Bitcoin is a peer-to-peer monetary system in which all transaction records are public. Participants can use its open-source software to transfer virtual currency to one another as easily as they might send an email. Bitcoin opens an uncharted world of new possibilities to explore. We'll follow the stories of entrepreneurs and startups that are helping shape the new financial frontier. We'll look at the competitive mining market and the various subcultures within the Bitcoin community." You'll encounter a variety of characters and opinions as we examine the social and political impact of an open-source digital currency. Will the rise of Bitcoin bring a monetary paradigm shift that will forever change the world? Supposedly invented by a mysterious Japanese man named Satoshi Nakamoto (whose current whereabouts are unknown). Because it is designed to have an absolute ceiling of 21 million Bitcoins in circulation (not anticipated until 2040), and the system has no central depository or administrative authority, it has great appeal to libertarians and others who seek alternatives to a perceived corrupt, manipulative banking infrastructure and excessive government regulations. Its low processing fees compared with those of mainstream credit-card companies also hold considerable allure for merchants.

This is the story of Gerald Cotten and the many people who ended up with empty bank accounts after investing in his Bitcoin cryptocurrency exchange, QuadrigaCX. What does a crypto exchange do? The movie explains it concisely and it almost makes sense: A guy like Cotten takes an investment, converts it to Bitcoin and trades it in hopes of turning a profit, kind of like a stock day trader does. Cotten ’s described as a nerdy guy who felt like an outcast, but found a community of like-minded types in the cryptocurrency world.
Cotten was in India when he got sick and unexpectedly died; he was 30. At the time, QuadrigaCX was Canada’s biggest crypto exchange, holding north of $200 million. But nobody could access the keys and passwords to the company’s accounts and, against conventional wisdom, the company had no safeguards to stop such a thing from happening. Everyone who invested their money was left grasping at empty air. Internet forums foster ideas such as Cotten faked his death and took the money. The journalists and forensic accountants who lend the voice of reason, explores the oddities in the Cotten narrative, ruling out some of the crazier stuff in a quest for the truth.

The concept of a digital, decentralized currency is questioning things and the answers being spilled out are deep-seated, long-standing propositions that place a magnifying glass onto the seemingly untouchable financial institutions at the base of modern commerce. What may be uncovered in the philosophical, political, and economic questions could have radical implications for the rest of the 21st century". The documenteray ushers us in, not to explore simply Bitcoin, but to hint at the basis of trade, commerce, and civil society. Director Torsten's story of money is one filled with promise like a sunrise over a landscape of human spirit.

Bitcoin is the most disruptive invention since the Internet, and now an ideological battle is underway between fringe utopists and mainstream capitalism. "Banking on Bitcoin" shows the players who are defining how this technology will shape our lives. Bitcoin's early pioneers sought to blur the lines of sovereignty and the financial status quo. After years of underground development Bitcoin grabbed the attention of a curious public, and the ire of the regulators the technology had subverted. After landmark arrests of prominent cyber criminals Bitcoin faces its most severe adversary yet, the very banks it was built to destroy.

Bitcoin, the beautiful anonymity of cash, but cash that wasn't printed by governments. Instead, it was made by a bit of code, powered by citizens of the internet, and you could trust it. Today, anyone can buy cryptocurrency. A few signups, type in your credit card number, and trade in your money for digital cash. And with a few more steps, you can use Bitcoin to buy what the majority of Bitcoin is spent on: Illegal services. Virtual currencies can pose challenges for law enforcement, given the appeal they have among those seeking to conceal.
Is digital cash the next revolution? Learn about this anonymous currency and why it's so coveted.

With the advent of Bitcoin, the world's first digital currency, for the first time in history money is no longer controlled by banks or governments, but by the people who use it. But where did this currency come from? How does it work? And is it truly the way forward, or just a flash in the pan? Magic Money answers these questions and more as it explores the mysterious origins of Bitcoin, its role in society, and how it could shape the future in an eye opening film.