A computer programmer becomes fascinated with the digital currency Bitcoin, and through his involvement in the Bitcoin community, we learn about the impending global impact of this amazing new technology.
Bitcoin is the most disruptive invention since the Internet, and now an ideological battle is underway between fringe utopists and mainstream capitalism. The film shows the players who are defining how this technology will shape our lives.
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What is Bitcoin? With the advent of Bitcoin, the world's first digital currency, for the first time in history money is no longer controlled by banks or governments, but by the people who use it. But where did this currency come from? How does it work? And is it truly the way forward, or just a flash in the pan? Magic Money answers these questions and more as it explores the mysterious origins of Bitcoin, its role in society, and how it could shape the future.Written by
I've been seeing a lot of bitcoin related stuff in the last year as prices began to rise.
I've seen people paying $1000s upon thousands to SEO to get their articles about bitcoin high up on Google. I've seen hundreds of extremely expensive advertorials on first page of Yahoo, magazines, newspapers, all talking how amazing bitcoin is. Often the authors are impossible to trace or it's written by various banks or ventures/ investors. There's a clearly a group of people who are spending millions of $$ on all of this as they have perhaps at this point billions of $$ bitcoin and they are making crazy profits.
This "movie" failed on a lot of fronts. It clearly has the same hiddent agenda. Aside from a few minutes of the negatives, which were diluted and not entirely true were mixed with 99% of the "positives", in order to promote it. The whole concept of this documentary is to promote the bitcoin. The more people know about it, buy it, the more the value grows and that's in the best interest of a some people who earlier invested in a crap load of this digital currency.
It did not speak adequately about all security breaches and hackers and all the dangers because it's just not in their interest.
Bitcoin currency( and there are 100s of similar currencies out there) is not 100% secure. Hackers can find a way and there's no protection of any kind. Once it's gone, it's gone and you are left with nobody to complain. It was hacked before and I am sure not the last time! Bitcoin and any of these digital currencies are similar to Casinos. They are not real money,but basically sort of casino chips where you try your luck. You can win big one day or lose everything the other. You can sure play it if you have money,but most people should stay away, especially at this point.
The bitcoin craze got my attention back when it was about $10/coin. I knew people who had 1000s of those coins( got them when they were cheaper). As popularity grew so was the price. With all the FAKE advertorials, fake articles online and movies such as this, popularity grows further, making people who've invested earlier richer and richer. As with every monetary system - only a few really profit/will profit from this and the rest eventually lose.
I don't usually give 1 star for movies,but this was so misleading and narrowminded that it just deserves 1 star for the hidden agenda of raising the value and providing false information in order to raise the value of this unstable "currency"
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