Magic Money: The Bitcoin Revolution (2017) User Reviews

explains a lot about bitcoin but some things don't add up

[That_1_guy · 6/10 · 20 December 2017]

One thing that they don't tell you is most countries will let you purchase bitcoin off an exchange but wont let you sell on exchanges for your local currency, if you want to sell your bitcoin you need to find a private buyer. Also transaction fees are heavy any time you move bitcoin because the exchange you use to purchase the bitcoin also charges a fee.

So if you want to pull large amounts of bitcoin off your exchange wallet and place them in a more secure "hardwallet" for offline storage you get fees for moving off exchange and also fees for placing in hardwallet. Bitcoin can take up to 3 hours for transactions to complete they say bitcoin cash and some of these other "forked tokens" are going to be faster but what does that mean for bitcoin will it's token become more valuable because it functions better? How will your government be able to tax it because I'm pretty sure a tax system they mentioned in the film where you choose if you wanna pay or not is about as realistic as Santa Claus.

Very narrow view with hidden agenda. Avoid!

[WatchAndSmile · 1/10 · 12 December 2017]

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.

Bottom line: 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"