Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

What is a “fiat” currency? Are there other types of currency?
In short. A fiat currency is money that has value only because (usually) a government says it does.  A counter example (non-fiat currency) is a gold coin that has intrinsic value usually because it is made of valuable materials that people would trade goods/services. That is the value comes from what you are holding more than what it represents.