MEME: Fiat

---

Fiat money is a currency without intrinsic value that has been established as money, often by government regulation. Fiat money does not have use value, and has value only because a government maintains its value, or because parties engaging in exchange agree on its value. It was introduced as an alternative to commodity money and representative money. Commodity money is created from a good, often a precious metal such as gold or silver, which has uses other than as a medium of exchange (such a good is called a commodity). Representative money is similar to fiat money, but it represents a claim on a commodity (which can be redeemed to a greater or lesser extent).

The first use of fiat money was recorded in China around 1000 AD. Since then, it has been used by various countries, usually concurrently with commodity currencies. Fiat money started to dominate in the 20th century. Since the decoupling of the US dollar to gold by Richard Nixon in 1971, a system of national fiat currencies has been used globally, with freely floating exchange rates between the national currencies.

---

[Previous post: Interesting facts (10/365) ]

---

One photo every day (56/365)
Campaign to get SBD listed on Binance
MUSIC: Carly Rae Jepsen - I Really Like You
Interesting facts (9/365)
MEME: Traders
Interesting facts (8/365)
Campaign to get SBD listed on Binance
Last Post - One photo every day (55/365)
Batman - One photo every day (54/365)
MUSIC: WALK THE MOON - Shut Up and Dance
MEME: Bitcoin
Interesting facts (7/365)
Campaign to get SBD listed on Binance

Interesting facts (6/365)
MUSIC: OutKast - Hey Ya!
Kobukan - One photo every day (53/365)
Campaign to get SBD listed on Binance
MEME: Rule 3
MUSIC: OK Go - I Won't Let You Down
Interesting facts (5/365)
The HODLer Manifesto
MEME: BTC-ers
Zelda - Link - One photo every day (52/365)
Campaign to get SBD listed on Binance
MUSIC: Wheatus - Teenage Dirtbag
Interesting facts (4/365)

---

This gif is the Great work of @skeptic Check out his work https://steemit.com/@skeptic, and say hello to him If you like his work consider upvote and following him :D

---

---

Thanks for reading me
If you liked or it was useful, do not forget to follow me, leave me your vote and if you want you can buy me a beer

with this you help me a lot and I can write content of better quality in the future.