In addition to this post, a lot of people still struggle with the concept of how traditional fiat currency is “centralized”, and digital currencies like Bitcoin are “decentralized”. Without properly understanding what these terms mean, there is no way for everyday consumers to see the benefits of either option.

And one of the most often heard comments is how fiat currency can be printed on-demand. While most people think this statement is overrated, every governing body around the world can create additional fiat currency “out of thin air.” It goes without saying that, by increasing the total supply of fiat backed by the previous value, all money in circulation becomes less valuable.

While, bitcoin, the most popular decentralized currency in the world right now, has a fixed supply of 21 million coins. No more coins can ever be issued beyond that point, giving all bitcoins in circulation some form of value at any time, with the potential to increase in value over time. It will take until 2140 until all 21 million bitcoins are mined.