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Just focusing on the title, I think it revolves around the exact definition of the word "fiat".

Bitcoin is/was created by decree (newly mined coins come out of thin air via an algo that humans invented), however it requires substantial investment / work to get there.

Really 'digital commodity' is probably a better overall fit.

I used to work for a company whose motto was "we enable the electronic enterprise"

we built websites in 1999

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