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What does Morgan Spurlock's Inside Man mean for Bitcoin?

What does Morgan Spurlock's Inside Man mean for Bitcoin?

With the release of CNN's latest documentary on Bitcoin, led by none other than Morgan Spurlock himself, it begs the question, "What does this mean for Bitcoin?". Morgan Spurlock has contributed a great number of documentaries on modern controversies to a wide range of audiences, and has an enormous voice to his followers. Now that this episode is out, what does it say about Bitcoin. And what is the TLDR?

Transcription

What's up, party people? Chris DeRose here, community director of the Counterparty Foundation. And in this video, I wanted to answer the question, what does Morgan Spurlock's Inside Man mean for Bitcoin? So, just this week, the episode came out on Thursday night, and I watched it with my Bitcoin group at a bar we frequent. It's part of our weekly meetings. We set up a little projector setup, and we watched it on TV and it was wonderful. I thought he really hit the nail on the head. I'm not a regular TV watcher.

I barely watch television. But I wanted to do a little bit of commentary, I think, on what was presented. And I think what that would mean for a lot of CNN viewers that were watching this. Bitcoin's gone through various stages, and I think that what was presented by Morgan was a very good synopsis of most of the better parts of where we've come from, of a lot of the uncertainty that is the dark net markets, a lot of the uncertainty that was volatility. These issues were really explored at a great length, and I think that it was, overall, very fair and very positive. I think that certainly he took a lot of inspiration from Andreas Antonopoulos.

I saw Andreas there at the show. He did a standup job as he always does depicting some of the concerns I think that Morgan had had, so that was really refreshing to watch as well. There were a couple of parts of the show where he went into the bad things or the tough things about Bitcoin. There was a senator that I think he interviewed at one point but even that was very positive. He talked to the senator and they discussed the need, perhaps, for regulation or perhaps the want for some more control. The senator didn't really look too bright in that interview.

He really didn't look like he understood what the network was about, but that's okay. What was nice about that segment in particular was that they really understood that Bitcoin is here to stay. Everybody knows that Bitcoin is here and it's not going anywhere. It's not a fad, and it's not something that's going to be glossed over. It's a mainstream internet protocol and society needs to deal with it. For all of its warts and all of its beauty, Bitcoin will be around.

I think when we talk about what this may mean for Bitcoin, we have to think about the types of people that are watching this. This is CNN. It has a very mainstream audience. I know that looking at Reddit and lot of the comments and such that a lot of people's grandparents were watching it. I know my parents were watching it. And so a lot of people who really thought that Bitcoin was fringe came to see the show and recognized that this is a protocol.

It's got some fringey parts to it, but this is a legitimate thing. And I think that now, we can start to really point at things like what CNN is doing, in the mainstream media and say, "These are truths that we know. This is the conclusion. Bitcoin is here. Bitcoin is important. Digital currency is a major part of innovation.

" I think that one of the nicer things that Morgan did, too, while we're on that subject, is show how innovative Bitcoin is. He did a great job of showing how efficient the network was, how transfers were fast, how easy it was to use. All of those things were presented at great length. I think that it was nice that he explored the mining aspect a little bit. Typically, when we see miners, we see these pimply-faced teenagers that have their video card set aside for when they're not World of War crafting to do mining, and I don't think that that adds a lot of legitimacy to the Bitcoin network. So when we see the professional side of the mining operation on Morgan's show, it shows viewers that a lot of money goes into this.

This is a serious operation. This is a real thing. The only criticism that I would say maybe is that I don't think the advantages of Bitcoin as a settlement engine were presented. I don't think that, of course, the Counterparty brings to Bitcoin were presented but that's fair. That's all very new, so I wouldn't expect that to be as much of a foregone conclusion, as the rest of the understanding is presented in that show. But I guess if Morgan ever wanted to do a followup, certainly Counterparty would love to steer him in a direction that shows all of the assets, all of the smart contract features that Bitcoin provides and all these extended benefits of the network, which I really believe to be its next major growth point, certainly in terms of its utility are concerned.

And that's that. I think that's my view on what Inside Man meant for Bitcoin. Maybe we'll re-visit this at another episode. Certainly, if Morgan has any questions for me, or he wants to give me some feedback on my videos, I would love to hear them. But great job, Morgan. Really great job! I love what you did.

And for anybody watching this channel who liked this question, had some questions of their own, they can ask it to me right in the comments section below or on Twitter @derosetech. Thanks for watching this and tune into the channel if you liked what you saw. Later, Party People!