The Bitcoin Experiment: A documentary about how real world is on a death spiral

[rdbase]

Watched this documentary which was put out last week (would of posted it sooner but have been having some issues w/real world problems ) by the rather well known youtube studio Plot11.
They seem to put out these docu-series every day mostly about global issues in the political front, from what you can tell by browsing their last few day's playlist.


The beginning starts off by saying how the fiat system is a failed mess for a financial system and how bitcoin seems to be the only viable option for us as a society can make a working one if we are to survive the upcoming financial crisis.
And as most of us are already living in from what you are reading in the news lately.

Anyways here is the documentary so you can judge for yourself.
https://www.youtube.com/watch?v=igw-gMlaxtc

Not too many views so far from when I am posting this notice. Just 6546 have viewed it with only 232 likes and 13 dislikes.

[OmegaStarScream]

Thanks for sharing!

Not too many views so far from when I am posting this notice. Just 6546 have viewed it with only 232 likes and 13 dislikes.

That's because the video is only available in 6 countries: https://watannetwork.com/tools/blocked/#url=igw-gMlaxtc

So, if anyone is getting "Video unavailable" as an error message, you'll have to use a VPN.

[AjithBtc]

The documentary runs for around 40 minutes of time. For users who have got little knowledge about bitcoin can get wide learning and awareness about bitcoin. The need for the elimination of intermediaries were also explained. The low number of views show, there isn't big response for news associated with bitcoin. The persons who've liked the videos were the real users of bitcoin, while the people disliked were the bank employees

[rdbase]

Thanks for sharing!

Not too many views so far from when I am posting this notice. Just 6546 have viewed it with only 232 likes and 13 dislikes.

That's because the video is only available in 6 countries: https://watannetwork.com/tools/blocked/#url=igw-gMlaxtc

So, if anyone is getting "Video unavailable" as an error message, you'll have to use a VPN.

Alot of people having problems with region restrictions as one other member mentioned this on another thread of mine but referring to having access to a site.

Shame. I tried to register but it says my jurisdiction isn't supported (UK)

So even people being from Great Britain can't access some sites these days.
They can use a vpn which have been referred to used by alot of youtubers when people are trying to watch certain movies on netflix or other streaming services being region restricted.
Which really is strange because they're paying for these streaming services in the first place.

[shield132]

I wouldn't rely that much hopes on bitcoin for massive use because it was never meant for that but the idea behind your post may apply to cryptocurrencies in overall. Bitcoin is just a good startup/example but it doesn't mean that it's unique and will suit everything in future. It is just a great model and you know, there doesn't exist V1 because we develop and develop.
There is nothing wrong with fiat model too, what's wrong here is government and in overall us because this is the world we created. We always try to make things easily but don't care about it's pros and cons and in this case I mean money printing like drinking water. We need something that won't give us possibility to fake it or manipulate with it and that's were crypto shines.

[rdbase]

The documentary runs for around 40 minutes of time. For users who have got little knowledge about bitcoin can get wide learning and awareness about bitcoin. The need for the elimination of intermediaries were also explained. The low number of views show, there isn't big response for news associated with bitcoin. The persons who've liked the videos were the real users of bitcoin, while the people disliked were the bank employees

Do you remember the term "Bank the unbanked"?
I do recall this motto to be from a cryptocurrency slogan from years ago. I think it was created for marketing purposes but with blockchain technology anything is possible and the banks are starting to see this now.

I wouldn't rely that much hopes on bitcoin for massive use because it was never meant for that but the idea behind your post may apply to cryptocurrencies in overall. Bitcoin is just a good startup/example but it doesn't mean that it's unique and will suit everything in future. It is just a great model and you know, there doesn't exist V1 because we develop and develop.
There is nothing wrong with fiat model too, what's wrong here is government and in overall us because this is the world we created. We always try to make things easily but don't care about it's pros and cons and in this case I mean money printing like drinking water. We need something that won't give us possibility to fake it or manipulate with it and that's were crypto shines.

That is where the developing you discuss about comes in to play. Bitcoin wasn't meant to work efficiently at a global scale, no. But with innovative new layers to it's blockchain such as the lightning network and using bech32 addresses(segwit) instead of legacy ones. Just these two advancements in it's development alone makes it that much closer to be on par with any other payment system.

To fake it or manipulate with it you say? I think you are referring to the altcoins.
As they are faking V1 of bitcoin's blockchain and manipulating the code to make a different kind of cryptocurrency.

[Harlot]

Will be watching this when I have VPN. But mostly we will hear the same thing as before about the topics involving Fiat currencies and how Bitcoin can be the solution for the upcoming financial crisis. Well we have seen it before during March of 2020 where even all of the markets are down including the crypto market Bitcoin was the first one to recover and it is pushing up right now. We can actually say that Bitcoin can be a good option when it comes to situation like this as fiat will definitely be affected everytime their is a economic crisis going on.

[dothebeats]

Thanks for the share! Have yet to finish it since I am occupied with some thing irl too.

From what I gathered so far, this documentary is trying to emphasize how the fiat system failed us in general, and are looking into the rabbit hole even deeper by explaining how it really is crippling the world's economy day-by-day and not just stating that "oh, fiat is bad, because f the government" argument. The first few minutes is kinda explaining what bitcoin is and what fiat is, and how the former is advantageous over the latter if the worse comes to worst--or a financial crisis--scenario happens.

It's a good starting reference for the argument of fiat vs bitcoin, though of course I would advice people not to use this as a single resource for what they should learn about how the world economy really works and how bitcoin can fill in some gaps that are severely weak on the said financial system.

[wiss19]

Everyone is free to say whatever they want to say, as for me, I am already tired of all these people that are making it seem like Bitcoin and cryptocurrency is the end to our problem.

Due to things like these , when some people meet me to know about Bitcoin, they always think that it is means for them to become millionaires, and some of them even ask me why I am not a millionaire yet, and that’s because of what they have read online, they are made to believe that Bitcoin is the solution to every problem in the world. That you’re making use of Bitcoin doesn’t automatically make you rich or better than other people, you can still go very broke.

[Fundamentals Of]

What we have to understand however is that Bitcoin has yet to be experimented with in a real economy. So saying that the fiat system is a failed financial system and that Bitcoin seems to be the only viable option for our society is saying that Bitcoin is the currency that is sent by the messiah.

You have to take note of the only in "only viable option." Personally, I would say everything is but an experiment.

[stompix]

Everyone is free to say whatever they want to say, as for me, I am already tired of all these people that are making it seem like Bitcoin and cryptocurrency is the end to our problem.

Yeah, some people are getting tired of both of these.
One that bitcoin will solve any problem that we currently have with this system and the second one the constant doom and gloom, how the world will end, how we're on this deaths spiral, and ...and nothing.
We, as human society has been through a lot more rouble than this, we're been through serious pandemic wiping half of the population, wars leveling countries, famines, and many more, yet, we're still here and far better than we were previously. Every time there is something serious there are some people predicting the end, only to be proven wrong, but they will resurface again, now it's the real end, after that this will be the one and so and so.

The persons who've liked the videos were the real users of bitcoin, while the people disliked were the bank employees

Yeah, the same bias, banks have made a ton of money from people buying and selling coins and exchange fees, while bitcoin hasn't put even a microscopic dent in their transactions, and yeah bank employees have nothing better to do that disliking videos on youtube. Do you think everyone has the same childish attitude?

[Fundamentals Of]

The persons who've liked the videos were the real users of bitcoin, while the people disliked were the bank employees

Yeah, the same bias, banks have made a ton of money from people buying and selling coins and exchange fees, while bitcoin hasn't put even a microscopic dent in their transactions, and yeah bank employees have nothing better to do that disliking videos on youtube. Do you think everyone has the same childish attitude?

In addition, crypto exchanges and other crypto businesses are opening bank accounts. Are banks opening accounts on exchange platforms? And for all I know bank employees are not taking part of this war. They're not taking sides. They don't care at all. They are just working for the sake of their regular salaries and other benefits. They even don't care about their banks. They only care that they are being fairly compensated for their work.

Undeniably, for now, the banks are still playing the most powerful role.

[cr1776]

I realize they like to have lots of views and lots effects, but this could've been a few paragraphs of writing or condensed down into a few minutes.  I'm sure they mean well, but for heaven's sake, get to the point.

They need a TLDW at the start.

[Ucy]

Will be watching this when I have VPN. But mostly we will hear the same thing as before about the topics involving Fiat currencies and how Bitcoin can be the solution for the upcoming financial crisis. Well we have seen it before during March of 2020 where even all of the markets are down including the crypto market Bitcoin was the first one to recover and it is pushing up right now. We can actually say that Bitcoin can be a good option when it comes to situation like this as fiat will definitely be affected everytime their is a economic crisis going on.

Couldn't watch it here(without VPN) unfortunately...Says "This Video not available".

Anyway, people should always remember that it's  one of Bitcoin important features: Deflation (which some campaigned against in the recent past) that is mostly keeping things from getting devalued. Imagine if majority had chickened out after massive and continuous campaign against its deflationary feature. I strongly believe that all of its other important features play (or would play) a good role in keeping Bitcoin safe. They should be strengthen not weakened...Though I'm in favour of a better regulated supply to keep volatility moderate and with some predictability.

[rdbase]

I realize they like to have lots of views and lots effects, but this could've been a few paragraphs of writing or condensed down into a few minutes.  I'm sure they mean well, but for heaven's sake, get to the point.

They need a TLDW at the start.

Uh, what paragraph?
It's a watchable video and not just a website to read about it from.

Will be watching this when I have VPN. But mostly we will hear the same thing as before about the topics involving Fiat currencies and how Bitcoin can be the solution for the upcoming financial crisis. Well we have seen it before during March of 2020 where even all of the markets are down including the crypto market Bitcoin was the first one to recover and it is pushing up right now. We can actually say that Bitcoin can be a good option when it comes to situation like this as fiat will definitely be affected everytime their is a economic crisis going on.

Couldn't watch it here(without VPN) unfortunately...Says "This Video not available".

Anyway, people should always remember that it's  one of Bitcoin important features: Deflation (which some campaigned against in the recent past) that is mostly keeping things from getting devalued. Imagine if majority had chickened out after massive and continuous campaign against its deflationary feature. I strongly believe that all of its other important features play (or would play) a good role in keeping Bitcoin safe. They should be strengthen not weakened...Though I'm in favour of a better regulated supply to keep volatility moderate and with some predictability.

Yeah unfortunately youtube is not allowing some of their content they are streaming to every user so it is in a sense a centralized system in itself.
Just becareful when you are choosing which vpn service to go with.
Most if not all which are cheaply available and more than likely the ones offered for free will be using your data while you are behind their service walls for their own purposes.
Just be cybersecurity aware and go with a paid-service which have good feedback from their users on sites such as trustpilot or trustedreview.

[0nline]

BTCBTCSo even people being from Great Britain can't access some sites these days. Undecided
They can use a vpn which have been referred to used by alot of youtubers when people are trying to watch certain movies on netflix or other streaming services being region restricted.
Which really is strange because they're paying for these streaming services in the first place.

[Slow death]

Watched this documentary...

i would really like to know what is the problem with my country that i cannot watch this documentary?



I'm going to take this opportunity to vent, YouTube has been behaving very badly, the other day they blocked my account without any reason and when I got in touch with them, they told me that I had violated the terms of their community, honestly, I still don't I understood nothing. Why can't I see this video?

The beginning starts off by saying how the fiat system is a failed mess for a financial system and how bitcoin seems to be the only viable option for us as a society can make a working one if we are to survive the upcoming financial crisis.

everything has advantages and disadvantages, bitcoin also has many disadvantages, in a scenario where a person dies and no one in the family has access to the private keys or the password of the person who died all bitcoin of the person who died will not benefit your precious family and this is one big disadvantage of bitcoin.

In a scenario where someone leaves $100 bitcoin in the wallet in the hope of the next day to buy a video card that costs  $100 and the next day that person wakes up and sees that the wallet only has $90  in bitcoin... this is another disadvantage of bitcoin

[XEsseKasper]

Unfortunately I am not able to see it also. But, from your post I can see the point of this video. I cannot agree neither disagree with it. The issue is that globalism and capitalism in the world are losing ground. Which system will replace them, it is about to be seen.

[GDragon]

Everyone is free to say whatever they want to say, as for me, I am already tired of all these people that are making it seem like Bitcoin and cryptocurrency is the end to our problem.

Due to things like these , when some people meet me to know about Bitcoin, they always think that it is means for them to become millionaires, and some of them even ask me why I am not a millionaire yet, and that’s because of what they have read online, they are made to believe that Bitcoin is the solution to every problem in the world. That you’re making use of Bitcoin doesn’t automatically make you rich or better than other people, you can still go very broke.

Same, Bitcoin has a long way to go, and as of now, it is still an alternative to fiat and not as something that will be a solution to all the problem in this world. We may believe that bitcoin will be big in the future but as of now, I'm sure we can't deny that we can't live without fiat yet. And you're right, I'm on bitcoin but I'm not a millionaire yet. It's not a platform to be rich, it's a currency.

I haven't watch the documentary, but from what I've read from OP, it sounds like the documentary is only one sided favoring bitcoin. It sounded like the filmmakers are really on the side of bitcoin in creating the documentary cause they've been describing bitcoin as something heavenly.

[Bitcoinpro]

anyone earning fiat honestly and working hard

becomes the victim and enters a death spiral

just look around at all the functional retards

how in gods name did they ever earn anything

without resorting to phsycophant behaviour

they talk normal sound normal bud you even

go close to hurting their feelings or stepping

on their toes an yeah, u might aswell club them first

either play the system or get played, also dont

underestimate the advantages of the govt

system using their own tactics to propel

cryptocurrency systems to new heights

with the advantage of only deflation in

asset prices to your holdings