This is a great and pretty factual documentary and op-ed on bitcoin. All of the information concerning Bitcoin and “block chain technology” is accurate up to 3 years ago. Since then there are at least 30+ alternatives to Bitcoin, some work better for specific purposes and others are ‘general competitors’ – but there are many now. WATCH and LEARN what the term “Block Chain Accounting” actually means and how individuals are becoming Millionaires “mining bitcoins” that’s right they are actually called “Miners” only no shovels or dynamite – only computers – LOTS OF COMPUTERS!!
Is bitcoin the blueprint for a bankless currency, or the biggest pyramid scheme ever? When the financial world collapsed in 2008, a mysterious genius under the pseudonym Satoshi Nakamoto presented the architecture for the perfect, bankless currency. Bitcoins can’t be forged, and can be transferred worldwide with one click of a button, without transaction costs.
Up till today, nobody knows who Nakamoto is, but his invention of the first decentralized cryptocurrency became world-famous within a couple of years. ‘Bitcoin Jesus’ Roger Ver invested massively in bitcoins when they were still worth less than a dollar, and in 2013 he saw the bitcoin exchange rate reaching as much as 1000 dollars.