Wednesday, August 16, 2017

Now on Netflix: Banking on Bitcoin (2016)

Banking on Bitcoin (2016) - Directed by Christopher Cannucciari; Written by Christopher Cannucciari, Prichard Smith.

By Kenny Howell

The rise and subsequent fall of Bitcoin is examined in this new documentary now on Netflix.

Bitcoin is an online currency created by a mysterious programmer that would allow for people all over the world to exchange currency freely. The idea was to create something outside the modern banking industry which had become horribly corrupt, and give the power of currency back to the people making the exchanges.

Of course, things got co-opted by illegal stuff, like the creation of the Silk Road, which many people used to sell drugs all over the world in an untraceable environment. The creator of it was revealed to be Ross William Ulbricht, who was arrested and convicted, then sentenced to life in prison. That of course, tainted the image of Bitcoin, and it has been in a freefall ever since.


Banking on Bitcoin does a good job for someone like me of just giving an overview of what it is and just what happened to it in the early years, which of course in the tech world is just a few years ago. Director Christopher Cannucciari may be a bit too much of a proponent of Bitcoin, it could have been a tad more even handed, and it runs a bit dry of material in the last half. Still, if you are not knowledgeable of the currency at all, it is definitely a good place to start.

Banking on Bitcoin is now streaming on Netflix.

Rating: ***

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