Cryptocurrency in simple details.

[BrianSoddingBoru4]

But I can already exchange commodities for fiat currencies (did so just yesterday, in fact). Why should I go through all the trouble of mining electricity?

Boru

Because America is not the first superpower anymore; other rivals came to the scene: now there is China and Russia, you also have the Islamic alliance that we saw manifesting in Malaysia in the Kuala Lumpur Summit. It is wise to admit that the "new world order" that America built is a mere "tiny political sleight-of-hand" that lasted only for 80 years since WW2's end.

Now the rest of the world started to rise; no one fights alone; America can never take out Russians, Chinese and Muslims in a row. It's common sense if you ask me; easy come easy go. 

That's why smart people began to look ahead of the collapsing currency (U.S dollar) of the collapsing empire (USA); and started to gather other currencies with real "commodities" backing them up.

What is the commodity of the fiat papers you hold in your hands?
That's the question you should ask yourself.

It’s backed by gold. So there. But I’m still not clear why my dollars need to be backed by anything.

Boru