Documentary - Development 2014

Cryptocurrency computer geeks are joined by entrepreneurs, drug dealers and billionaires on a volatile ride that will revolutionize money or bust.

    • Year of production
    • 2014
    • Genres
    • Documentary
    • Countries
    • CANADA
    • Languages
    • Duration
    • 70 mn
    • Producer(s)
    • Daryl HEMINGWAY (Hemingway Productions Inc.)
    • Synopsis
    • What is money? Who controls it? And what gives it value in the real world?
      Bitcoin Revolution examines the rise of digital currency and its impact on the financial sector, society and people around the world.
      In Toronto, Bitcoin enthusiasts trade their fiat dollars in at the world’s first Bitcoin ATM. A day trader in London anxiously watches Bitcoin’s value fall and agonizes over whether to sell. In Buenos Aires, a family uses Bitcoin to exchange their pesos for dollars to avoid government capital controls and devaluation, so they can send their daughter to university overseas.
      Bitcoin is the most popular peer-to-peer digital currency, designed to emulate gold but without a central controlling body. Launched in 2009 by an anonymous inventor, Bitcoin has seen spectacular swings in value from nearly worthless to over $1000. Today Bitcoin is used in thousand of transactions from rental cars and online gaming to illegal drugs and arms dealing. Is this the new Canadian Tire money for niche shoppers?
      Is Bitcoin really money? Could it replace dollars or is it just the latest pyramid scheme? Will Bitcoin go to $100,000 each as Silicon Valley venture capitalists predict, or will it fall to zero as fiat currencies always have? In a world fueled entirely with unbacked paper, whose money are you going to trust?
      Bitcoin is one of hundreds of alternative currencies quickly growing in popularity. From NoFiatCoin backed by gold to the Royal Canadian Mint’s Mintchip backed by Canadian dollars, are digital currencies here to stay? From politicians, bankers and academics theorizing about money, and speculators and entrepreneurs making their fortunes, to the hardworking people in Greece and Argentina trying to protect their savings, the impact of Bitcoin is being felt around the world.
      While some believe it is just another techno-fad and a bubble waiting to burst, is it possible that Bitcoin can revolutionize the banking system, by putting financial control back in the hands of the people?
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