Fiat

It is well documented by all Bitcoiners that without the fiat money system, Bitcoin would not have been created. Fiat money is what we use today in our local parts of the world such as US Dollars, British Pound, Euro, Australian Dollar etc.

This is money that is controlled by local governments and central banks with policies that can be changed in the blink of an eye. Unfortunately, the changes usually end up shafting the vast majority of every day people with inflation of every day prices of goods and services and thus reducing people’s purchasing power that we’ve all worked hard for.

Find out more about the history of fiat currencies and how we have ended up with a new monetary system with Bitcoin in this article.

If you’ve been following us on TBM for any length of time, you’ll see why we don’t like the fiat system and have opted out in to Bitcoin.