Cryptocurrency in simple details.

[Spongebob]

I want to say something that's a little off topic for this thread regarding US dollars. Despite the relative good living standard that Americans have enjoyed over the last few decades, we've experienced a good deal of inflation that has gone largely unnoticed except for where wages are concerned. Average inflation year over year has been very low for around 30 years, however, that little bit adds up. Because we've shifted so much production of durable goods and non-durable goods to countries paying poverty wages and we've automated to much production, we've been able to keep some buying power. Yet things that can't be outsourced, like homes and college degrees, have soared in price. So a $4/hr job in 1965 would buy way more than a $10/hr job today even though some of those things seem relatively cheap. There's another thread where someone mentioned how it's cheaper to buy a new washer/dryer than to fix a broken one. That's true because of cheap overseas labor (and automation) even though the US dollar has eroded significantly over the years.

So, I said all this only as a tangent to inflation and fiat money. Our economy is global whether we acknowledge it or not. And the US dollar is the primary currency because of the relative strength of the US economy, but it is not impervious to outside forces. How a non-government based currency could work as a primary currency for the world, I'm not sure and it remains to be seen.