Bitcoin is the most disruptive invention since the Internet, and now an ideological battle is underway between fringe utopists and mainstream capitalism. "Banking on Bitcoin" shows the players who are defining how this technology will shape our lives. Bitcoin's early pioneers sought to blur the lines of sovereignty and the financial status quo. After years of underground development Bitcoin grabbed the attention of a curious public, and the ire of the regulators the technology had subverted. After landmark arrests of prominent cyber criminals Bitcoin faces its most severe adversary yet, the very banks it was built to destroy.
The concept of a digital, decentralized currency is questioning things and the answers being spilled out are deep-seated, long-standing propositions that place a magnifying glass onto the seemingly untouchable financial institutions at the base of modern commerce. What may be uncovered in the philosophical, political, and economic questions could have radical implications for the rest of the 21st century". The documenteray ushers us in, not to explore simply Bitcoin, but to hint at the basis of trade, commerce, and civil society. Director Torsten's story of money is one filled with promise like a sunrise over a landscape of human spirit.
Bitcoin is a peer-to-peer monetary system in which all transaction records are public. Participants can use its open-source software to transfer virtual currency to one another as easily as they might send an email. Bitcoin opens an uncharted world of new possibilities to explore. We'll follow the stories of entrepreneurs and startups that are helping shape the new financial frontier. We'll look at the competitive mining market and the various subcultures within the Bitcoin community." You'll encounter a variety of characters and opinions as we examine the social and political impact of an open-source digital currency. Will the rise of Bitcoin bring a monetary paradigm shift that will forever change the world? Supposedly invented by a mysterious Japanese man named Satoshi Nakamoto (whose current whereabouts are unknown). Because it is designed to have an absolute ceiling of 21 million Bitcoins in circulation (not anticipated until 2040), and the system has no central depository or administrative authority, it has great appeal to libertarians and others who seek alternatives to a perceived corrupt, manipulative banking infrastructure and excessive government regulations. Its low processing fees compared with those of mainstream credit-card companies also hold considerable allure for merchants.
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