Bitcoin Documentary: Cryptocurrencys, Bitcoins, Blockchain, Digital Currency, Money and Gold.
In 2009 an anonymous programmer or group of programmers under the pseudonym Satoshi Nakamoto launched Bitcoin. Since then, the value of Bitcoin has skyrocketed and speculators have earned a lot of money. But is Bitcoin really a currency? Is it in a bubble? Can governments and banks control it? What could go wrong?
Bitcoin is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence.
There is a very good Bitcoin Documentary on YouTube, which is an hour and 3 minutes long. In the first five minutes of this video, the speaker explains perfectly well what Bitcoins are, how they are created and used, what is a Blockchain, how it works and why it is important, and all about the history of money.
Towards the end of the video, he discusses how to invest in Bitcoins. He does that by making a comparison between gold, diamonds, and Bitcoin. Gold has real value because we use it for jewelry. Diamonds have real value because we use them for industry tools. And Bitcoins have real value because we can use them to purchase things from other people all over the world without having to pay huge transaction fees to our banks or credit card companies.