I often encounter articles where we talk about bitcoin being a fiat currency. What is a fiat money and what is it that bitcoin as to be considered a fiat money.
closed as off topic by David Perry Jan 26 '13 at 22:32
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Fiat money is money that derives its value from government regulation or law. The term fiat currency is used when the fiat money is used as the main currency of the country. The term derives from the Latin fiat ("let it be done", "it shall be").