The Rise and Rise of Bitcoin

Synopsis: Dan is a 35 year old computer programmer from Pittsburgh who lives a busy life. Along with balancing work, his marriage, and raising his three boys, Dan spends much of his time actively involved in all things Bitcoin. After discovering Bitcoin in 2011, his love and obsession for the crypto-currency was born, revealing an uncharted world of new possibilities for him to explore. Join us as we take a journey through the rapidly growing world of Bitcoin. Along the way, 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?
Director(s): Nicholas Mross
Production: Gravitas Ventures
  1 nomination.
 
IMDB:
7.3
Rotten Tomatoes:
67%
TV-14
Year:
2014
96 min
Website
11 Views

DANIEL:

Eliza and I met in college,

and we've been married

for seven years.

We live in Pittsburgh,

where I'm from,

and we have three boys,

I've spent most of my career

as a database administrator.

But for the past two years,

I've been consumed with bitcoin.

Bitcoins come into existence

through a process called mining.

I build computers

to mine for bitcoins.

I'm glad that it's finally

getting a little bit cooler out.

My wife won't be as angry

that the basement is so hot.

I've still got a bunch of mining

rigs running right now.

Actually they're right down here,

if you wanna go take a look.

Here they are.

So what is bitcoin?

Bitcoin is

a revolutionary technology

that enables a new way to send

payments over the Internet.

( BEEPS ) - You can think of

it as an open accounting system

where thousands of computers

all over the world

work together to track ownership

of digital tokens called bitcoins.

When you send

someone bitcoins,

the transaction is broadcast

to the entire network.

After it's verified,

it's recorded

in a public ledger

called the blockchain.

The blockchain

contains a record

of every bitcoin

transaction that has occurred

since the system began,

and it's shared

and maintained on the network,

so everyone keeps the books,

so to speak.

Most currencies are issued

by a central authority

that controls

the money supply.

Bitcoin is

a peer-to-peer system,

so there is

no central authority.

Instead bitcoins are

issued to users

who help process transactions

in the network.

This is known

as bitcoin mining.

Bitcoin miners are

specialized computers

that do the work

required to verify

and record transactions

in the blockchain.

As a reward for their work,

the miners earn bitcoins,

and this is how new bitcoins

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