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Why we do not support nor invest in Ripple

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DISCLAIMER: What you are about to read is an opinion.  This article is for entertainment purposes only and is not meant to hurt the sentiments of anyone.  Since this is an opinion, it is entitled to be completely false. Ripple is top 3 cryptocurrency on the coinmarketcap as of this writing.  It has made a brief victory lap at number 2 at the end of 2017.  Invest in Ripple has also made a lot of people lot of money, even multi-millionaires.

Then why did we start this article’s title stating outright that we do not support Ripple.  Some might say we are sour for missing out the boat and some might say we are naive, both of which might be true, depending on who you ask.

For the very reason of being called out as jealous or naive or to avoid being attacked, we are going to place an additional disclaimer here.  This article is stitched together to be an opinion piece to welcome dialog rather than debate. What this means is, whether you agree or disagree with us, you are welcome to share your thoughts to ADD to this piece rather than to start a debate or crypto-war.

This article is stitched together to be an opinion piece to welcome dialog rather than debate.  

Having that out of the way, we will navigate this article under the below subject lines.

  • Emotional
    • Bankers greed, rehashed
    • Where art thou Privacy?
    • Media, in the pockets
  • Practical
    • Is XRP required?
    • Adoption and penetration
    • Fiat friendly
  • Crypto-technological
    • It’s not blockchain
    • It’s not innovative
    • It’s not crypto
    • It’s not decentralized
  • Why it may win?
    • Purported bitcoin contender
    • Superfast transactions
    • Active marketing team and social presence
    • Partnerships with financial institutions
  • Why it may lose?
  • Conclusion

Emotional:  Many crypto fans get emotional whenever the topic of Ripple comes along.  Lot of them had an opportunity to invest in Ripple when it was trading at .000 something.  Many individuals, like us, resisted the temptation because they understood what Ripple represents and stands for.

They were burned, brutally.

This added fuel to the fire.   Already scarred crypto public got even more pissed off because of how big and ugly Ripple was getting to be, same as rest of financial institutions space.  The very core of crypto revolution has been shaken up (and still continues to be) with the way Ripple has penetrated the market.  There are few more reasons that add to the resentment of crypto loyals.

 

  • Bankers greed, rehashed: Everything that happens in the technological space happens fast, however, fast in this context could be anything that happens in a decade or so.  It took more than few years for Blockbuster to be completely busted by NetFlix.

Bankers are slowly realizing that blockchain technology is here and will not go away.  Cryptocurrencies are here to stay and will not go away in spite of FUD they garner on the mainstream media.

Ripple is giving a way for bankers to ‘participate’ in this new technological revolution without ever touching or sniffing the blockchain or cryptocurrencies. In that regard, Ripple in our opinion is giving ammunition to big financial institutions to undermine blockchain technology and crypto currency space.

Ripple in our opinion is giving ammunition to big financial institutions to undermine blockchain technology and crypto currency space.

It became evident how low Ripple will stoop to when the news of it trying to ‘bribe’ Coinbase and Gemini exchanges came to limelight.  This is a warning sign of what happens when a centralized entity gets its hands on too much money and power.

It became evident how low Ripple will stoop to when the news of it trying to ‘bribe’ Coinbase and Gemini exchanges came to limelight. 

In our view, Ripple can empower greedy financial institutions to circumvent the full brunt of blockchain revolution and manipulate the crypto space and its technological advancements with the sheer power of money they sit on.  For this very reason, and keeping the spirit in which crypto space came to be, we are not big fans of Ripple.

  • Where art thou Privacy?

Ripple has settled with the Department of Justice to a fine of $700,000 and to cooperate in releasing the details of its customer base. You don’t trust us?  Make whatever you want to of this statement lifted directly from the Department of Justice’s portal

“Further, the remedial framework calls for external audits through the year 2020, enhancements to the Ripple protocol, increased transaction monitoring and an extensive review of historical activity.”

Mind you, we never recommend evasion of taxes or being involved in anything that is illegal.  We ourselves disclose and declare all our holdings to the respective tax authorities and encourage you to do the same

Crypto space provides ‘privacy’ as a choice (not as a means to evade) which is one of its key propositions and very fact that Ripple seems to have lost this along the way, at least in our interpretation, our conviction of staying away from Ripple becomes stronger.

  • Media, in the pockets

This one will be a complete ‘hunch’ based claim rather than a documented proof based one.  Unless of course, you follow mainstream media.

‘Bitcoin is a villain until CBOE enters the market.’

‘Bitcoin is very volatile until Goldman Sachs and NASDAQ create their own versions of cryptocurrency exchanges.’

‘Bitcoin is used for illegal activities and is criminal’s currency until futures are announced’.

Bitcoin this and bitcoin that, we have heard so much news (aka FUD) in the mainstream.

What you will fail to find on any mainstream media is comparatively negativity about Ripple.

No media pundits asked Ripple, “You are not a blockchain company and what you offer is nothing more than a SaaS, then why are you pretending to be a crypto and who gave you the right to create money out of thin air?”.

If this so-called media was unbiased, why would they throw shit at the king of all cryptos which started a revolution while never mentioning much negative about a non-blockchain based cryptocurrency.

Think for yourself.

  • Practical: Keeping our biased sentiment aside, even the practical aspects of Ripple fail to garner our interest. Below are few of our views in this respect.
  •  Is XRP required?

Ripple and its non-blockchain based technology may actually help financial institutions  figure out a way to circumvent the hurdles of international money transfers.

Ripple’s extensive partnerships, however, do not translate to use of XRP (Ripple’s native currency).

Ripple Labs doesn’t need to use XRP in its three products: xRapid, xVia and xCurrent offerings.  In fact, its own CEO says “The Interledger protocol that we use, connects perfectly well to any blockchain and any asset, it doesn’t only work with XRP, it’s very open.”

Institutions are still free to use fiat or any other form of exchange of value. The use of Ripple by its own creators, Ripple Labs, is at its infancy and most public announcements allude to the fact that XRP can be used but is not required.

  • Adoption and penetration

For Ripple to succeed, in spite of its existing boasted partnerships, it will need to beat SWIFT that has over 11,000 existing banking relationships.

Why would an existing business that has been operational for decades watch passively while a newbie takes over its bread and butter?

Beats us.

Big financial institutions will not exhibit loyalty and if SWIFT (or other platform) gives them an actual blockchain technology-based support and offers more than what Ripple can, they will jump the ship in a heartbeat.

Some might say that this same argument can be made for everything that is introduced on the blockchain.  Not quite.  What other projects on blockchain have and Ripple doesn’t is: blockchain and loyal crypto followers.

Also, some businesses do not need a blockchain disruption.  For example:

A business like facebook can be completely eliminated by a blockchain based social system that promises privacy, security for their data and reward for user content.  On the other hand, a video streaming service like NetFlix may never be replaced by this technology due to what NetFlix offers in entertainment space.

We are still trying to find strong reasons as to why SWIFT will sit on the sidelines while their business comes under attack by Ripple, OR, what stops from big financial institutions with fractional lending on their side from creating their own blockchain, OR, using Ripple as a SaaS model while they continue to use Fiat?

In each of these scenarios, in spite of adoption of the technology offered by Ripple Labs, Ripple currency itself sees no value.

Thoughts are welcome.

  • Fiat friendly

21 Trillion is missing from the Department of Defense’s books.

Read that line again.

It is a Trillion with a T, not a Billion (Billion is also a massive big deal).  21 Trillion dollars of unaccounted adjustment.  Only made possible because of current fiat system.

If these records were on blockchain platform, even a private one (for security purposes), this could have been almost entirely impossible.

Every single dollar (or dollar equivalent) would have been brought to account.

When every single penny is accounted for and is open for public to audit, can you imagine having a 21 TRILLION dollars surprise?

Blockchain technology may not be a panacea but it is definitely a massive solution to avoid this kind of issue from cropping up and even when they do, an easy detection.

Now, if Ripple is facilitating existing fiat system without disrupting it, is it truly what we need?

21 Trillion dollars!!!  Honestly, do we need another technological solution that enables the current broken fiat system or do we need a blockchain revolutionary solution?

  • Crypto-technological: Most of the people that know the origin of Bitcoin may remember the very reason why Bitcoin came into existence. 2009 Crash of the financial market.   The need for revamping the existing financial systems came about from the despair of the financial crash. Bitcoin’s emergence sprung from the 2009 crash which was (and proven to be so) due to the greed of big financial institutions.

 They were the ones that actually benefited from the misery of millions of individuals that were victims of the financial crisis, in the form of bailouts post-crash.  Keeping these basic issues aside, below are few points why we think Ripple deserves no place in the crypto revolution.

 It’s not blockchain

Contrary to being listed on coinmarketcap and being a contestant in the cryptocurrency and blockchain space, Ripple is not a blockchain in traditional sense.

In our view, it is nothing but a distributed ledger information sharing platform that is offered as a SaaS to big financial institutions.  In other words, Ripple’s adoption makes existing broken and crooked financial system faster.

Ripple’s adoption makes existing broken and crooked financial system faster.

The above example about how a revamp of existing financial system is the need of the hour is not answered by Ripple’s offering.

  • It’s not innovative

A private shared ledger is no more innovative than a shared excel workbook.  Google drive does a better job in sharing information, if that was really the plague that haunts current financial system.

We all know, that is not the problem.  Problem is centralization, lack of transparency and too much control vested in few hands.

Ripple doesn’t change any of the existing issues. None.

What it does is remove the hurdle of ‘time and cost constraint’ for big players.  Not a big innovation in our view.

If you say that Ripple solves the problem of liquidity and instant transfers, you should learn about Xoom.com (a Pay Pal company now).  They offer instant transfers (even on a non-workday) for verified customers.  They operate within the realms of existing financial system and do much more than facilitating money transfers.

Why do we need the ‘cover’ of cryptocurrency for a system that is already being helped by a company like Xoom?

  • It’s not crypto

Ripple is not a crypto in true sense in our view because:

  • It is not private
  • It is not anonymous
  • It is not based on blockchain
  • It is not mineable
  • It is not TRULY limited
  • It is not controlled by public (or voting)
  • It is not required to use services on the Ripple’s platform

Although, it might sound like this is an anti-Ripple article, we assure you, it is not.  If you have legitimate reasons that can change the opinions expressed in this article, feel free to share them with us.  Given the infancy at which crypto space is at, we all can learn from each other.

  • It’s not decentralized

Ripple owns about 60% of its total supply.  This is anything but decentralization that crypto has emerged to be. We can go on and on about why decentralization is important for crypto space but intelligent patrons know better.

  • Why it may win?

A wild card scenario maybe SWIFT and Ripple partner to join forces with major financial institutions.  If that happens, there will be no stopping of Ripple.

Ripple may be adopted by world’s major banks and the XRP used as an actual means of exchanging/transfer of value across the borders.  This too will contribute to a major victory for Ripple.  Ripple has already shown the signs of being on the road to wide-spread adoption, more than most other projects on the crypto space.

Also remember, most of the world population (more than 97+%) is not invested in the crypto space and if Ripple can translate the benefits of blockchain without ever starting a blockchain and helping big financial institutions to offer the benefits of a blockchain enabled world through its distributed ledger framework, then it may actually wipe most of the crypto coin projects from the face of the crypto space.

Here are more reasons that might contribute to Ripple’s success.

  • Purported bitcoin contender

Many have speculated that Ripple with its lightning fast transactions and almost negligent transaction cost will soon take over and replace Bitcoin.

  • Superfast transactions

Ripple actually has one of the fastest transaction speeds.  Not the fastest but definitely in the fastest list.  However, we contend that since it is not a blockchain based currency, it doesn’t take a genius to understand why they might have fastest transaction speed.

  • Active marketing team and social presence

Just go to google or YouTube and search for Ripple.  It is likely that you will find inexhaustible number of articles and videos, respectively.

Whether this information is based on real value or perceived value because Ripple has made many individuals truly wealthy and thus has secured a loyal fan base, the sheer amount of social traction that Ripple has is enough to propel it to new heights.

  • Partnerships with financial institutions

We have stated this before but the partnerships with big names that Ripple has established is one of the reasons why Ripple captures lot of mainstream media’s attention.

Aspects like appearances on CNBC, 50+ Billion dollars at its disposal, capability to expand its team and connections and fact that Ripple is doing everything in its power to be the dominant player in the crypto space, who knows, it might even succeed in its mission.

Why it may lose?

If the financial institutions crumble under the weight of innovation of blockchain, cryptocurrencies and decentralization, then inevitably, Ripple that depends so heavily on the adoption by big financial institutions will go down with them.

Expect a major fight from these financial institutions that have been enjoying ripping people off with fees, oligarchical control over the financial health of the world and playing with the lives of ‘common men’ across the world.

Bank of America has already announced a digital coin of sorts.  If big financial institutions adopt to the changes and participate in this blockchain revolution (and succeed) then Ripple may play a part and succeed with them.  Even then SWIFT with its gigantic network is not going to let a new kid on the block destroy them.

A major collapse of current financial system model, a blow back from SWIFT, financial institutions adopting ACTUAL blockchain technologies or developing their own system, crypto-fans retaliation and the fact that there is not an actual use case for XRP itself in the Ripple ecosystem, any of these reasons in isolation or in combination can bring value of XRP crumbling to the ground.

OR at least that is the logical thing to happen.

However, we all know, crypto space is anything but logical.  So unfortunately, we along with others have to wait and see what happens of Ripple.

While writing this article, Goldman Sachs announced that they will start their own cryptocurrency backed by USD.  With its existing connections and sheer business volume, projects like these can prove to be a big blow to the projects like Ripple.

If Ripple fails, it will bring the whole crypto market, although temporarily, crumbling down.  This is another undesired outcome when a project like Ripple grows bigger than it should be.

Conclusion

You might say, what Ripple is trying to solve doesn’t actually need a blockchain technology and that all this rambling is in vain.  You may be right.  But we do ask you to show us a software company or for that matter any other company (other than financial institutions) that were able to ‘print’ money out of nowhere?   Show us a company that raised money from public with 60+% control on all of its assets and option to release a billion shares per month (at today’s value, about 680 million dollars) at its own whim?

If you operate in blockchain and crypto currency space, we have every right to expect you to be playing in the spirit of crypto space.

While the case can be made for any number of possible outcomes, we at CryptoTapas (and QRIP) are firm in our position, we will not invest in Ripple nor will we recommend it.  We might be utterly wrong at this position and that is ok.  As Buffet taught us “we win some, we lose some” and we would rather win with some truly world changing ideas, which we do not believe Ripple qualifies for, in our opinion.

CryptoTapas is an initiative of creators of QRIP group.  QRIP group is FREE to join.

Do your own research before investing. Crypto space is very volatile, don’t invest more than what you can afford to lose.  Opinion, not an advice.

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Is this the end of XRP?

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XRP Crash

Our dislike for XRP is well documented on our site…if you have missed them, here is a list of articles where we have made our opinion based disdain clear…

Why we do not support nor invest in Ripple

Ripple or not to Ripple? ‘Definitely not’ says a research report

5 questions we want XRP army to answer!

This is not a personal attack, mind you.  

We just don’t like the idea of a private company printing billions of dollars worth of money that is centrally controlled which goes against the spirit of crypto space.  This is our opinion and we are sticking with it.

Yes, we understand that we might be missing out on life-transforming gains on XRP by staying away from it.  It is OK with us. 

We generally do not trade based on sentiment, however, XRP has always been an exception given what we want Crypto space to represent.

Given all that, we were not surprised at all when the latest FUD around SEC investigation into XRP came out.

Is this the beginning of the end for XRP?

“Justice is on the side that can afford the best attorney” is the common joke in my country…and that seems to hold true for the world in general.

If we are forced into speculating, this is what might transpire in our view:

  • When drafting this article, we were of the opinion that SEC might just let this go through a simple fine (similar to EOS), however, after reading the complaint lodged by SEC we are not really sure that Ripple may be able to get off the hook that easy 
  • Ripple and SEC might compromise on a way forward in terms of reporting requirements, however, if SEC gets what they are going for – Ripple and Garlinghouse may not be able to continue their ‘sale’ of XRP
  • Ripple may use this ‘excuse’ to move its headquarters to a more ‘friendlier’ location outside the US, however, an unfavorable outcome from SEC could jeopardise its chances in most locations
  • Major exchanges could distance themselves from XRP until an outcome emerges to avoid getting caught selling unregistered ‘securities’

Is XRP a security?

We think so.  Of course, the court will have to rule the final verdict but here are the reasons why we personally think XRP is not like other cryptos.

  • Most projects actually are working on a solution and the revenue is dependent on the success and adoption of the project.  On the contrary, XRP had minted 100 Billion at the beginning of the project and kept bringing 1 Billion at a time to add cash to their business.  This means, whether or not there is any adoption – Ripple (and owners) made money by simply selling XRP.  At the time of this writing, owners still control billions worth XRP.  
  • Most projects that run an ICO have a majority of coins distributed to the investors…creators have little say in the way those coins then get circulated…take for example, EOS.  Although the company raised $4 Billion through ICO – they got away with a slap on the wrist because the owners do not control the majority of coins anymore
  • Ripple/XRP executives were caught bragging about how they can sell XRP to keep the business going (notice, they talked about selling XRP to make gains more times than the adoption bringing success);  Unfortunately, these talks are all public records and the SEC may use these in the court proceedings
  • Pages 9 and 10 of the lawsuit is really important where SEC claims that Ripple was warned about XRP being considered a security by a law firm, however, Ripple disregarded these warnings…excerpt 57 and 58 from the lawsuit

“57. On May 26, 2014, Larsen explained in an email to an individual formerly associated with Ripple that the international law firm that wrote the Legal Memos advised “that investors and employees could not receive XRP” because that “could risk SEC designation [as] a security.” Larsen also explained that the XRP he received upon Ripple’s founding was “comp[ensation] for . . . personally assuming th[e] risk” of being deemed the issuers of securities—namely, XRP. 

  1. In other words, as Larsen himself explained, he was paid at the outset in an asset (potentially worth hundreds of millions of dollars) to assume a risk he knew existed—that the sale of the asset could constitute an offering of securities for which he would be held responsible.” 
  • There are allegations that Ripple paid companies to use XRP to ‘hide’ the fact that Ripple is difficult/expensive to use (this in the lawsuit), take a read.

“339. Much of the onboarding onto ODL was not organic or market-driven. Rather, it was subsidized by Ripple. Though Ripple touts ODL as a cheaper alternative to traditional payment rails, at least one money transmitter (the “Money Transmitter”) found it to be much more expensive and therefore not a product it wished to use without significant compensation from Ripple.

Is this an attack on the entire Crypto industry?

We do not think so.

If the SEC wins this case, it will set a precedent against having ‘centralized’ control on the projects without being treated as a security, however, it is unlikely to stifle the projects that do not have centralized control on the supply and sale of the coins, in our opinion.

Our whole [opinion] contention from the beginning has been that XRP does not fit the definition of cryptocurrency.  If anything, we are surprised that the SEC took this long to bring the charges.

It does not matter what we think about the project, what matters is the outcome of this battle. 

Will the SEC make an example of Ripple or will Ripple find a way to circumvent these proceedings.

Things might get very interesting going into 2021 for Ripple, Garlinghouse and XRP.Note: We have to do this to avoid harassment from the XRP army, in case you missed it earlier, this is our speculative opinion.  No one knows what might actually happen.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Transforming Data Center Infrastructure With Blockchain

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Blockchain Infrastructure

Cryptocurrency – just hearing the name – can spark discussion topics on how innovative and controversial it is. However, nowadays, there seems to be a consensus that blockchain – the technological backbone of every form of cryptocurrency – is the former. The latter part of the discussion comes from the fact that cryptocurrency is still new, and needs more improvement, before it can actually be considered a wildly-accepted type of commercial (public) currency.

On the bright side, companies like Google and Goldman Sachs have already started to invest in various blockchain firms. And, it’s expected that sometime in the future, more big-name companies will follow suit, if cryptocurrency succeeds. Therefore, data centers and cloud hosting services must be ready to serve these new blockchain-based companies, as well as their needs, in the coming years.

So, you may be wondering: How did we get here? 

How Did It Start?

Modern blockchain started in 2008 with Bitcoin, which is a peer-to-peer Electronic Cash System. This white paper was a form of cryptocurrency that could live on a distributed network without any centralized authority; and blockchain is the technical backbone of that system, or a distributed digital ledger or database for it. No central authority will be able to manipulate the blockchain, since the whole network contributes to its creation and maintenance.

How It Works

In blockchain, two parties will make a transaction, to which they advertise it to the network. Then, various network nodes pick up multiple transactions, and arrange them into blocks. Afterwards, miners will use computers to add this block to the ledger (or blockchain).

Now, in order to add these blocks to the blockchain, the task requires a lot of computing power. Why? Because each of these blocks come with a sort of attached mathematical puzzle. And, to solve these puzzles, they need computing resources. But don’t worry: these puzzles are what miners are interested in, because they’re usually rewarded with tokens, just for adding a block to the blockchain.

Before the existence of blockchain though, business transaction would’ve been made through a trusted third-party company (i.e. a bank or a government institution), in order to guarantee the integrity of a transaction between two parties. However, blockchain eliminates that need by opening up the possibility for business transactions between parties worldwide, without the need for any financial or government institutions to step in. 

What Blockchain Means For GPUs

The need for blockchain means elevated demand for graphical processing units (or GPUs). As blockchain calculates, miners will have to provide enough computing power for it. And, as cryptocurrencies and blockchain-based applications become more popular, the higher the demand for computing power. That’s where GPUs come in, since blockchain-based calculations are best performed on these units. 

Data centers and cloud-hosting services will also have to look into AMD and NVIDIA graphics cards, in order to better serve the blockchain market; however, these graphics cards can be pricey. And, they’ll have to better optimize their infrastructure to be GPU-compatible.

Concerns?

The most controversy that cryptocurrency has faced is its vulnerability to possible hacking schemes. One can argue that there are major concerns about blockchain hackers taking – or planning to take – advantage of the fact that cryptocurrency doesn’t have enough protection yet to sustain itself, in case of a security breach that can cost millions.

Concerns on cybersecurity for data centers, in that case, seems to have spawned from cryptocurrency market’s promise of immense riches and overnight successes, to where anyone – including bad actors and hackers – will create an ever-growing threat in the cyber realm.

“One example of hacking of cryptocurrency was in January of 2018, when hackers were able to steal more than $500 million (or £380 million) worth of cryptocurrency from the Tokyo-based cryptocurrency exchange Coincheck,” adds Barnard. “Thus, that story, to this day, serves as a warning to what can happen, if cryptocurrency is unchecked. And, this story has many people concerned about whether cryptocurrency is safe to invest in or not.”

Conclusion

As you can see, data centers will have to go above and beyond to better accommodate the growing trend of cryptocurrency. And, to do so, they’ll need a good functioning digital infrastructure, to handle blockchain systems and increasing data processing demands.

This need for the right data center infrastructure is also increasing, since blockchain is expected to greatly impact the following:

  • Finance
  • Healthcare
  • Government
  • Transportation
  • Manufacturing
  • Medicine
  • Logistics
  • Other various industries 

Thus, it’s absolutely necessary for data center service providers to stay competitive, when it comes to such changes in technology, including blockchain. Ultimately, with an up-to-date infrastructure for blockchain to work on, data centers will be able to be sustainable, regardless of any changes and or developments made in the tech world for many years to come.

Author’s Bio: Katherine Rundell is a writer and editor at UK Writings and Academized. In her spare time, she likes to travel to different states, give special talks in various business training courses, read her favorite books (ranging in different genres).

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

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5 Best Crypto Movies To Learn Crypto From

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Crypto Movies

Bitcoin has been around for 10 years. As a result, there are many people who will keep tabs on it and cheer for its modern successes. So today, we want to celebrate along with crypto fans by bringing you a fun article about the topic.

If you thought that cryptocurrency is all business, business, business – well, in actuality, crypto has also made its way into cinema. Yes, in this article, we’ll show you the 5 best movies that involve Bitcoin, crypto, and blockchain. And, the good news is, you don’t have to read really long articles that talk about crypto, when you can watch a fun movie instead!

So if you want to gain a bigger understanding on what Bitcoin is, and why it’s so important in today’s world… or if you want to educate others on why Bitcoin is NOT something out of a science fiction movie (no pun intended), then check out these 5 great movies.

Cryptopia: Bitcoin, Blockchains And The Future Of The Internet (2020)

Cryptopia Bitcoin Blockchains and the Future of the InternetCryptopia is an ideal film for novice cryptocurrency people. So, if you’re a newbie in the crypto world, or want to brush up on your crypto skills, then check out this documentary. 

This film is a deep-dive into the crypto world, and it doesn’t shy away from explaining the good things about crypto, as well as the negative parts of it. Yes, crypto can be both a Godsend and a curse, depending on how you look at the narratives you’ll listen you in the documentary. In hindsight, the movie will explore the story of bitcoin, and how it has managed to evolve through the years with its ongoing promises that crypto is “the future.”

So, whether you’re a skeptic, or you want to learn more about crypto, you’ll get to see both sides of the debate – as a better alternative to regular currency in the future, or a financial disaster in the making. Either way, this documentary will answer any questions that you might have about crypto.

The Rise And Rise Of Bitcoin (2014)

The Rise and Rise of BitcoinEver wondered how cryptocurrency became a thing? Then check out The Rise and Rise of Bitcoin! The film covers the stories of some of the early adopters of Bitcoin, including Gavin Andresen who was famous for communicating directly with Satoshi Nakamoto to help him create better technology. (By the way, Nakamoto is mostly famous for authoring the Bitcoin white paper, and for devising the first blockchain database.

Overall, this movie was one of the major productions to cover the main points, in regards to how Bitcoin and its assets were created to begin with.

The Second Target (2019)

The Second TargetThe Second Target was written by Graham Holliday, and stars Athen Walton. The movie follows a group of local crypto thieves now having their eyes set on their latest target. They kidnap a detective they think is on their case, but end up kidnapping the wrong guy. To make matters worse, the son of the kidnapped man teams up with a stranger, and they plot to stop the thieves’ second heist and save the kidnapped man.

While you’ll be immersed in the action, you’ll be learning the basics of what crypto is.

Trust Machine: The Story Of Blockchain (2018)

Trust Machine understands that almost a decade has passed, since the crypto world has transformed things. Since its existence came to be, many different cryptocurrencies have been created, with a small percentage of them expected to stand the test of time after the dust settles. While some people are still skeptical about the concept of cryptocurrencies, there are some parts of the world where people actually use cryptocurrencies as a way to buy things. However, other places have faced significant problems, as a result of exchanging goods with crypto within the industry.

Crypto (2019)

Crypto MovieCrypto, despite its panning from critics, has garnered somewhat of a fanbase. With a stellar star cast like Alexis Bledel, Luke Hemsworth, and Jeremie Harris, it’s hard to not see this movie. And, with a thriving fanbase, this movie is not only for movie fans, but also for crypto fans. 

The story follows an anti-money laundering agent (Beau Knaff) who reunites with an old friend who’s now into mining cryptocurrency. Now, with a potato farm being on the verge of being repossessed, the two soon investigate a gallery, which may be tied into a multi-million-dollar money laundering scheme. 

It’s action-packed, and it has you cheering for the protagonists as you follow the story from beginning to end.

BONUS: Throwback Movie – Inside Job (2010)

Now, while the film doesn’t directly involve Bitcoin or blockchain, it’s a good appetizer for learning what they are. And, it’s a must-watch!

Inside Job covers the actions that made Bitcoin a household name in the first place. The movie sells the concept as a type of currency that can’t be manipulated, controlled, or corrupted by any government. 

However, the main topic of the documentary involves the late-2000s financial crisis. In 5 parts, the film will cover how changes in the policy environment and banking practices only added more fuel to the fire, rather than stop the crisis in its tracks. 

Critically acclaimed, and winning an Academy Award for Best Documentary, Inside Job will have you on the edge of your seat, as it takes you through the financial crash. All information in this documentary, as well as its controversial topic, are understandable for most audiences, regardless if you know about cryptocurrency or not. 

Conclusion

So, there you have it! That was our list of movies to check out, if you’re in the mood for learning about cryptocurrency. If you want to go down the rabbit hole about the topic, or if you’re in the mood for something different than your usual shows and movies, then head over to Netflix, online, or anywhere where movies are sold, and check out our picks on the best movies about crypto.

We hoped you enjoyed our list, and made it a movie night tonight! As you’ll see in these selected films, they’ll show you how cryptocurrency has changed people’s lives in so many ways than one, and has no plans of stopping. So, get out your popcorn, and take some good notes about crypto! 

Author Bio:

Kristin Herman is a writer and editor at Best essay writers. As a marketing writer, she blogs about the latest trends in digital marketing. In her spare time, she coaches up-and-coming marketers on how to perfect their advertising practices in the ever-evolving market.

For movie crypto movies: Crypto Movie Database

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