During the premiere of Matt Hornick’s and Tomer Strolight’s film “Bitcoin Is Generational Wealth”, the crypto world was ablaze with questions and opinions. The short film which was released on November 1, 2021, did more than its creators intended. While the movie’s aim was to make people understand the true value that Bitcoin possesses, it went ahead to spark serious conversations about the coin’s current significance and its future potential.
In a tweet, the host of the podcast “Once BITten”, Daniel Prince wrote:
“The film stirred many emotions within the community. Twitter exploded with feedback and people sharing that they had been moved to tears,”
So what is it that makes Bitcoin so fundamental to the world?
The Logic Behind Bitcoin Being A Generational Currency
When analyzed keenly, bitcoin does deserve the proclamation of being generational wealth. This coin does, to a great extent, help individuals to plan for a life far beyond their own. While many reputable companies and hedge funds are routing to get money to advance individual or organizational interests, Bitcoin’s determination is to push the human race towards a future free of asset and financial monopoly.
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Fueled by the determination to make the world a better place, Bitcoin enthusiasts are ready to echo the film’s message. However, critics aren’t backing down either. Groups that aren’t in support of the digital currency seem to be adamantly dismissive of the coin’s potential. They are also highly skeptical of its existence, fearing it can cause negative economic upheavals.
One of the people with a mind different from those opposing the nascent currency is Christian Keroles. Keroles is managing director at Bitcoin Magazine. He explains after the launch of the film that “Few understand the gravity of Bitcoin and the problems it solves.”
The Case For Bitcoin
The film clearly lays out the problems facing the world today. All the while, there’s a comparison of the future world that uses bitcoin as its currency. Bitcoin is Generational Wealth sends viewers back in time to 1948. This was the period right after World War II. Then, people languished in the misery caused by the long period of war. It was a time when everyone wanted to rebuild from scratch; a time to remind coming generations of the disaster that would become of a society that disregards human rights.
The society of that time did not have means to prevent the chaos from unravelling again in future. All they could do was hope that their words would suffice, and they did, but only for fifty years. In 2008, an unprecedented mortgage crisis struck, and financial bias struck with it. At a time when many Americans had lost their livelihood and many more were struggling to stay afloat, the Federal Reserve Board opted to bailout the more wealthy players in the industry.
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This unfair treatment by the government is the pain point upon which Bitcoin was born. In the Bitcoin network, all participants are and remain equal. The Bitcoin system is incorruptible and biases of power and wealth have no ground in it. That said the film shows what the 22nd Century, powered by bitcoin could look like. There’s a big difference on what the future could be. This is possibly why bitcoin critics can’t relate to the coin’s offering.
But, given a chance, Bitcoin can solve some of the world’s most pertinent problems like inflation. As Robert Breedlove, host of “What is Money?” commented, the coin can be “a hopeful look into a more harmonious future for humanity through the monetization of Bitcoin,”.