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The Rise and Rise of Bitcoin
A documentary about the development and spread of the virtual currency called Bitcoin.
Release : | 2014 |
Rating : | 7.1 |
Studio : | 44th Floor Productions, |
Crew : | Director, Writer, |
Cast : | |
Genre : | History Documentary |
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Reviews
Load of rubbish!!
Good movie but grossly overrated
I really wanted to like this movie. I feel terribly cynical trashing it, and that's why I'm giving it a middling 5. Actually, I'm giving it a 5 because there were some superb performances.
I enjoyed watching this film and would recommend other to give it a try , (as I am) but this movie, although enjoyable to watch due to the better than average acting fails to add anything new to its storyline that is all too familiar to these types of movies.
It is very well made and touches (and explains) most of the more interesting functions and applications of this new technology. Blockchain (Bitcoin) is the key for the decentralized future of humanity, once the centralized and corrupt current systems crumble on their own weight. So this documentary depicts why bitcoin is the future not only for money, but for many more imagined (contracts, global ledger, voting, etc) and yet unimagined decentralized and transparent services for the good of every human being.Just as reference: "Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank."
The Rise and Rise of Bitcoin achieves the opposite of what one would assume its goals are.Right from the start we're greeted with the Winklevoss twins. Two men best known for 'suing the Facebook guy'. After a moment is taken for them to share their attempts to enrich themselves further at the expense of others the movies narrator goes on to tell the audience he's recently spent a great many bitcoins on a Butterfly Labs bitcoin miner.Butterfly labs is one of the many now bankrupt or under investigation companies we're invited to take a look at.The Rise and Rise is documented proof that the bitcoin landscape is made up of thieves, lairs and bad actors. The few people who get involved 'out of interest' are sheep that get eaten alive by the wolves at the top of the pyramid scheme.Notable people interviewed: Charlie Shrem - now a convicted felon due to money laundering.Erik Voorhees - claims to have renounced his American citizenship and fled to Panama after selling an illegal gambling company.Gavin Andresen - employed by the notoriously corrupt 'Bitcoin Foundation' (of which many members have stepped down) to maintain the Bitcoin code.Mark Karpeles - Amazing visionary who unfortunately got caught up and had his name sullied by the vicious money hungry Bitcoin community.Roger Ver - Bitcoin Missionary.This documentary is well worth watching, it's comedy gold.
Unlike the review by Mr John Bast conveys, the current market price of Bitcoin is not relevant. Even if Bitcoin drops to $1, the technology, which has already been acknowledged as "revolutionary" by the Canadian and UK Government, will continue to effect its transformative influence on the financial industry.There is a strange subset of individuals who simply despise Bitcoin, even though it is nothing more than math and software. This leads me to believe that people like Mr. Bast are just upset they missed the meteoric rise in value last November. Nevertheless, those who take the time to understand the technology, and pay attention to the incredible growth in the industry, will see that we are at the beginning of something huge.You don't have to invest in Bitcoin at all. You can just use it, and enjoy the privacy, independence, and freedom of controlling your own money without permission from any 3rd party. Therefore "pyramid scheme" is a misnomer of epic proportions.This movie is a great look into the beginning stages of the community surrounding this disruptive new technology. So much has happened since it was made, that it is already "dated", but it gives a more technical look into what's being created, and where its going. Don't be a simpleton like John and just dismiss it outright. Take the time to learn what it is, and why its going to rock the financial world in the next 10 years. This movie is a great starting point for that research.
Even though I already know a lot about the amazing technology behind Bitcoin, I still enjoyed this documentary. The film gives insight into the early days of mining, and the drama that happened with mtgox and bit instant. The interview with the CEO of mtgox was interesting. I highly recommend it to anyone that is interested in Bitcoin. It's sad that there are so many people out there that don't understand the full extent of the innovation that has happened with the block chain. Hopefully this documentary will help people understand that Bitcoin is much more than just a new form of money. It's a whole new way of thinking.