Now explain to me, using that definition, what is the difference between commodity money and fiat money?— Matt 🇬🇧🇵🇱🇺🇸🇨🇩 (@MattStirner) March 11, 2022
The 4 different types of money as classified by the economists are commercial money, fiduciary money, fiat money, commodity money. Money whose value comes from a commodity of which it is made is known as commodity money.
The Iranian Rial is the least valued currency in the world. It is the lowest currency to USD.
1. What is the difference between #fiat currencies and #cryptocurrencies?#Cryptocurrencies are ‘commodity money’, that consists of objects that have intrinsic value in themselves as well as value in their use as a medium of exchange.#behaviouraleconomics— Andrey Verbitsky (@AndreyVerbitsky) May 30, 2019