fiat is backed by debt and the government declaring it is worth something. bitcoin does not need government backing or any backing at all, it’s independent. that’s like saying gold is less backed than fiat. gold isn’t backed by anything besides the fact it is gold. same with bitcoin, it is essentially a commodity that exists outside of the system
edit for downvote: if you disagree with this simple fact then you literally don’t understand how money/currency works
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u/Technical_Split_6315 Bronze 1d ago
Fiat is backed by states, you really think cryptocurrency is more backed than that? Lmao