[PreciousLiberty]

"A fiat currency is any currency that is backed by trust and not backed by a hard currency such as gold, silver, palladium, or other such commodity."

Oxford Dictionary definition of "fiat money" (I'll ignore the "paper" part - after all a whole lot of US dollars exist only in computer memories...):

Inconvertible paper money made legal tender by a government decree.

Note the word "government". That's the biggest difference with BTC - it's independent of any government. It may well outlive almost all other current currencies.

[P-Marlowe]

That's the biggest difference with BTC - it's independent of any government. It may well outlive almost all other current currencies.

Not a chance. Dream on. It won't make it into 2015.

It's a ponzi scheme and you are a sucker.