Is bitcoin the blueprint for a bankless forex, or the most important pyramid scheme ever?

When the monetary world collapsed in 2008, a mysterious genius beneath the pseudonym Satoshi Nakamoto offered the structure for the right, bankless forex. Bitcoins cannot be solid, and could be transferred worldwide with one click on of a button, with out transaction prices. Up until at this time, no one is aware of who Nakamoto is, however his invention of the primary decentralized cryptocurrency grew to become world-famous inside a few years.

‘Bitcoin Jesus’ Roger Ver invested massively in bitcoins after they have been nonetheless price lower than a greenback, and in 2013 he noticed the bitcoin alternate charge reaching as a lot as 1000 {dollars}. What’s the underside line, now that this globally disruptive forex has grown to maturity? Is bitcoin the blueprint for truthful cash, separated from banks or states, or will or not it’s a brand new hierarchy from haves and have-nots?

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

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Credit:
Director: Hans Busstra
Analysis: 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. .