The idea that Bitcoin was supposed to protect yourprivacy was pretty appealing. It was...
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the idea that Bitcoin was supposed to protect your
privacy was pretty appealing. It was trying to be money
for the internet. And it had a few features that the current
financial system just didn't. announcer: Fight! No single person or group
controlled it, it was basically impossible
to shut down, it was scarce. Anyone with an internet
connection could access it. You are personally
responsible for it. And it was super secure unless you made a mistake. And it was distributed
through something called "Bitcoin mining," which I tried. Even if you don't usually
pay attention to Bitcoin... ...you might have
still heard about it. Miners using powerful computers to guess a random
string of numbers and win a Bitcoin reward. It's how new Bitcoins
enter the system. This fancy computing rig, it's like a ticket
to the Bitcoin lottery. You said 1,600 Watts?
privacy was pretty appealing. It was trying to be money
for the internet. And it had a few features that the current
financial system just didn't. announcer: Fight! No single person or group
controlled it, it was basically impossible
to shut down, it was scarce. Anyone with an internet
connection could access it. You are personally
responsible for it. And it was super secure unless you made a mistake. And it was distributed
through something called "Bitcoin mining," which I tried. Even if you don't usually
pay attention to Bitcoin... ...you might have
still heard about it. Miners using powerful computers to guess a random
string of numbers and win a Bitcoin reward. It's how new Bitcoins
enter the system. This fancy computing rig, it's like a ticket
to the Bitcoin lottery. You said 1,600 Watts?
Full Transcript
00:00:01.000 --> 00:00:02.459
...the idea that Bitcoin
00:00:02.459 --> 00:00:05.796
was supposed to protect your
privacy was pretty appealing.
00:00:06.338 --> 00:00:08.034
It was trying to be money
for the internet.
00:00:10.134 --> 00:00:11.468
And it had a few features
00:00:11.468 --> 00:00:13.762
that the current
financial system just didn't.
00:00:13.762 --> 00:00:15.999
announcer: Fight!
00:00:15.018 --> 00:00:17.725
No single person or group
controlled it,
00:00:17.725 --> 00:00:19.852
it was basically impossible
to shut down,
00:00:19.852 --> 00:00:21.353
it was scarce.
00:00:21.353 --> 00:00:24.231
Anyone with an internet
connection could access it.
00:00:24.231 --> 00:00:26.483
You are personally
responsible for it.
00:00:26.483 --> 00:00:28.319
And it was super secure
00:00:28.319 --> 00:00:30.237
unless you made a mistake.
00:00:30.779 --> 00:00:33.157
And it was distributed
through something called
00:00:33.157 --> 00:00:34.658
"Bitcoin mining,"
00:00:34.658 --> 00:00:36.285
which I tried.
00:00:37.001 --> 00:00:39.058
Even if you don't usually
pay attention to Bitcoin...
00:00:39.058 --> 00:00:41.332
...you might have
still heard about it.
00:00:41.332 --> 00:00:44.376
Miners using powerful computers
00:00:44.376 --> 00:00:46.067
to guess a random
string of numbers
00:00:46.067 --> 00:00:49.131
and win a Bitcoin reward.
00:00:49.131 --> 00:00:51.508
It's how new Bitcoins
enter the system.
00:00:51.508 --> 00:00:52.968
This fancy computing rig,
00:00:52.968 --> 00:00:55.999
it's like a ticket
to the Bitcoin lottery.
00:00:55.999 --> 00:00:56.805
You said 1,600 Watts?
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Movie Summary
Cullen Hoback investigates the origins of Bitcoin and its anonymous creator Satoshi Nakamoto, exploring the potential of this cryptocurrency on the global financial system and who could hold immense power if it became mainstream.
