The title infers that this film is a guide to Bitcoin, the well-known cryptocurrency that originated in 2009. With eight chapters, however, this lengthy documentary covers more than simply how to purchase, mine, or store Bitcoin. The guide addresses the underlying technology for Bitcoin, the history of currency, utility tokens and currency coin alternatives, mining, decentralized finance, and the potential for cryptocurrency to become the global reserve currency.
Directed by Darcy Weier, the pace of the film is fast and images change frequently. Comedian Andrew Packer and others provide comic relief with humorous vignettes in the film. Various individuals in the industry of cryptocurrency lend their perspectives, all concluding that cryptocurrency and blockchain technology has a bright future.
The film’s introduction begins with addressing the naysayers who opposed Bitcoin when it first appeared. Such individuals included Warren Buffet and Charlie Munger. J.P. Morgan Chase & Company CEO Jamie Dimon, who states he is “beginning to see value in the new technology” voices the transition from opposition to support for cryptocurrency in a news clip. The film reveals large server installations set up to handle the high volume of Bitcoin transactions in China and the United States.
On a 60 Minutes clip, the Federal Reserve spokesperson admits "the Federal Reserve prints money upon request by Congress." All the scenes set the tone for the viewpoint that Bitcoin and its technology are a positive innovation in line with Internet 3.0.
Chapter One explains Bitcoin in terms of its technology: blockchain. (There are many excellent presentations for librarians on blockchain technology). In this film, a straightforward explanation is lacking, but the content is covered. While the narrator explains part of the technology, the educational documentary presents the remaining aspects and advantages of the technology via interviews with cryptocurrency and technology experts. Viewers must put it all together. The narration is fast-paced.
Chapter Two covers the history of currency, and this section suited the pace to the content and the explanations are very clear. Chapter Three looks at mining cryptocurrency and points out that Bitcoins are created as a reward for computers solving elaborate mathematical problems.
Miner Brian McCloskey shows viewers his small server farm in his Quebec apartment where he has mined Ether and Z Cash. The servers produce so much heat that he built a vent to release the heat outside. Chapter Four covers popular meme coins such as Doge.
Chapter Five covers utility tokens and currency coin alternatives. Chapter Six discusses investment strategies including using centralized exchanges such as Coin Base. They provide tips for beginners to safeguard currency.
Chapter Seven is about DeFi or decentralized finance. Chapter Eight interviews the previous experts in the film who all agree that cryptocurrency and blockchain technology is the future and the framework for Internet 3.0. Strong optional purchase for academic or public libraries.
What academic library shelves would this title be on?
The Bitcoin Field Guide is suitable for academic libraries and classrooms covering Internet technology or business and finance.
How can teachers use this documentary as an educational resource?
The Bitcoin Field Guide provides information on the underlying technology for cryptocurrency, an explanation of reserve currency, how to buy and store cryptocurrency, and potential uses of blockchain technology.