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Why do many in the crypto community spell 'fiat' in all caps as 'FIAT'?

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by COINS NEWS 25 Views

I used to think it was just Bitcoin maxis but I've seen it used in the altcoin community too.

When I see it in all caps, it looks like a certain Italian car manufacturer. But I'm sure no one is getting the concept of government-issued money mixed up with an automotive company whose reputation is for making small cars.

So I'm assuming it's part of an in-joke, a slur on the idea of printing money by decree. Is there some sort of meme-y acronym they claim it stands for? Or maybe there's a backronym like 'HODL'?

Someone care to let me in on the joke?

submitted by /u/thetan_free
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