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Published on 02 Nov 2015 | over 2 years ago

Is bitcoin the blueprint for a bankless currency, or the biggest pyramid scheme ever?

When the financial world collapsed in 2008, a mysterious genius under the pseudonym Satoshi Nakamoto presented the architecture for the perfect, bankless currency. Bitcoins can't be forged, and can be transferred worldwide with one click of a button, without transaction costs. Up till today, nobody knows who Nakamoto is, but his invention of the first decentralized cryptocurrency became world-famous within a couple of years.

‘Bitcoin Jesus’ Roger Ver invested massively in bitcoins when they were still worth less than a dollar, and in 2013 he saw the bitcoin exchange rate reaching as much as 1000 dollars. What’s the bottom line, now that this globally disruptive currency has grown to maturity? Is bitcoin the blueprint for fair money, separated from banks or states, or will it be a new hierarchy from haves and have-nots?

Originally broadcasted by VPRO in 2015.
© VPRO Backlight November 2015

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Credits:
Director: Hans Busstra
Research: Marijntje Denters
Producer: Marie Schutgens
Commissioning editors: Marije Meerman/Doke Romeijn
English, French and Spanish subtitles: Ericsson.
French and Spanish subtitles are co-funded by European Union.
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