In 2018 a person going by the name 'Satoshi Nakamoto. The identity of this person is still not known today. They created it to be a peer to peer network to send and receive money. When it was first made it was worth little to nothing at one dollar in 2010. It was a little bull run for a short period of time after 2010 and it rose to 29$ but then it went back down to zero. The years after than were uneventful to say the least. After 2013 the price has been going up and kept going up since. Bitcoin hit an all time high in November of 2021. The price was 67,617$.

Currency forever has always been controlled by a central goverment authority for all of history. It is only recently that decentralized finance has come into the picture. Most currencies were backed by gold called the 'gold standard' and it states that for every ounce of gold there will be a dollar, a one to one backing. But the us got rid of that and now there is a risk for inflation. This is what we also in 2020 when goverments started printing more money to speed up the economy. Also there is a risk for a 'bubble' like what happened in 2007 when the housing market crashed. But its not all bad, for most modern goverments the currency is relatively stable and havent seen a crazy inflation rate like 200% recently.

The one difference between fiat money and crypto currency is that you cannot touch. Bitcoin is either stored on a cold wallet or a hot wallet but it will never be a physical thing you can touch like you can touch a one dollar bill. A cold wallet is a hard drive stored offline but it is harder to move the funds but it’s more secure. A hot wallet can be cashed out fast but it could be hacked. There is also a limited amount of crypto currency. Bitcoins cap is at 21 million and it will never go above that number. But for the US dollar it can fluctuate depending on many factors including inflation and the gdp and how much society trusts the government. It is a lot easier to send bitcoin to country to country than to send money. This is because there is no middle man. It simply goes form one private address wallet to another. With the US dollar there would be a plethora of barriers including government regulations and a middle man. Not to mention the taxes involved. Also no one issues out bitcoin because there is no one that owns it.