This is a sponsored post on behalf of Review Wire Media for God Bless Bitcoin.
Way back in December of 2017, I posted about Bitcoin and why it, and other cryptocurrencies, could impact the industry. Back then, Bitcoin was worth $14,000. Now, Bitcoin is over $60,000. The cryptocurrency industry as a whole is valued at over 2 trillion dollars. While still just a fraction of the amount traded over the NYSE, Bitcoin and other cryptocurrencies are rapidly becoming an intrinsic part of the global economy, offering new investment opportunities and resources for everyone – including those who don’t have access to traditional banks. The recently released documentary God Bless Bitcoin explores several ways Bitcoin can help us have a better financial future.
I had the opportunity to ask Brian and Kelly Estes – the producers and financiers of the documentary – about their motives for making the film. I also got their thoughts on several hot topics in the blockchain and cryptocurrency industry as a whole.
The Bitcoin documentary God Bless Bitcoin is currently available to watch free at www.godblessbitcoin.com/watch/
Interview with Brian and Kelly Estes – the producers and financiers behind the documentary God Bless Bitcoin.
Why do you think it was important to make this documentary?
Over the past few years, we’ve noticed how much everyone is struggling. In the grocery store, we see parents telling their kids that they can’t get a favorite cereal because it costs too much or that they need to get a generic brand. We see people filling up only halfway at the gas pump because they don’t have enough money to fill an entire tank. It’s painful to see. Even our own children, despite having college degrees, struggle to stretch their paychecks to cover their bills. People in all walks of life are wondering what they are doing wrong. We wanted people to understand that they aren’t doing something wrong; something is wrong with our monetary system. When President Nixon took the world off the gold standard in 1971, it meant that we didn’t have any hard asset (gold) pegged to our dollar, so the government could print as many dollars as they needed to fund social programs, and in Nixon’s case, the Vietnam War. Today, we are feeling the effects of that decision. But, there is a new digital gold, bitcoin, that would allow us to hold onto our purchasing power. We wanted to introduce that idea to people, so they could make decisions about their finances with eyes wide open.
What are some of the biggest factors preventing mainstream Bitcoin adoption?
The biggest factor is education. Most people don’t understand bitcoin, and there is also a lot of misinformation out there about it that makes people wary. We always hear about how bitcoin is used by criminals or for nefarious purposes, that it is bad for the environment. To correct this misinformation and help people feel more comfortable with bitcoin, we made a short film that dispels the fear, uncertainty, and doubt (FUD) that surrounds it. “What the FUD” is available for free on our website godblessbitcoin.com. This is just another educational tool to help make people comfortable with bitcoin.
What is a common misconception about BTC that people should know?
Unfortunately, one of the biggest misconceptions out there is that bitcoin mining is bad for the environment and uses too much energy. This idea is based upon a mistake that Cambridge University posted in a research report four years ago. At the time, the researchers were only calculating electricity used for mining “in front of the meter.” They were not considering the electricity that is used to mine bitcoin that is basically waste energy “behind the meter.” Six months ago, Cambridge’s new report took into consideration the “behind the meter” sources of electric like hydroelectric, geothermal and carbon capture from flare gas. Now, their research indicates that bitcoin mining is the greenest industry in the world because 58% of the electricity comes from renewable energy sources.
Why do you think the US is lagging behind other countries when it comes to BTC and cryptocurrency adoption?
In the United States, the SEC is actively pushing bitcoin- and blockchain-related companies outside the country because there’s no regulatory clarity here. The SEC is also suing these companies, which makes it difficult for them to operate in the US. Both Democrats and Republicans agree that this technology should be developed inside the United States, and hopefully, the next administration will make a change in leadership at the SEC so it is more welcoming of bitcoin and blockchain companies.
What can we do to help encourage more people to start using Bitcoin and other cryptocurrencies?
The most important thing to do is educate them. Nobody wants to use something that they don’t understand. We hope that our film provides a simple explanation of bitcoin and how it works so that people become comfortable enough to learn more about it on their own. There is an amazing website, hope.com, that has all kinds of free educational tools on it that people can use as a resource in their bitcoin journey. There is also a lot of misinformation out there about bitcoin that makes people wary. We always hear about how bitcoin is used by criminals or for nefarious purposes, that it is bad for the environment. To correct this misinformation and help people feel more comfortable with bitcoin, we made a short film that dispels the fear, uncertainty, and doubt (FUD) that surrounds it. “What the FUD” is available for free on our website godblessbitcoin.com. This is just another educational tool to help make people comfortable with bitcoin.
When introducing BTC to people, what’s one thing you’ve found resonates the most with them?
People definitely understand that bitcoin is a store of value that allows them to save for the future. The younger generations, our children included, feel the effects of money printing the most. Millennials today are the first generation that will not be better off than the previous one. So, they wonder if they will ever be able to purchase a home, have a big family or even a family at all. Our own children wonder how they have a college degree and despite being salaried are living paycheck to paycheck. It is the younger generations who embrace bitcoin the most because it is hope for them.
If you’d like to get a better understanding of Bitcoin, how it works, and how it is changing the financial landscape, watch God Bless Bitcoin for free at www.godblessbitcoin.com/watch/.
God Bless Bitcoin Synposis
God Bless Bitcoin asks the timely question: How do we fix our broken money? Through in-depth conversations with blockchain and interfaith religious leaders (including Mark Cuban, Cathie Wood, Rabbi Michael Caras, Fr. Robert Sirico, Tony Hawk, Tim Draper, the film exposes the broken, unjust, and immoral nature of our current fiat-based monetary system, one that is intimately connected to the military industrial complex and the propagation of war. The film also shows how and why members of the poor and middle class feel a financial squeeze even when they work hard and lead fiscally responsible lives. God Bless Bitcoin ultimately suggests the ways in which Bitcoin can present alternatives to our current system that are more just, equitable, and peaceful.
Comments