The Simplicity of Crypto Currency

Most people think crypto currency is complicated compared with the dollar. In reality, the dollar is complicated; crypto currency is not. It becomes very simple when abstracted to the least common denominator: scarcity; and who controls the money supply: no one. Not the Fed or anyone else.Crypto currency is technically complicated. With higher level mathematics and cryptography and it relies on a β€œmining” process that’s nonsensical on the surface. Blocks, nodes, keys, elliptic curves, digital signatures, hashes, nonces, merkle trees, addresses and more.But still with all this, crypto currency is economically very simple. If the supply of crypto currency remains fixed, more people will demand it and its purchasing power will increase; there is nothing about the complexity underneath the hood that will prevent adoption.Most participants in the dollar economy, even the most sophisticated, have no practical understanding of the dollar system at a technical level. Not only is the dollar system far more complex than bitcoin, it is far less transparent.You don’t need to understand how your phone works to get the benefit it just needs to be possible to understand the benefits and risks of having a phone. The same is true of crypto currrency but not of the dollar. Think about what it means for everyone that relies on the dollar but can’t understand its benefits and risks. It’s harder than most think. The implications are more severe than we’ve ever experienced … up until now that is.