> Traditional fiat currencies are fundamentally designed to be a proxy for real ... | Hacker News

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		johndevor on March 12, 2024 \| parent \| context \| favorite \| on: Biden proposes 30% tax on crypto mining > Traditional fiat currencies are fundamentally designed to be a proxy for real world value. The US went off the gold standard in 1971. It's all just bullshit paper now. I'm not sure why you're talking about something that doesn't even exist today. I'd love it if "traditional fiat" currencies existed as you describe, but they don't.

rcxdude on March 12, 2024 [–]

You seem to have completely misunderstood the poster. Gold-standard US-dollar is not a fiat currency, present-day US dollar is a 'traditional fiat'.

johndevor on March 12, 2024 | [–]

Not really. Point still stands. Nothing like a traditional fiat exists today and his point is just wishful speculation.

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