Unless its backed by something of real value that can't be mass minted or printed (gold, silver, platinum, cooper, rare gems, etc) its a fiat currency. Unless I can take a bitcoin down to a bank or reserve and exchange it for something of real value its a fiat currency.
http://www.theverge.com/2014/3/21/5533272/mt-gox-missing-bitcoins
The bitcoin is just a complicated fiat ponzi scheme like the USD.
Give me gold and silver any day.
LOL
Gold and silver only have real value if you're a dentist, or printing circuit boards, etc.
Diamonds are only good if you're making drill bits or cutting blades, etc.
Give me cattle or wives, FTW!!!
http://www.moneynews.com/Economy/states-gold-silver-coin/2013/02/07/id/489288/
The article is from 2013... since then Utah, Arizona, and Oklahoma have passed laws that allow gold and silver to be used as legal tender. Virginia is in the process of making their own State Gold and Silver Coins. Currently Texas, Georgia, Nevada, Oregon, Alaska, Alabama, and South Carolina have bills to also legalize the use of Gold and Silver as legal tender.
Gold and Silver retain their value because you can't print more of it.
America like all of the other Empires before is collapsing under the weight of its Empire. It will be in the dust bin with the other failed Empires before we know it.