Most of us have heard about bitcoins, as the subject is becoming more and more famous and is widely discussed. We can instantly send bitcoins to any place in the world where there is Internet access, without commission, without intermediaries such as banks or governments.
Bitcoin cannot be forged or printed, it is simply devoid of human factor, and everything is done according to predetermined rules democratically accepted by most users of the system.
How does it work? “Inside The Cryptocurrency Revolution”
For those interested in the subject, the HBO channel has recently published a VICE series documentary about the upcoming crypto revolution.
The short documentary is called “Inside The Cryptocurrency Revolution” and has already been watched by over 1.15 million people! (The production itself was made a year and a half ago and appeared for free on YouTube).
The material of the reportage starts with a helicopter flight to the Icelandic cryptocurrency mine (one of the many existing in the country), talking about Genesis Mining, the Enigma Mine, owned by Marco Streng (a businessman from Germany), and whose background we can see. It is mainly Ether and confirms transactions in Etherum network (open platform based on blockchain technology). – Bitcoin 2020 forecasts – What awaits us?
Revolution from within
The report presents the essence of the cryptocurrency revolution and what it brings with it. It also explains the technology behind bitcoin and cryptocurrencies.
Here we will learn about the mines and their mining equipment, i.e. cryptocurrencies excavators worth tens of thousands of dollars.
The owner of the mine answers questions from the reporter, Michael Moynihan. We will find out whether this place is a substitute for the central bank and whether the cryptocurrencies are a fraud equivalent to the loss of money. We will also compare the development of cryptocurrencies to the Internet in the 90s and learn about the most important news and statements of the world’s leaders concerning cryptocurrencies in recent years. – Does the upcoming halving Bitcoin mean a new megahosaic in 2020?
The Russian side of the revolution
In the reportage we can read an interview with Vitalik Buterin, who is the “crypto father” (a crypto researcher and programmer who worked on Bitcoin in 2013 and, thanks to funding from investors, led to the launch of the Ethereum Coin system on July 30, 2015), touching upon the future and the essence of digital currencies.
The reporter and Vitalik Buterin also go on a joint trip to Tatarstan, the “Silicon Valley” of the Russian Republic, where they participate in an on-site hackathon and talk to high-ranking officials about blockchain technology.
Michael speaks there with the Deputy Minister of the Republic and the Minister of Information and Communication, stating that one of the main development goals of Tatarstan is to educate more employees of the IT sector, of which there are currently only about 400,000 in Russia, while in the USA their number reaches 2.5 million people. – Why is Bitcoin losing and gaining in value? What will happen in 2020?
The material is certainly worth seeing by people interested in this type of topic. It contains interesting interviews, information and, most of all, a picture of how the process looks like from the inside, i.e. we will find out “what it’s with” in a “stealthy” way.