Sentences with phrase «physical fiat money»
When buying products online or in the store, most people still use physical fiat money like dollars or euros, and bitcoin was the first real blockchain product to offer an alternative.
http://www.coinfox.info/ Not exact matches
by The banking - government industrial complex has been pulling the wool over investors» eyes for years when it comes to getting the masses to keep their savings tied up in ever rapidly devaluing fiat currencies instead of intelligently converting them into the only real money out there — physical gold and physical silver — that has -LSB-...]
The definition of «fiat money» is a currency that is legal tender but not backed by a physical commodity.
Because fiat currency (AKA paper money) helps build up a country's debt, and physical gold is the only form of payment to counter this.
From a purely physical point of view and without any moral judgment, fiat money is reversible thanks to the centralized nature of the banking system.
A currency can be considered fiat when the same can be issued by the Central Bank digitally for being tossed around in cyber space without banking on the use of physical money.
The value of fiat money isn't directly held in a physical asset like a precious metal or an item that's of use to someone.
This solution enables physical store owners to use either cryptocurrency or fiat money to complete transactions on the blockchain.
A fiat currency, like the US Dollar, is a currency that is backed by the government that issues the money but isn't backed by a physical commodity.
With these machines, the user shows up to a physical location and either a) buys Bitcoin using fiat currency and has it sent to a Bitcoin wallet or b) sells Bitcoin from the atm to withdraw fiat money.
When one of the users pointed out that fiat currencies can also be used for illegal activities such as money laundering, tax evasion, terrorist funding, and drug purchases, Gates said that the necessity of a physical presence makes illicit activities and transfers more difficult: