Bitcoin: The End of Money as We Know It

Synopsis: Bitcoin: The End Of Money As We Know It traces the history of money from the bartering societies of the ancient world to the trading floors of Wall St. The documentary exposes the practices of central banks and the dubious financial actors who brought the world to its knees in the last crisis. It highlights the Government influence on the money creation process and how it causes inflation. Moreover, this film explains how most money we use today is created out of thin air by banks when they create debt. Epic in scope, this film examines the patterns of technological innovation and questions everything you thought you knew about money. Is Bitcoin an alternative to national currencies backed by debt? Will Bitcoin and cryptocurrency spark a revolution in how we use money peer to peer? Is it a gift to criminals? Or is it the next bubble waiting to burst? If you trust in your money just as it is - this film has news for you.
Genre: Documentary, News
Director(s): Torsten Hoffmann (co-director), Michael Watchulonis (co-director)
  3 wins.
 
IMDB:
7.1
NOT RATED
Year:
2015
60 min
22 Views

to bail out the country's

troubled banks and companies.

History may not repeat itself,

but it certainly rhymes, badly.

People in power and their money,

have always been at

the very center of it.

(violin instrumental music)

The story of money

is as old as

civilization itself.

When we lived in small tribes,

keeping track of debt was easy.

You owed somebody

a load of firewood.

A neighbor owed you

a piece of meat.

Credits and debits

were kept in your head.

A mental ledger.

- Currency's a

language that allows us

to express transactional

value between people.

It's technology that's

older than the wheel.

It's as old as fire.

- [Voiceover] When

humans wanted to trade

outside their tribe or village,

they needed something,

everyone could agree had value.

Something scalable.

Enter commodity monies.

There were many kinds,

but each had to embody

the same five characteristics.

A commodity money is

relatively scarce,

easily recognizable,

can be cut into smaller pieces.

You can substitute one piece

for another of equal value.

And you can carry it around

without too much trouble.

In ancient Rome, it was salt.

The Aztecs used Cacao beans.

It was whale teeth on Fiji.

Yak dung in Tibet.

Shells in Africa and China.

Grains, metal,

ivory, rare stones,

leather, fish.

If it had the five characteristics

of commodity money,

someone probably

used it as currency.

- And then you ask,

what value did these

currencies have?

If you go into a primary school,

you'll see children

exchanging rubber bands

and Tamagotchi

and Poke-man cards

and baseball cards and sweets

and candy and any

other form of currency.

People invent currency,

when they have no

other currency.

And now they're going to

invent digital currencies.

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"Bitcoin: The End of Money as We Know It" Scripts.com. STANDS4 LLC, 2020. Web. 18 Feb. 2020. <https://www.scripts.com/script/bitcoin%3A_the_end_of_money_as_we_know_it_4139>.

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