Золото цифрового века Bitcoin | Премьера BitNovosti.com


Leading Russian Bitcoin news agency BitNovosti.com presents sponsored by exchange service ExAll.club cloud mining Hashflare exchange service Alfa Cashier film produced by film produced by TV company “Govorit i Pokazyvaet” USA, Florida, 2010 Once upon a time an American man called Laszlo wanted to have some pizza. But he didn’t want to tear himself away from his computer. At that time Laszlo was keen on acquiring bitcoins, a kind of Internet currency had recently appeared. Chatting with other Internet money enthusiasts, he offered his bitcoins in exchange for the pizza delivery. He offered ten thousand bitcoins for two pizzas. It was 21 of May, 2010. From Internet forum:
Laszlo: I like it with onion, pepper, sausages, mushrooms, tomatoes, pepperoni and so on. No fish please. It can be even a regular cheese pizza. Write to me to arrange it. bitcoin2paysafe: What country do you live in? Laszlo: Jacksonville, Florida, USA ender_x: You can sell your bitcoins and get 41 dollar for them BitcoinFX: I would have bought you a pizza but I don’t live in the USA, I’m afraid my order can be considered a joke. Are you really that hungry or are you such a pizza lover? Laszlo: I just think it would be funny to say that I’m buying a pizza for bitcoins. The following day Laszlo announced in a social network that a man called Jercos ordered him a pizza and got the bitcoins promised. Laszlo: I want to say that I’ve bought a pizza for 10000 bitcoins. Look at the pictures. Thanks, Jercos! Sirius: My congratulations, Laszlo! Some time passed and Internet money started to rise in price. Two months later 10000 bitcoins that Laszlo paid for the pizza was equal to 600 dollars and up to 2400 dollars by the end of the year. By the middle of 2013 they cost more than one million dollars. Probably those pizzas are going to be the most expensive ever. film Crypto-currency. Gold of the digital age. My occupation is called “a miner”. But I don’t extract ore or coal. Every second my personal computer filters a great deal of useless digital data in order to obtain gold from it. This is the gold of the new cybernetic age, and it’s called bitcoin. On 31st of October, 2008, there appeared a scientific article in the Internet. It described absolutely innovative type of e-money that was called bitcoin. The author of the article was an unknown person, Satoshi Nakamoto by name. Several months later a fully working payment system, made by the same person, appeared in the Internet. Alexey Parchunov, bitcoin enthusiast:
The idea is so elegant, so exquisite in its mathematical way, you just can’t resist it. Bitcoin makes impression at first sight for those who get to know its principles. After a while, Satoshi Nakamoto disappeared from the net. He never appeared again. Nobody knows the real name of that person or his address. We don’t even know if it was one man or a group of creators. Somebody consider him as an alien, or artificial intelligence from the Net. Oleg Rodivilov – bitcoin investor:
Satoshi Nakamoto became a legend. He is even compared to Santa Claus. To meet Satoshi Nakamoto is as impossible as to meet Santa Claus. Anyway he’s got his reasons to stay anonymous. Otherwise there won’t be many chances to have a personal life for him. It’s known that Satoshi Nakamoto got rather many bitcoins at the very beginning so he is a very wealthy man now. On March 6th 2014 Newsweek magazine announced that one of its workers found Satoshi Nakamoto. But in fact she found a Japanese programmer who lived in California, Dorian Nakamoto by name. She got to know that he changed his name from Satoshi to Dorian. Dorian Nakamoto openly refused to be the creator of bitcoin. He also didn’t know much of cryptography thus wasn’t able to make the crypto currency. Oleg Rodivilov – bitcoin investor:
“Crypto” means code. Digital codes have been used for a long time. The example is a digital password for bank account. Or digital signature – it’s a unique code as well, the same as a person’s handwriting, his signature. Such code is a great value itself. Lots of computational resources are required to create it. So it’s now decided to use such code instead of money. Crypto-currency doesn’t require a single printing-press for emission. Any person can install the software to obtain bitcoins to his or her personal computer. This process is called mining, and those engaged in it are called miners. Crypto-currency. Gold of the digital age. I heard about bitcoin in 2010 for the first time. It was a period of financial crisis and it was hard to get a job then. I was looking for an additional way to earn money on the Internet. There were hundreds of ways to earn money there. Most often it were just scams or gambling. But one of the sites told about the other kind of job You could join the system that made some kind of calculations. And the use of processing power was paid for fairly. The system was called “bitcoin”, bitcoins were called the currency of the future, the next step of money evolution. “The origin of money”
Before people invented money, they used other things to barter. For example, meat could be exchanged for a stone axe But meat cannot be kept for a long time, you couldn’t store it. Axes are heavy and bulky; they are not convenient to be used in exchange operations. People started to exchange smaller valuable countable items. Such as iron studs or something similar. But if you use studs for exchange you’ll soon have a shortage of them for practical activities. So people come to exchange beautiful, rare but useless things – sea shells. So cowry sea shells, as they were beautiful, countable and rare, become the very first money. They were not practically valuable, people just agreed to consider them a token of value. Georgy Glovely, professor of economic methodology and history (Higher School of Economics, Moscow):
Aristotle asserted that money is a token of value and that people agreed to consider it so in order to exchange value. It was the State that assigned noble metals to be the representation of money, and ensured this agreement among people. Personally, I didn’t care much about bitcoin at that time. The only thing that mattered was that I could earn money with it. Real money, not virtual. Bitcoin was exchanged for dollars and rubles and its’ currency went constantly up. Users saw many advantages in bitcoin. For example, it helped to transfer your money to any place in the world. The transfer goes from one person to another, without banks or other financial institutions. This system is called “peer to peer” and suggests anonymity. Seller and buyer know only each others’ account numbers. No real names – absolute confidentiality, absolute freedom. Oleg Rodivilov – bitcoin investor:
All forms of electronic money face the problem of double spending. For example, you’ve got a sum of money and you want to transfer it to another person. In banking, lots of people around the world keep an eye on this process. They charge the money off your bank account and place it to the account of your recipient. Certainly, these people get their salaries, and you pay for it in form of transaction fees. All this is done in order for you not to transfer the same money twice. All these thousands of people make sure this doesn’t happen. With bitcoin the problem of double spending has disappeared. All the transfers of this currency are recorded in a special log file. Just one order to transfer money is approved, all the others are denied. Miners check the process and cancel all the invalid transfers. Every computer, equipped with the so-called “mining-farm”, contains the copy of all the Bitcoin transactions ever made. This log file is called “a blockchain”. It’s constantly filled up with new transaction data. For Bitcoin users, the cost is practically nothing. Miners get the rewards from the Bitcoin system itself, it consists of newly created electronic “coins”. So mining is a critical part that supports the whole system. Michail Chobanyan, the owner of bitcoin-agency “Kuna”, Kiev:
If we compare bitcoin to Western-Union or other banking transactions – we all know how much it all costs. It’s a big percentage commission, and sometimes a fixed fee as well. Bitcoin transaction costs less than one cent. No matter how big the transferred amount is. The process takes a moment and doesn’t involve national or other banks, tax services that could prevent you from getting this money – bitcoins. In 2013 I decided to start mining bitcoins all by myself. But in order to obtain electronic currency you had to invest enough real money. The first miners could extract bitcoins with the help of only their personal computers. It turned out later that a special type of computer video cards were especially appropriate for mining calculations. Nowadays, specialized computer farms are created for mining the bitcoins. These are special computers that contain several high-capacity video cards. And so I created my own farm. Mining farm is the basis of bitcoin system. It’s a money printing press, a bank distributed to thousands of computers that helps to transfer money between people, and also a transaction archive. “Banks and banknotes”
With the expansion of trade it became obvious that sea shells are not convenient enough. So gold naturally replaced them. In order to avoid constant measurement of gold it was decided to break it down into equal chunks – mint the coins. But it was dangerous to keep lots of gold coins on you. So there appeared special institutions that kept those coins in custody – banks. So people started to exchange receipts that meant: “This is the where my gold is. I authorize you to retrieve it from there.” Those receipts come to be known as bank-notes. Currently, our banknotes, chekcbooks, credit cards and all such are not exactly money. They are our orders to the bank: “Give this guy a certain portion of my money – I authorize it.” But when we make payments, this never comes to our mind. Many people think that bitcoin was the reaction to the world economic crisis of 2008. The crisis strongly undermined people’s trust in the existing financial system and, first of all, in banks. People blamed bankers for issuance of loans that were not secured. States were blamed for excessive national currency emission. Crypto-anarchists and libertarians were the first followers of bitcoin. They thought that states were not supposed to interfere into people’s affairs. Crypto-currency was the means of economic freedom for them, the most important invention after Internet. Innovative money, to their mind, is to the regular (fiat) money that email is to paper snailmail. Alexander Abramov – professor of Investments and Stock markets of Higher School of Economics (Moscow):
We should consider bitcoin as a part of integrated solutions to the current financial market issues. We can see that financial crisis of 2008 has scared everybody. Systematic risks, credit risks massively realized back then. It was pretty dangerous for the entire world. In fact, modern financial system is only 50 years old, it exists since the abandonement of gold standard. And this system was drastically damaged by the crisis of 2008. Before it the quantity of money was equal to the quantity of all the gold mined in the world, afterwards it could be limited only by common sense of central banks. But financiers often lacked common sense. And this is the drawback of the system. «Emission and inflation»
Economic development accelerated since 19 century, with mass production of goods. Some economists suggested that the amount of issued money is supposed to increase with the amount of goods produced: “Otherwise people would not be able to afford them!” This process of creating new money is called “emission”. Previously, the emission was organic. As more gold was obtained from the mines, more gold coins were minted. But the growth of gold supply couldn’t keep up with mass production of goods. So, bankers were successful in scrapping the gold standard. Once you could have exchanged every banknote with gold, but nowadays it became impossible. The states were happy to get the opportunity to print as much money as they liked. But there’s always a temptation to print just a bit more, for a good cause… Georgy Glovely, professor of economic methodology and history of Higher School of Economics (Moscow):
Keins thought that gold standard prevents monetary policy that “stimulates demand” and so it prevents solving the problem of mass unemployment. That’s why Keins was fighting against gold standard, and he got a support at the UN Monetary and Financial Conference in 1944 (Bretton Woods). The system of currency rates that was created back then was mostly in the interest of USA. However, it was not as radical as Keins initially suggested. In fact, he wanted to create the new world currency – bankur. Controlling the printing press of world reserve currency, USA has little limits to print as many dollar notes as possible. Enough to buy the entire world, it seems. Common sense has long been forgotten. All the national currencies became dependent on the US dollar to some extent. Bitcoin is not like other currencies in that respect. Many financiers now see the great power in the electronic currency that was once little more than a toy. This power, to their mind, could put in question USA monetary dominance. They see Bitcoin as a long-term alternative to the all-powerful US dollar. Alexey Parchunov, bitcoin enthusiast:
Bitcoin is not secured the same way like the US dollar for sure. That’s because dollar is secured by violence. Bitcoin has nothing to do with violence, it’s all about voluntary contracts between people. As soon as bitcoin was created, it started to get more and more followers. Bitcoin emission is ensured by mathematical calculation only. No one has authority to speed it up or slow it down. Those in power are powerless here. That is the basis of the system created by Satoshi Nakamoto. Like a clockwork, every 10 minutes there appear 25 new bitcions in the world. It doesn’t matter if 10 people or 1 million people mine at the moment – there still going to be just 25 coins. The calculations just become more complicated when more people participate in mining. When you mine bitcoins, you are always in a race, all the time. Bitcoins attract more people and it makes the equipment for mining it more expensive. In time, it became obvious that my little farm didn’t have enough power to compete. Sci-Fi writers at different times suggested several ways to replace gold standard. They suggested clean water, air or kWh of energy as a new monetary standard. With the advent of crypto-currencies, we can now consider computer processing power as a standard of value measurement. It turns out, “the gold of a new age” is not a natural resource or brick and mortar production capacity, but a digital technology artifact. Looking for new ways to make money, computer manufacturers started to create production facilities to issue crypto-currency. There specialized bitcoin mining chips and servers appeared. They are called ASIC-miners. First ASIC-miners were produced in China. They were sold on terms of prepayment only and they could cost many thousands of dollars. Buyers had to wait for about half a year. But anyway the demand was huge. One of the major mining equipment manufacturers in Europe is located in Tallinn. Nikolai Pavlovsky, Asic-miners producer:
The demand is rather big, and it doesn’t go down, despite the fact that mining is getting more difficult. There are newcomers among the buyers, who have recently heard of bitcoin. There are the professionals as well; we produce special farms, consisting of the whole block of Asic-miners, for those people. Our clients are absolutely different people, of different ages and countries. Some of them are from Europe, Russia, South America, USA and Japan. Professional mining capacity is increasing constantly. Home-made farms are not nearly that productive. Private miners deal with very small that’s left or are just thrown away. New processors work so hard that they get overheated, lots of energy is spent to cool them. Arctic, 2014. In order to reduce the expenses, some of the biggest mining corporations shift their data centers to Arctic. Naturally cold environment there creates suitable temperature for mining work. Here, beyond the polar circle, financial empire of the new digital age is being built. This is the empire of bitcoin. Alexey Parchunov, bitcoin enthusiast:
Even today, the Bitcoin network holds more computing power than all the world supercomputers put together. That’s why even if the state actors wanted to spend taxpayers’ money to disrupt it (which would be stupid, in my opinion), such attack is not guaranteed to succeed. Since such state actor needs to surpass both at financial and technology level joint capabilities of all the bitcoin supporters all around the world. Regular money – dollars or rubles – can be divided up the hundredth parts; they are called cents or kopeks. Bitcoins can be divided up to the eighth digit. It means you can pass one hundredth millionth part of bitcion to anyone. The smallest part of bitcion is called satoshi, in honor of the creator of this crypto-currency. This feature is a good point for charity and donations. If you want to donate a small sum of money, for example 1 ruble, with current electronic payments commission is going to be much more than the donation itself. You give 1 ruble and pay 5 more for the transfer. With bitcoins you can transfer the sums less than a kopek without additional payments. Small efforts can bring significant results. Sergey Solovyev – world expedition UNESCO manager, writer, publicist:
If you deal in bitcoins, you are better off by 30% instantly, because you don’t have to cut in banks, state interest and inflation. You become independent from external interests. The only dependency is on the amount of people who trust in bitcion. The more people trust bitcoin – the more powerful it is. It’s surprising, that one of the first countries to support a new crypto-currency was the one, whose financial system was endangered by bitcoin. Regulated bitcoin exchanges are being set up in the USA. Some states have many bitcoin ATMs for bitcoin–dollar exchange. Some companies even pay their employees a salary in bitcoins, if they ask for it. Maybe USA decided to surrender to Bitcoin without fight, but maybe they were waiting for the crypto-currency to appear and were ready for it. Roger Ver, bitcoin evangelist, multimillionaire:
Before bitcion people had to ask for permission from a bank or from a government to send or receive money with other people. Now thanks to bitcoin you don’t have to ask anybody’s permission. It just works. You can send or receive bitcoin just as easily as you can send or receive e-mail and thus can change the way everyone does the business with everyone else everywhere in the planet. 2013 was a year of rash rise of bitcoin currency. In the beginning of the year one bitcoin cost 13 US dollars, in December it was equal to more than 1000 US dollars. It was one of the most significant price rises of financial assets ever. Those who had believed in bitcoin from the very beginning, became millionaires. New crypto-currency drew the attention of many financiers and state institutes at once in different countries. Bitcion obtained powerful allies. Financiers, investors, brokers, hedge fund managers started to make money with the help of Satoshi Nakamoto’s experiment. CEO of Sberbank German Gref was the first Russian financier to publicly share his opinion about bitcoin. On 24th of January, 2014 in Davos he said at the interview to Bloomberg agency “Digital currencies are a very interesting international experiment that breaks the paradigm of currency emission… Definitely they shouldn’t be prohibited; we should think them over and possibly try to regulate them.” Limited emission of crypto-currency is its’ most prominent feature. It makes it look more like natural resource, rather than regular money. “Bitcoin” is just a first implementation of crypto-currencies’ principles. That’s why it’s very important to study the functioning of digital gold system; it may be useful for national currency development. But along with merits of crypto-currency, bitcoin system has its specific drawbacks. Nobody “stands” behind Bitcoin. It is not supported by any official institution, so bitcoins’ loss will not be compensated to their owners. The second is perceived “anonymity”. It makes bitcoin useful to those who break national laws, aimed at preventing money laundering, tax dodging, terrorism financing. The announcement of Central Bank of Russia on 27th of January, 2014 called “About the use of virtual currencies, bitcoin in particular for transaction” proves that these drawbacks did not go unnoticed. “Bank of Russia warns that exchange of virtual currency to Russian rubles and foreign currency will be considered as a suspicious act concerning criminal money operations and terrorism financing”. Danilov Dmitry, office of economic crimes of the Russian Prosecutor General:
This currency is anonymous it’s not secured by real value, and it can’t be confiscated or frozen by law enforcement. Its price is defined by a pure speculative actions. Crypto-currency activity thus contributes to shadow economy and contradicts law-obedient people’s interests. After the Central Bank’s of Russia warning, bitcoin drew the attention of law enforcement agencies. Though crypto-currency was not prohibited officially, its use was not regulated by law. Danilov Dmitry:
We investigated the facts of accepting digital money for payment. Such cases were opened in Volgograd, Novosibirsk, Novgorod regions, in Saint-Petersburg, Moscow and some other regions. Office of Public Prosecutors issued necessary guidance documents to conduct such investigations and control procedures. In Volgograd region the prosecutors’ control resulted in administrative proceedings for taking virtual currency payments for advertizement. Internet forum:
Xxx In the beginning of this week our company was visited by region Prosecutors and Police. They had a warrant from General Prosecutor to inspect our company, as we were receiving bitcoins as payment; they said this broke the Law of Central Bank. Xxx In fact they say that I’ve violated the Law of Advertising, because I shared the information that was prohibited by the Law. Zzz Probably they would just scare you without much investigation. You’ll have to challenge it in the following court… Maybe it all works for the better in the end; the Judge would have to look into the legal matter more thoroughly. Aaa As far as I know, you can’t take any currency but Russian ruble and notorious “accounting unit” ($) as a payment in Russia. Alexander Abramov – professor of the Investments and Stock market of Higher School of Economics (Moscow):
It may be dangerous that people, not very smart in a financial way, take their own decisions. Those are not caused by rationality and practicability, but by advertisement or some doubtful novelty. People could have invested in this “money”, but they can’t realize the risks they bear. It usually ends up with lots of people losing their money and then the state has to deal with all this aggressive crowd of losers. Naturally the state doesn’t like it, so they chose to say: “We can’t allow having angry investors, we don’t want such things happening”. Being experienced enough, I kept my bitcoins in the MtGox broker’s board; it was the biggest in the world at that time. On February, 2014 the site was unexpectedly unavailable. Thousands of people tried to enter it in order to make sure their money was safe. The site owner announced later that, because of the error in the program, hackers stole more than 700 000 bitcoins. I lost all my bitcoin capital back then. Along with me 127 thousand people lost their savings. Oleg Rodivilov – bitcoin investor:
MtGox exchange crash was a very suspicious business. It was one of first exchanges that worked with bitcoins, the biggest and absolutely legit. Registered in Japan, but it worked officially in the USA with their strict financial laws and around the world. At first there was the information that hackers stole 750 000 bitcoins, at that time that was equal to half a billion dollars. They didn’t find any weakness in Bitcoin itself, as the system is impossible to break. But they found fault in the MtGox exchange software. Later on, there appeared the information that stolen bitcoins were found at the account of the head of MtGox. It was him who couldn’t resist the temptation to take the investors’ money. The investigation is on-going, but the bottom line is: lots of people lost lots of money and it couldn’t be returned. “A pyramid scheme?”
Financial pyramid – is a way to get money doing nothing. The first pyramid was created by the Italian man Charles Ponzi, so the scheme was named after him. He told everybody that he found a great way to make money. If you gave him one dollar he would return you back two in three months. And he really gave the promised returns. Why not? People just brought him more and more money. This is the principle of a pyramid. It doesn’t produce anything. Those who come earlier get profit from the money of those who come later And the organizer gets the most of all; he just takes other people’s money. Sooner or later new people stop coming, and the pyramid crashes. Most of investors get nothing. Alexey Parchunov, bitcoin enthusiast:
Historically, bitcoin is not about that. It’s not even about some brilliant technologies or their implementation. Bitcoin is about something else entirely. It’s all about freedom. For many people who are into Bitcoin, it’s not just a way to earn money or to pay each other. For them, crypto-currency is an ideology of economic freedom. Enthusiasts are bringing this message to the masses. One of such evangelists is Roger Ver, a businessman, originally from California. As soon as he got to know about crypto-currency he started to invest all his money in it. As a result, he made several hundreds of millions of dollars. Now he is about to become a Bitcoin billionaire. Roger Ver, bitcoin evangelist, multimillionaire:
I first heard about bitcoin in January or February of 2011, so, over three years ag and I realized it was going to change the life of everyone on the entire planet because it’s the first time when anyone can send or receive any amount of money anywhere in the world without having asked permission from a bank or government and that’s a wonderful, wonderful thing! Roger Ver is called Bitcoin Jesus. His belief in the new currency is kind of religious. He helps many of his acquaintances to create electronic wallets and transmit a bit of bitcoins to start off. Ver is not alone with his messianic ideas. It’s not a financial but a non-profit organization called “Bitcoin Foundation” that coordinates promotion of Bitcoin ideas around the world. Being rather powerful, this organization also consults legislative authorities the world over. Moscow, 2014
On April, 23rd, 2014 there was the first conference in Moscow devoted to bitcoin, it was called “Bitcoin conference Russia”. It was organized by the exhibition agency “Smile expo”, but supported by the “Bitcoin Foundation” as well. Bitcoin miners, investors, online exchange creators and so on gathered there. Alexey Parchunov:
I will put all my effort into making bitcoins become real money. So that we could use it everywhere, pay with bitcoins, keep our savings in bitcoins in order to manage them the way we want it. The conference was full of highly dedicated people. Everyone had some business plan of his own connected with Bitcoin. They all trusted Bitcoin, they put their money in its’ further development. But many of them were frightened with the uncertain position of bitcoin in Russia. There was no law at that moment that either permitted of prohibited its use in Russia. Danilov Dmitry, Office of the Prosecutor General of the Russian Federation:
Unfortunately, we can see that this process will just go on developing on its own. That’s why we thought it was a high time to decide something, to create some law regarding it. There are some countries that prohibit the use of Bitcoin. There are some countries that prohibit the use of Bitcoin. (The only country that actually did it was Thailand, and it only lasted for a year) There are some other countries, for example Germany, USA, which simply regulate its use. Most countries have not yet made final decision regarding the use of bitcoin as this decision should be very careful. The information we’ve got says that this currency can be definitely used for criminal purposes. In autumn of 2013 China prohibited banks from processing payments in bitcoins or exchanging them to the national currency, Chinese Yuan In the autumn of 2014 the draft law proposed in Russia not only aimed to prohibit the use of bitcoins, but also their emission, or mining. Russian citizens can be punished by the penalty of up to 50000 Rubles, companies – up to one million Rubles. Roger Ver:
Governments love to control people and tell them what they are or aren’t allowed to d Bitcoin allows anyone to send or receive any amount of money without permission of the government so maybe governments don’t like that, but at the end of the day bitcoin’s impossible to be stopped or shut down or controlled so it doesn’t really matter what sort of laws or regulations government puts and places on bitcoin. It’s unstoppable. Even during short life of bitcoin, its reputation was badly affected In 2011 Silk Road dark web market site started operations 70 percent of the goods offered there were law-forbidden items, psychotropic drugs, narcotics. All the payments were made in bitcoins. It made both seller and buyers anonymous. 2nd of October, 2013, the owner of the site, William Ross Ulbricht, aka “Dread Pirate Rogers”, was arrested by the FBA. As the investigation revealed his he had the bitcoin wallet at the moment that kept 144 thousand coins. Oleg Rodivilov – bitcoin investor:
Anonymity of bitcoin attracts many people. For sure, it makes bitcoin suitable for illegal actions. But it’s really not unique in this respect. We know that most of illegal things are paid for with untraceable paper cash. But nobody wants to outlaw paper cash, right? We just can’t do without it. It can be said that FBA recognized bitcoin as not criminal per se, because they didn’t destroy them once in possession. As it’s done with illegal goods. Instead, in June, 2014 most of the bitcoins were sold at the open auction, for more than 8 million dollars. American authorities seem to be rather loyal to this anonymous crypto-currency. But can we call it really anonymous? Every day there appears the information that special services, in the USA especially, spy on online life of millions of Internet users. “The brave new world”, described by futurists, turn out to be the society of total surveilance. Bitcoin system holds the information of every transaction, every money transfer. Bitcoin wallets are anonymous; they are identified by a random combination of letters and numbers. But if somebody finds a way to tie this information to a person, each step of this person, income, every purchase will be revealed. On the whole I didn’t care what the bitcoin is, – money, assets or some innovative type of property. Professional bitcoin miners forced out small guys like me. But other crypto-currencies have appeared there after bitcoin: litecoins, dogcoins. Using the same principle as bitcoin, they still haven’t attracted the attention of world financial policy and big corporations. So there may still be some work out there left for my home-made “mining farm”. Every day new crypto-currencies appear, that’s the fact that can’t be denied. They can be used, can be prohibited, but can’t be ignored. It’s become a part of our reality as well as e-mail without envelopes and postmen, and international conversation by Skype without a telephone operator. Michail Chobanyan, the owner of bitcoin-agency “Kuna”, Kiev:
I’d like to quote Mahatma Gandhi. “At first they don’t notice us, then they laugh at us, then they fight with us, and after that we win”. It’s also a very apt reference to the story of Bitcoin. Thus, there are those who don’t know about bitcoin. There are those who laugh at bitcoin and compare it to the financial pyramid or a ponzi. Some people try to fight bitcoin, for sure. And there are those who have realized that bitcoin is the future, and it’s already here, and there’s no way to fight it. And they invest in the development of bitcoin infrastructure and start-ups. Roger Ver:
If bitcoin becomes used all over the world, one single bitcion that today is worth hundreds of euros or dollars it will have to be worth hundreds of thousands or maybe even one million euros or dollars for one bitcoin. That’s a real possibility if bitcoin is going to be used all over the world. Alexander Abramov – professor of Investments and Stock market of Higher School of Economics (Moscow):
I believe it’s an interesting innovation. This is the search for new types of money for the new environment that is now emerging. But I think its time will come in 10, 15 or 20 years. Surely we can give it something of a try now. But I wouldn’t give it currently a serious role in trade or investments. Our society is not ready for it technologically, mentally and administratively. The history of crypto-currencies is not that long, but it has its’ own legends as well. One of the informational sites that displays rates for gold, oil and main currencies… also keeps track of the price of two pizzas that bitcoin-miner Laszlo ordered in 2010. When the film was made, those 2 pizzas cost 3 580 000 US dollars. Alexey Parchunov, bitcoin enthusiast:
I think that existing crypto-currencies are in the evolution process now. I believe it’s not a final step of evolution. So, some new product can appear on the basis of bitcoin and its’ altcoins. There will be something new, and the world money will flow into it. Worldwide currency doesn’t yet exist. We are on the way, and bitcoin is the first natural step to it. American politician Genry Kissinger told in 1973: “If you control food, you control people; if you control energy, you control continents; if you control money, you control the whole world”. Bitcoin followers call it the instrument of freedom that can break the financial slavery and destroy bankers and banks. There will be no more usury, inflation or financial crisises. Film producers express their deep gratitude to all sponsors and crowdfunding contributors that made this film possible.

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