Two Cures Proposed to Address Bitcoin Nostalgia from the 2010s
The documentary The Rise and Rise of Bitcoin premiered eleven years ago, featuring Daniel Mross, a computer programmer who began mining Bitcoin in 2011. Key points include:
- Mross founded Maximalist Capital and traveled to meet notable figures in the Bitcoin space during its early days.
- The film highlights challenges faced by platforms like BitInstant amid the Mt Gox crisis.
- Cameos include Brian Armstrong and Fred Ehrsam from Coinbase, emphasizing the need for more crypto exchanges.
- Roger Ver discusses Bitcoin's advantages with a grocery store owner, stating it has no central authority.
- Mross’s home mining journey illustrates how Bitcoin mining transitioned from a hobby to a competitive business.
- By the end of filming, rising costs forced Mross to abandon mining due to increased competition and investment requirements.
- The documentary reflects on Bitcoin's initial appeal and questions the sustainability of its low-fee feature.
For those nostalgic about early Bitcoin, engaging with it as money and experimenting with open-source mining rigs are suggested alternatives.