Cryptopia: Bitcoin, Blockchain, and the Future of the Internet

I just finished watching the new documentary “Cryptopia: Bitcoin, Blockchain, and the Future of the Internet”, and I've decided to write not one, but two separate articles on it. This first article will be a general review of the film, while the second article will be a running diary highlighting specific moments I want to discuss in more detail.

Let me begin by saying the documentary is definitely worth a watch whether you’re someone who is new to this space and looking to learn, or someone who fell down the Bitcoin rabbit hole years ago. Directed by Torsten Hoffman and Michael Watchulonis, the film does an excellent job of introducing viewers to the complex world of cryptocurrencies and covers much of what has happened over the past decade.

Cryptopia is broken up into three acts. In "Act I: Bitcoin", Hoffman describes Bitcoin's original use case as a form of peer-to-peer digital cash and the mechanism by which it works. He also covers the credit card and traditional banking systems, and why Bitcoin can eventually become a tool to cut out these unnecessary middle men and their exorbitant fees.

Following a brief overview of Bitcoin's scaling debate culminating with the Bitcoin network splitting into BTC and BCH (Bitcoin Cash) in 2017, the documentary segues into "Act II: Blockchains".

In this section the film describes the myriad of alternative cryptocurrencies that arose after BTC network's failure to scale. Altcoins like Litecoin and Ethereum are discussed, as are smart contracts and ERC-20 tokens, as well as how companies are looking into using blockchain not Bitcoin.

Finally, the film concludes with "Act III: The Future of the Internet", focusing on the potential role cryptocurrencies might play in the future of the internet, aka Web 3.0. The filmmakers ponder if censorship resistant money can lead to global freedom of speech, while trying to envision a utopia made possible through the use of cryptocurrencies and an internet no longer controlled by huge corporations, with people taking back control of their data through decentralization.

The film only touches on these many subjects at a surface level, and I suspect newcomers might have trouble following many of the concepts discussed. But to its credit, the brisk 86 minute film does well to both entertain and inform while doing just enough to invite viewers to learn more about the cryptocurrency world on their own.

Throughout the documentary Hoffman interviews famous industry players like Roger Ver, Wences Casares, and Andreas Antonopoulos, in addition to cryptocurrency naysayers to counter those viewpoints. The film is also peppered with actual media headlines as evidence to support the points being made so that viewers don't feel they are relying solely on Hoffman's word.

Like any good documentary, Cryptopia does its best to cover the issues from all angles. It is a fair and balanced look at the industry overall, and I applaud the creators for shining a light on what makes crypto a potentially world changing innovation and also an enterprise that attracts scammers and frauds.

Perhaps the highest praise I can offer the film is that it isn't afraid to pull any punches. Whether you're a BTC or BCH maximalist, an Ethereum supporter, or consider yourself a part of the XRP army, there is something in this documentary for each one of you to be angry about.

The only major criticism I have is that the doc does get one major piece of Bitcoin's history completely wrong. In the section covering the origins of Bitcoin Cash, Hoffman claims Roger Ver, Bitmain, and Craig Wright forced a software fork to create BCH when in fact Ver and Wright only joined the BCH community well after it was created with the collaboration of Bitcoin ABC, ViaBTC, among others. It is a glaring error in an otherwise excellent film.

In conclusion, I think this film is a positive addition to the cryptocurrency space. It is obvious that Hoffman is fairly knowledgeable on the subject and comes across as a likable and passionate proponent of this new industry.

If you're interested in watching the film for yourself, check out the trailer below or go directly to: https://cryptopiafilm.com/

Please hit the thumbs up button if you enjoyed this article, or if you would be interested in reading a running diary of the film. As always, thanks for reading.