Neither bitcoin, nor cryptocurrency, nor virtual currency, the kronicle is good old-fashioned fiat money. That means it's money because a government says it is. In this case the government is me, as I have been a sovereign nation (Mykronesia) for 16 years. As part of my independence day festivities on July 26th, I created new 50 kronicle notes with a security feature disguised as a ladybug. I've done a lot to curb inflation over the years, including re-domination, and as of 6am EST on July 28th, 2014, the kronicle will once again be pegged to the Chinese yuan. Learn more about the kronicle here.
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