"Bitcoin is the worlds only free independent online digital currency and payment system."
Unlike FIAT currency (in its usual meaning.)...
'Usual meaning' is potentially problematic. There appears to me to be two distinct commonly used meanings for the term 'fiat currency', one of which is the 'normal' meaning for economists who use it to mean an 'unbacked currency'; the other is 'currency used by decree'. Depending on which you mean, Bitcoin is or isn't fiat.
This does not seem to be an issue upon which people are happy to agree to disagree. Among forum users here it is generally the latter meaning ('by decree) that is meant when used to distinguish Bitcoin from currencies issued by governments. This meaning is defended passionately by those looking to dictionary definitions and the derivation of the word.
Then there are those who use the term in its more common usage outside of the Bitcoin community, which I'd guess is also overall the most common (or technically, 'usual') meaning. I would guess it is for historic reasons that this usage has become commonpace because prior to Bitcoin the only 'unbacked' currencies that could survive were those whose use was by government decree. They were, and some would argue, still are corollaries. One could safely use 'fiat' to mean 'unbacked' because all surviving unbacked currencies were also 'fiat' in the stricter sense of 'by decree'.
So whilst those who use it as 'by decree' tend to think it outrageous someone could use it to mean 'unbacked' because it tarnishes the 'purity of Bitcoin' with the same brush as government issued money, those who use it in the more common (arguably sloppy) use in economist circles tend to be a bit lofty, disparaging and even insulting (see above) of those who use it as 'by decree'.
Sorry the whole of this post has been off topic. I'm just following through from the multiple 'fiat' commentary which is actually quite funny seeing as you didn't use the term 'fiat' in your introduction in the first place. It only came about in the form of advice
not to use it! Then everybody (including me) stuck our oar in.
...so you can be sure your coins should hold their value.
***WARNING*** Alarm bells should be ringing when you read or write something like this. You
can not be sure Bitcoin will hold their value simply because scarcity is only one factor of many that determine value (whether you mean in realtion to other currencies or to goods/services). The scarcity element means it is not prone to the same inflationary pressures as fiat currency
but be very wary of believing, let alone claiming, that this necessarily means it will hold its value.
