Bitcoin started out as an amusing experiment for the tech-savvy, but its scope soon widened. It is now on its way to becoming a serious player in world economics; not only that, Bitcoin has humanitarian potential, especially for the large majority of the developing world that does not have access to the banking system. Bypassing banks could revolutionize everything, helping to level the global playing field and implement positive change.
In The Rise and Rise of Bitcoin director Nicholas Mross does a nice job of detailing everything Bitcoin. From its creation through to the present day, the message is clear—Bitcoin is going to be big! The first and most popular form of digital crypto currency, Bitcoin is based online. The public platform called the block chain records all transactions, and users can access their coins using public-key cryptography. Being an open source, peer-to-peer operation with no central authority, there is no owner except for everyone that buys and sells Bitcoin. With a simple Bitcoin address, anyone can send or receive Bitcoin.
Although Bitcoin is extremely complex, Mross’s documentary does not go deep into the technical side. This technical side continues to be part of the problem, impeding Bitcoin’s mainstream popularity. It is still too complex for most ordinary users. This film documents a variety of companies that are trying to bring Bitcoin to the average Joe by creating easy to use sites where one can buy, sell and use Bitcoin. Unsurprisingly, the US government is not too thrilled about Bitcoin, and so is purposely creating problems for these up-and-coming companies, with many ending up having to close their doors.
The Rise follows Dan, a programmer from Pittsburgh that became interested in Bitcoin during its inception in 2011. Dan is a Bitcoin miner. He is runs his stacks of hardware day and night, unlocking algorithms and thus somehow creating new Bitcoins. This film is really best suited for someone with only intermediate computer experience, or someone that has never heard of Bitcoin before. For someone who understands the mining process completely, this film would be a bore. But for someone with only a vague of idea of what this process called Bitcoin mining entails, Programmer Dan shows just how much hardware it takes to mine seriously. It’s very surprising in its complexity.
Slightly overdone, Mross’s film really tries to play up any mysteries surrounding Bitcoin, coercing conspiracy theories reminiscent of a Peter Johnson’s Zeitgeist (2007). The most notable conspiracy surrounds Bitcoin’s supposed inventor, Satoshi Nakamoto. After writing the code for the initial stage of Bitcoin in 2011, Satoshi disappeared, and has since become a god-like legend in the community. This conspiratorial tinge isn’t really necessary since it is common knowledge that Bitcoin is always sitting precariously on the edge. No doubt this portrayal is Mross trying to liven up a topic that seems rather dry to make a more exciting film. Overall, this film is just a vehicle for an already interesting topic.
