Bitcoin, Movie + Article
- Raven C. Waters
- Jul 13, 2019
- 1 min read
Dir. Christopher Cannucciari | 2016 Documentary Film
Didn't give sound understanding of what exactly bitcoin is/ how it works, rather its history/ exploration of Satoshi Nakamoto.
* Interested from Michelle Phan's Insta' stories and appearance on Ryan Higa's podcast.
• July 13, 2019 | Canggu, Bali, Indonesia • Lincoln Michel | 16 December 2017
"... Bitcoin is a virtual currency that exists entirely online. You can send and receive bitcoins in the same way you can Venmo your roommate beer money.
It’s main innovation is “the blockchain,” a ledger of every transaction that’s shared across the world in a peer-to-peer network. Because bitcoin accounts aren’t tied to names and transactions are encrypted (hence “cryptocurrency”), the money can be used anonymously.
... the decentralized blockchain allows Bitcoin to ensure the money isn’t counterfeit without needing the backing of any government, banking institution, or other centralized authority.
Many of the Bitcoin utopians in the documentary talk about the radical potential of cryptocurrency for people in countries without stable governments: “2.5 billion adults in the world do not have access to bank accounts,” Michael Casey from the Wall Street Journal says. “Technology like Bitcoin or cryptocurrency has the capacity to bring those people into the financial system.”
Cryptocurrencies are complicated, but Banking on Bitcoin gives a solid overview of the mechanics and history."
• April 18, 2020 | Queens, New York •