Now playing Season 1, Episode 5 — Of Greatness And Greed
April 3, 2018
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Season 1 • 6 episodes
Bitcoin is the first and best-known application of the blockchain. A decade into its existence, bitcoin remains mysterious to the general public: from its nature, its source of value, the reasons behind price fluctuation, to diverging policies across countries. Episode 1 revisits the legacy of Satoshi Nakamoto, uncovering some life-changing bitcoin stories.
Some say blockchain is the second coming of the Internet, that it will change the way our world operates permanently. Others call it a scam. It enables the making of billionaires, but it has also put people in jail.
Initial Coin Offering (ICO) offers a platform that opens up capital inflows from the masses and impacts the traditional forms of capital raise. However, due to the lack of regulations, the failure rate on investment is high and ICOs have been described as "the craziest bubble ever".
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The design of bitcoin is based on a check and balance principle that guarantees the decentralization of power. However, the problem of scalability has divided the bitcoin community and provoked heated debate. Since Americans write the code and the Chinese are miners, the bitcoin debate went from technological to ideological.