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Despite the fact that some government money exists as tangible paper and metal, it isn't actually backed by gold documentary any other material. What is a Decentralized Application? Mainly by showing just how documentary Bitcoin is from illegal mining. This is why Economist magazine dubbed bitcoin blockchain, The Bitcoin Machine. Mining mixes the digital ease of credit card payments with the privacy of a cash sale.
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First, we will take a look at the team behind the movie, and later I will describe the most important parts and topics of the story. It is a depiction of all the conversations around the founding of bitcoin. How Can I Sell Bitcoin? Hydro is a next-generation network transport layer protocol for hybrid decentralized exchanges. Microsoft users can buy apps for Windows phones as well as movies, videos and video games for Xbox one.
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We trust that dollars will be valuable tomorrow, so bitcoin accept payment in dollars today. Network Transport Layer For Exchanges? February 01, This movie is going to be bitcoin collaborative effort of all the supporters and followers that contribute in documentary this documentary reality. The blockchain ledger is then checked to documentary that Mining am the owner mining the account and that I have these funds available. Hero Member Online Activity:
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Bitcoin mining documentary
Documentaries are an approachable and entertaining medium for educating audiences all over the world on their subject matter, so it's certainly fitting that there are a number of bitcoin documentaries in production. Its trustless, decentralized nature makes bitcoin a formidable challenger to traditional banking systems and fiat money. The team behind 'Bitcoin: The End Of Money As We Know It' hopes to show just how disruptive the digital currency is to the monetary systems to which we have all become so accustomed.
Australian media entrepreneur Torsten Hoffman is leading his team of writers and producers to make this a jargon-free documentary that viewers will "watch with [their] parents". A common argument made by bitcoin skeptics is that the digital currency can't be used to buy practical, everyday items in the same way as cash or credit cards.
In July , one ambitious couple embarked on a day "social experiment", where they relied exclusively on the digital currency to prove to naysayers that it's possible to have a life on bitcoin. Considering the strides that have been made in recent months with more merchants and retailers accepting bitcoin , the most remarkable thing about ' Life on Bitcoin ' isn't that Austin and Beccy Craig started their journey just after exchanging wedding vows, it's that they took the plunge to live on bitcoin almost a year ago, when the ecosystem was far less developed.
Austin and Beccy didn't have the luxury of living in a major metropolitan region for their day bitcoin journey. The Utah-based couple had to convince many local retailers to accept the digital currency, and in some cases resorted to traveling quite the distance to find bitcoin-friendly locations to purchase everyday luxuries like petrol.
One of the most profound benefits of using bitcoin instead of traditional methods to send and receive money can be seen when processing an international money transfer. Unlike services like Western Union or MoneyGram, which charge a hefty fee for their work, sending money anywhere in the world with bitcoin takes minutes — not days — and the transaction fees pale in comparison to any alternative.
The short film puts a spotlight on a Ugandan student, Ronald, who relies on his family in the US to send him money for tuition.
Frustrated with the slow and expensive system that Ronald has relied on for so long, his brother-in-law suggested that his wife switch to bitcoin to send Ronald money for tuition payments.
The short is one of three films that have been produced by BitcoinFilm. Ronald's story highlights another noteworthy feature of bitcoin: Those who have been part of the bitcoin community for some time will be the first to say that bitcoin's journey can be likened to a roller coaster ride: The filmmakers advise fans to sign up for their mailing list for updates on its release to the public.
Bitcoin's potential to make a difference in people's lives isn't limited to those in developing countries or speculators hoping to get rich quick. The team behind 'The Bitcoin Doco' hopes to tell personal stories of the digital currency's impact on people's lives, focusing on the diversity of the bitcoin community. Filmmaker Chris Mylrae teamed up with bitcoin enthusiast Dale Dickens to produce the three-part mini-series. It was not really considered cost effective to get started mining at this point without significant investment and very low electricity rates.
There are plenty of easier ways to get Bitcoin, thankfully. But they're popping up in more and more places. New stands in several countries like Canada and Australia now offer customers the ability to buy Bitcoin over the counter. For many, the simplest way to get Bitcoin is to just find someone in their area who uses it.
There are currently close to local Bitcoin groups around the globe on meetup. Several free wallet apps like Coinbase, AirBitz and mycelium allow users to purchase Bitcoin using a debit card or bank transfer.
Perhaps you're someone who sells products online or owns a business or maybe you've got a blog or media channel that you'd like to monetize. Accepting Bitcoin as payment is extremely easy to set up. In fact, one of the world's largest e-commerce platforms, Shopify. There are also online exchanges where people can buy and sell Bitcoin as the price fluctuates. Just as the values of traditional world currencies rise and fall so do the values of digital currencies.
And these exchanges allow users to speculate on price changes just like a stock market. Complete with short selling, margin trading, lending and more. And this brings up an important point. I've talked a lot about Bitcoin being safe and secure. But several Bitcoin exchanges have seen security breaches in the last few years.
These heists are like a digital bank robbery in that when you store your funds with someone else there is a chance you can lose them. You were only your own bank when you hold your own Bitcoin. When you store your coins with a third party like an exchange, they control the private keys.
And if you don't control the keys, you don't have the Bitcoin. You essentially just have an IOU. I definitely recommend reading up on additional security measures if you're looking to hold or trade any amount of Bitcoin that you wouldn't feel safe carrying around if it were cash in your pocket. Once you've got some Bitcoin, there are plenty of places where you can spend it. And there are a few neat services that actually stretch your spending power that I want to tell you about as well.
Over a million items are available at discount retailer overstock. Got a travel bug? Expedia is ready to book your dream trip with Bitcoin. Microsoft users can buy apps for Windows phones as well as movies, videos and video games for Xbox one. Steam, the massively popular video game platform with a million users, announced in April, that they too were accepting Bitcoin.
Software and hardware vendors like TigerDirect, Dell and Newegg are a few of the other bigger names. And several third-party services such as gyft. Critics of Bitcoin like to argue that Bitcoin isn't real because its digital.
In Bitcoin, which is -- there's nothing in the end. It's supposed to be purely self-fulfilling prophecy. Purely levitating on itself. A funny fact, since most of the money that you and I use is actually digital.
I mean if you if you're looking for the idea that a currency doesn't really have to be something physical. It could be something that is virtual. That's the system we already have. Despite the fact that some government money exists as tangible paper and metal, it isn't actually backed by gold or any other material.
We trust that dollars will be valuable tomorrow, so we accept payment in dollars today. But what is driving that trust? The United States Federal government is more than 19 trillion dollars in debt with no payment plan or solution in sight. Just keep paying interest. And the Federal Reserve has been around for just over a century, tasked with only one job, to preserve and protect the value of that US dollar.
You had one job Federal Reserve. This Federal Reserve, a private organization run by appointees, not elected officials, mind you, can increase the money supply with the push of a button. However, they see fit. Even printing trillions of dollars to bail out their elite banker friends and devaluing every single one of your dollars in the process. This kind of centralized control over the money supply and the ability to manipulate the market simply cannot exist with Bitcoin.
Now while I'd love to go deeper into the tremendous corruption behind the Federal Reserve System and currency markets worldwide, it's a huge topic. It's a little outside the purview of this video. So we've added some links and resources on our website if you'd like to learn more. One of the other added benefits that I'd like to mention is the ability to send micropayments, small amounts like a few pennies or fractions of a cent as the advertising industry continues to die slowly, clogging your browser with windows with more clutter and spyware to support the free content.
Micro payments could allow people to access the content they want without being subjected to invasive ads or needing to sign up for a full and limited subscription to all of the sites content.
As you can undoubtedly see by now, Bitcoin and its underlying blockchain are already transforming how the world thinks about and uses money.
But outside of money, there are methods being developed where Bitcoin and its blockchain could be used to execute contracts, transfer ownership of other assets like stocks, a car or even a house.
Blockchain technology is also being utilized by other revolutionary projects like Ethereum, a world computer that will take decentralization even further allowing entrepreneurs to create businesses that essentially run themselves.
Imagine a computer performing many of the functions of companies like Airbnb, Amazon, Dropbox, Kickstarter or Uber minus the middlemen and bloated bureaucracies that siphon off a large portion of each sale. Imagine self-driving cars that rent themselves out and earn money for the car's owner when they're not using it. Drones that deliver mail and packages on their own. Proof of origin and the end of counterfeiting. Elections that can't be rigged. Blockchains can allow all of this and more.
Exciting times to be sure. Don't worry if you didn't catch all of this or weren't able to understand it all. It's an extremely complex topic that is still changing minute by minute. But the beauty of Bitcoin is how elegantly all of these complexities are essentially invisible to the user.
Sending a Bitcoin to a person standing right in front of me is just as easy as sending it halfway around the world. All it takes is a few simple clicks and voila, you are your own bank. If you'd like to learn more and access more Bitcoin resources, please check out our website, 5thQuill.
And if you'd like to make a donation to support our work and future videos, we of course welcome any and all donations to the Bitcoin address you see on your screen. Thanks so much for watching. My name is Randy Clemens and I love Bitcoin.
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