Banking on Bitcoin

This is not really a documentary. This is just a quick rehash of blog posts and some talking heads brought in to make it look respectable. And there is no story to tell here, just some data, too badly structured even for a book published with a not so great publisher.

Great propaganda. Now, what are the nuts and bolts of how bitcoin works? I watched this entire film thinking I, the clueless, was going to be educated on how to get started. All I got was 83 minutes of "government bad, bitcoin good." I know as little about bitcoin as I did before this 83 minute waste of my time.

The facts about 2008 crisis are falsified; on purpose or because of ignorance. The producers want to impose the idea that bitcoin is a revolution towards an utopia; and bad banks and governments are against it. In fact; though impossible; the world bitcoin would create if it replaced paper money, would be an ultra liberal one with no public services, no loan mechanism, high jobless population and big income inequality. The documentary is misleading on bitcoin that makes you think that its fate is in hands of a bunch of illiterate simple minded dreamers, actually bitcoin and criptocurrency is far from that and deserves credit and attention.

Is it really this virtual currency, along with many other replicas, the future of the payments and the financial system? I bet it will be. Or at least, I hope so. We've all been familiar for a long time with the idea of "open-source software", and now that it comes to money, it just raises a lot of opportunities for the people who want to step into the field of crypto -currencies, or who only want to get rid of banks, and start living life without the worries of fees, taxes and so on, that banks impose. Of course, we have this kind of things in virtual currencies, but are insignificant, compared to the regulations that the government and central banks force us to obey. I guess we are fed up enough with this kind of plastic we worship, call it dollar or whatsoever, we die every single day for it, just to gain a basic income & we can barely afford the "cheap" things. It's time for change. It's time for a revolution. It's time to join the movement!

I don't know if it's funny, but then again humor is in the eye of the beholder. One thing is for sure, some people were able to do a lot of money. And then as with every currency, some did things with Bitcoin or dealt with it in ways that are not legal. But how can you always know how your product is going to be used? In this case apparently one of the founders knew about something ... but more about this when you watch the movie.

It's an interesting look behind the scenes. Though I learned even more when I watched a special from John Oliver. Although he did a bit with all "Cryptocurrencies" so it was much broader (but also shorter, around 20 minutes). This is a nice what happened and how it started, for people who never really informed themselves about Bitcoin but always hear about it ...