Review of The Rise and Rise of Bitcoin (2014) by Kevinluv — 18 Nov 2014

Although, I don't care for the title of the documentary, which is pure hubris, the actual documentary is quite good as the filmmaker most definitely has excellent access to big players within the bitcoin world. The bitcoin people all come across as motivated, sincere, and gifted in intelligence. The government and bank authorities interviewed do a commendable job too in outlining their positions.

The upshot of bitcoin, is it is a digital currency and unfortunately for bitcoin proponents, because the authorities want to regulate bitcoin as if it is a bank, they have to behave as if they are subject to these same laws without having the experience or background in actual banking. That is why Charlie Shrem suffers the indignity of being prosecuted for money laundering. Then there are other entrepreneurs in bitcoins that have lost control of their bitcoins to cybertheft or outright theft by insiders or those that have compromised the bitcoin exchange system. Unfortunately, for innocent investors that have lost their bitcoins there is no realistic recourse to ever get them back.

Through it all, you must admire the effort, drive, and determination that the overall bitcoin world has brought to bear and to demonstrate to us that the old-school way of banking, is not the only way that banking need be conducted, that digital currency with integrity of its currency has its place. Unfortunately, for bitcoin, and not discussed within this documentary, the powers-to-be will never allow bitcoin to succeed as a real alternative to present day banking, as modern day bankers will either force it out of business or co-opt it. There is no in-between.