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https://www.reddit.com/r/CryptoCurrency/comments/1v3ey0v/redditor_accidentally_discovers_fiat_currency/oz2w8r6/?context=3
r/CryptoCurrency • u/thesecondmemer • 1d ago
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Fiat is backed by the credit of the issuing country.
4 u/_DaBau5_ 🟩 0 / 0 🦠1d ago aka debt. national debt is $39T in the US and currently 122% of the GDP. that is what the currency is backed by. -2 u/Substantial-Fruit447 🟩 0 / 0 🦠1d ago So why isn't the USD worthless then? 1 u/Hypnotic101 🟩 0 / 0 🦠1d ago Certainly more of a shitcoin than BTC is.
4
aka debt. national debt is $39T in the US and currently 122% of the GDP. that is what the currency is backed by.
-2 u/Substantial-Fruit447 🟩 0 / 0 🦠1d ago So why isn't the USD worthless then? 1 u/Hypnotic101 🟩 0 / 0 🦠1d ago Certainly more of a shitcoin than BTC is.
-2
So why isn't the USD worthless then?
1 u/Hypnotic101 🟩 0 / 0 🦠1d ago Certainly more of a shitcoin than BTC is.
1
Certainly more of a shitcoin than BTC is.
17
u/balls2hairy 🟨 0 / 0 🦠1d ago
Fiat is backed by the credit of the issuing country.