08:31:47 PM
 #24

Fiat-This is cash, which is circulating in the country, cash, and also it is the brand of the car. Wink
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