The Bitcoin uprising

If you get a spare half an hour today, check-out the above documentary from CNBC entitled The Bitcoin uprising.

In the video, CNBC’s Mary Thompson takes a detailed look at Bitcoin by speaking to the currency’s faithful, who believe the open source currency will upend the global financial system. Thompson also speaks to those who believe Bitcoin is an easily manipulated tool that empowers criminals, hackers and drug barons in the dark online underworld.

It’s essential viewing for those who don’t already have a deep understanding of Bitcoin, shedding a much needed light on the speculative currency and the future of money.

 

Comments

    • migtronixMEMBER

      You have a good memory skip weren’t we suppose to sell this thing?

      The ABC has won permission from the Chinese government to have its Australia Network content made available to the entire Chinese population – the most extensive access afforded to any Western broadcaster

      Inefficient or something…

      • For those that must partake in such activity’s theirs always lotto or the casinos.

        skippy… I prefer capitalism.

  1. I have to say, It was a lot of fun watching people with no financial understanding lose their shirts along the bitcoin ride so far.

    It was also interesting to see bubble mania take hold when prices hit ~$1000 USD. You would hear wild claims that prices will double year on year or BTC will be worth 10,000 USD in X time, a million by the end of the decade!

    • migtronixMEMBER

      Kind of like how people with no understanding of technology catch on too late. Plenty of calls saying it would be 0 now.

      Who lost their shirt? Worse could happen you jumped in at $1300, still worth $530.

      • I bought in between $50-100, sold one Bitcoin around $800 and can’t possibly lose my shirt even if the remainder go to zero.

        It’s fun watching people make complete generalisations without knowing what they’re talking about.

    • I never could understand how they claim to fight the flaws of the prevailing fiat monetary system by replicating the flaws of the system.

    • slightly_perturbed

      Not claiming to be a financial genius or to thoroughly understand the coding of BTC by any means, but the fact that it’s number is finite (a few million or something) should means that it should go up in general all the time.
      That same fact will eventually kill it as well, considering that bitcoins are getting lost all the time, due to people forgetting their wallet passwords or simply dying of natural causes and taking their passwords to the grave.
      If they change the coding so that “lost” bitcoins can be recovered, at that instant it becomes fiat and its entire reason for existing becomes worthless. In the meantime, I believe they are a valuable means of exchange, out of the reach of dirty little people who like to print fiat at their whim.

    • migtronixMEMBER

      Hope you got through to him Melty, imagine that trying to pull and sell oil. Like, actual work, what a pervert!!

      I’m certain though, meltie, that when the bozo figures out the right way to go about things, that as soon as he attempts to rent that land that you’ll be advising the bozo about to rent the land for production just what a despicable tosser he/she is! Then you’ll set th straight and they will merely sod off to buy land instead.

      This is the way things are done in Australia, you may want to move here and be amongst peers…