So what precisely is Bitcoin? Where is it at today? How does it operate? Can it truly be used in ordinary life? These are some of the subjects Morgan Spurlock, CNN’s Inside Man, explored to answer in a short documentary that was aired on CNN last night.
The documentary started off with Spurlock at the Bitcoin Center in New York City, right in the core of the area’s financial district. He was there to be formally acquainted with the concept of Bitcoin at an event the Center was hosting. His first reaction?
It’s like a really smart guy’s frat party.
With the help of fellow fans of the digital currency, Morgan downloaded his first Bitcoin wallet onto his phone and viewers observed as he bought his first Bitcoin in an auction. At the time, the value of the coin was $623, but Spurlock was more interested in the fact that the simple transaction only cost him less than six-tenths of one cent.
The next day, Spurlock glanced throughout New York City to find places where he could spend his new found digital money. He first found success at a local pizzeria, paying 0.0083 BTC for his lunch and after bought groceries at a local supermarket. It was there that he spoke with the owner of the small shop who highlighted the advantages of accepting Bitcoin as a business owner, which included not having do deal with credit card fraud, chargebacks and paying less in merchant expenses. To finish off the day, he got a massage.
So far living in the Bitcoin world has been incredibly simple, but I’d be lying if I said it doesn’t feel kind of surreal.
Morgan next tried to use Bitcoin to pay his bills, but he didn’t get very far when he realized that none of his providers knew what Bitcoin was, let alone accepted it.
After all of the research Spurlock had done, it was definitely time for him to put his new-found experience to the experiment and see if he could bring somebody on board to the Bitcoin world. So, for the advantage of his caffeine addiction, he happily introduced a café owner in Brooklyn to the digital currency. Not only was he able to buy his coffee with BTC, but he sat down with Andreas Antonopolous in that very café to examine what Andreas felt was in store for Bitcoin in the future. For those of you who were questioning, he was showing off his Rolex that he purchased off of Silk Road 2.0. Was it fake? You’ll have to watch and find out!
You can watch all the documentary and see it’s total adventure in Bitcoin eco-system and in what other situations he found himself in. But we can tell you that CNN’s Inside Man ultimately learned that technology behind Bitcoin that might just change the world.
After you watch it, don’t forget to tweet us and let us know your thoughts.