RE: The Rise Of Bitcoin May Be A Warning, Ignore It At Your Own Peril. By Gregory Mannarino

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The Rise Of Bitcoin May Be A Warning, Ignore It At Your Own Peril. By Gregory Mannarino

in money •  7 years ago 

There is one similarity between Bitcoin and the dollar and it's a really bad one actually. Both are fiat, and are 100% backed by faith. Both have the capacity to revert to no worth at all. I believe the current system's failure will include a complete loss of faith in fiat.

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7 years ago by

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      ·  7 years ago (edited)

    Both are fiat

    Wrong. Fiat is government issued, fiat being Latin for let there be. A command from on high.

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