The Rise and Rise of Bitcoin

This movie is nothing but a fluff piece to pump a pyramid scheme that is already collapsing. Basically it's just a bunch of greedy pigs spewing propaganda to try to make you a greater fool in their pyramid. They are really desperate right now, because bitcoin is down over 70% in just a few months, so they need to scam more people fast before the scheme crashes completely. They are all losing huge amounts of money, and want you to join them on their misery. Just ignore them, and let them hold the hot potato till it burns their hands for good ;) Happy I could help you stay away from yet another online scam. Since there's money involved, expect the peddlers to come out in droves to try to push this get-poor-quick scheme down your throat.

Bitcoin may sound very abstract, but it's carried by people of flesh and blood. This movie follows some of the main players in the first years of Bitcoin. See their excitement, share their passion. Sometimes they stumble or fall, but they keep going. In between, you get to learn how Bitcoin works and what it's all about.

If you want to know more about Bitcoin, but are less of a techie and more of a peoples person, this movie is for you.

The only thing I missed in the part that covered 2013 is the developments in China. I can imagine that it was a bit 'out of scope' for the makers, but it felt like an omission to me, especially since its relevance for the November rally. But other than that, a great movie!

For the inquisitive minds about the inherent flaws in our current monetary system and how money works in general, this simplified overview of Bitcoin is truly refreshing. Many complex issues about the protocol is explained in laymen terms to enable any family member to appreciate the invention for what it accomplishes. The internet of money has been spawn and naysayers would one day regret not having explored this invention beyond first misconceptions. This documentary provides a great intro into the early adopters' lives and why the community is blossoming in a time when the rest of the world is sinking deeper into depression and debt. It invites one to look beyond mainstream misrepresentations and that it is only a black market currency. Great documentary indeed. Would recommend it to any friend.

Before I explain the contents of The Rise and Rise of Bitcoin, let me first try to explain how the digital currency works, as not only a personal exercise but to inform those who were like me upon entering this documentary with no knowledge whatsoever of the currency or its complex system. Bitcoin is a global, decentralized currency; the first of its kind in the regard that it is not created or distributed from a central location like the Federal Reserve or the World Bank and, therefore, has no owner or sole distributor. It exists on thousand of computers, tracking and verifying the distribution of such coins, an action referred to as "mining" by the network of individuals who engage in it. The distribution and exchange of Bitcoins is kept in a digitized ledger known as Blockchain, which is accessible to anyone engaging in exchanging Bitcoins for goods or services. The coins are issued digitally, through a peer-to-peer system of people assisting with transactions. Miners earn Bitcoins for all their hard work, but their work will gradually decrease in compensation the closer that the cap of twenty-one million Bitcoins is reached. No more than twenty-one million Bitcoins will ever exist, making it the first currency that is capped and governed by scarcity.

The idea for Bitcoin came from an unidentified person or group of people by the name of "Satoshi Nakamoto," who released blueprints and an intricate plan to create a digital currency. His ideas were picked up and furthered by a group of equally-ambitious internet users, who effectively found ways to help him execute his plan of action by compiling together servers and processors to aid in the act of digital Bitcoin mining. The digital currency has seen its highs and lows, with prices of Bitcoins (the currency is purchased by the American dollar) fluctuating rapidly and the first, most-recognized use for the currency being on the website Silk Road, a haven for the online distribution of illegal drugs. Nonetheless, Bitcoin believers like this documentary's director Nicholas Mross still foresaw a vast future for the currency, and helped propel it to new heights through word-of-mouth promotion and recognition thanks to websites like Reddit and Wordpress, who made the daring move to accept Bitcoin as a form of payment on their respective websites.

The Rise and Rise of Bitcoin concerns just that: the rise of the digital currency, the steps being taken to assure its longevity, that all of the labor and hard work put in by its peddlers isn't for nothing, and the process its hardcore believers go through in order to get the currency accepted at local grocery and food chains. Immediately, any skepticism towards the currency is well-warranted. For one, Bitcoin's existence is entirely digitized, and because there's no sole distributor, no consumer security is promised, meaning your collected currency is available to compromise at any time without any kind of repercussions to the malicious parties or any kind of financial compensation. Combine that with the fact that the fact that not only has Bitcoin been hacked before and the fact that Bitcoin isn't governed or run in any particular way, and you have a currency that meshes in line with the very principles of anarchy.

These comments aren't criticisms of Bitcoin, but rather, simple observations that struck me when watching the film. The main question I left the film with concerned the filmmakers' high ambition and scope of the currency, stating it will help the countries without a stable bank system work to put themselves on the financial map.

One can't fault the key players in this revolution for lacking ambition. It's incredible to see such a wishy-washy form of finance being exhausted for all its potential in what are still undeniably the early, founding days of its existence. Part of the fun of The Rise and Rise of Bitcoin is seeing the currency touted as something with such grand potential, and it's a pleasure to see all the work, time, energy, uncertainty, and trouble that goes into not only establishing a new currency and the system of rules but trying to gain credibility in a field that seems so far beyond the mental grasp of people. I'm willing to believe we see currency - whether we're talking the American Dollar, the British Pound, the European Euro, the Japanese Yen, or the Chinese Won - as something that has always existed and any attempt to question it gets us lost in a web of tangled questions few are prepared or even capable to answer effectively. If nothing else, this documentary gives those questioning the reliability and the functionality of the system some background knowledge.

In addition, the film illustrates the inherently tumultuous and admittedly frightening nature of the internet, where momentary missteps or uncertain choices can be met with grave outcomes, especially when a group of people decide to exploit a currency for all its worth and run the risk of breaking some law somewhere with a fierce legal battle ensuing. The brave souls who do this kind of dirty work, regardless of whether or not you support them or Bitcoin, are walking on a field of mines, some of which able to blow if a pin is dropped on them, but that doesn't stop those ambitious enough to challenge a system and deviate from its undeniable tumultuous nature.

The Rise and Rise of Bitcoin does its job as a documentary; I walked in knowing nothing about Bitcoin and feel I emerged more knowledgeable and well-rounded on said topic. The documentary is cleanly edited, even if a bit too heavy on digital jargon without too many dependable context clues, and stands tall with one of several strong documentaries concerning the ideas brought forth by the internet and the ideology and culture the medium breeds.

Excellent movie. It is be likely to be a great historical capture for mankind (in case bitcoin survive). This movie captures the some part of history of this ongoing experiment , which is important to some of us the crazy one's ..

While a lot of characters in the movie may have questionable background. But have we looked around us ( lately )..

At the same time there are plenty of very smart people who are devoting their manhours toward this historical project. Jeff Garzik, Peter todd, Mike Hern Vladimir, Gavin and many others.

Those who call bitcoin a pyramid scheme You are right. Here is a quote from satoshi himself..

"If you don't believe me or don't get it, I don't have time to try to convince you, sorry."- Satoshi - July 2010.

Thanks for the effort ... Enjoy the movie.