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Analysts from one of the fed banks called bitcoin is an example of Fiat money

Researchers from the Federal reserve Bank of new York wrote an article in which he said that bitcoin is one of the classes with Fiat currency. That is actually the largest digital currency is a new financial tool.

The coin is used as a regular means of payment. The researchers divided the money into three types – Fiat currency and currency that has security in the form of real assets and rights.

The article says that the real value of any money depends on the amount of goods and services, which can buy their holder. In this respect, bitcoin acts as a regular payment instrument, as well as other money.

The only difference is the fact that BTC is a new format of exchange of money for goods. This mechanism lies at the heart of any digital currency, including stabilini and tokens.

A key feature of the system is the absence of intermediaries in the transfer of funds. The money can be transferred directly to the recipient without the involvement of a third party, for example, payment operator, said analysts.

Federal reserve, a critical bitcoin. Recently, the head of Reserve Bank of Minneapolis Neil Kashkari pointed to the risks of investing in BTC and call this asset the “trash”.

Source:

coinspot.io

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