Cryptopia: Bitcoin, Blockchains and the Future of the Internet

Some context to start with: I had the chance to see this doc at an exclusive preview session so who knows if it was the final cut. In my opinion it should be since this was a great "tour de force" covering a hot topic full of history and interesting characters.

The chapters build upon each other nicely, the narrator keeps everything well in check, especially if some of the figures in the movie start ranting. Funny as well!

So yah, if you want to learn about that hype around blockchains, cryptocurrencies / Bitcoin and some really grand ideas for the future, those 80something minutes are well invested time. Also superior to going down the online rabbitthole which is particularly deep and confusing on those topics. And clearly less fun.

Informative documentary if you want a quick summary of the history of the crypto so far. Doesn't really explain how blockchain works in a too technical way, so it's easy to understand.

Bitcoin is currency, not money. Money has to be a commodity first, and a medium of exchange second e.g. Silver. Silver is used in batteries, cars, mirrors, water filters etc etc. But it can also be used as a medium of exchange. Money has to be a stable store of value over hundreds of years. E.g. The dollar has lost 98% of its purchasing power within a few decades I.e. The dollar is currency, not money. Similarly, Bitcoin is simply a medium of exchange, in the form of a digital token I.e. Currency. It is not money. The film comes across like a pump-and-dump scheme. "We know it's going to a million dollars a coin". Do we know that? I sure as hell don't. There are 15,000+ cryptos out there. Crypto is the latest get rich quick scheme, but the ship has already sailed. There's no questioning the blockchain technology will have applications in the future, but it isn't isolated to Bitcoin. It has other applications. It also doesn't give Bitcoin 'value' in the same way the dollar is sometimes said to be 'backed by the US government'. Nonesense to those who understand what money actually is.

This is a very intense and detailed documentary about the entire industry. the good parts of it and also the bad projects and people. i need to watch it again because it was so information dense. the production was really high quality with many graphics and helicopter shots. i enjoyed some of the funny scenes that lightened the mood between more technical bits. I enjoyed watching all the crypto VIPs too.

There's a lot of babble but very little substance. It doesn't make things simple enough for the laypeople and for anyone knowing anything it's entirely nonsensical at times. Random things said but not explained or questioned.

For example, one company describes their product as "an operating system on top of Etherium." That's it. He didn't ask what that means, just put it out there. Was the point to make it seem entirely ridiculous?

He went to see a vault that has servers and data. No explanation what and why. "The key is split into five locations." Ok, what key? What is it used for? How do they use it when they need to? Nothing is explained.

There's at least some points where they show how much was promised and how nothing was delivered by the crypto fanatics, but in the end it doesn't really say anything. Much better ways to waste time.